Quote:
Originally Posted by villagetinker
OP, talk to your financial advisor to see what is available. We bought a policy back up North, and as I recall, we get back the premiums IF WE DO NOT USE IT, we get assets shielded as mentioned above, but I am in the process of confirming my back up North policy will satisfy the Florida requirements. At the time we wanted to be able to pass along some assets to surviving spouse, however, we are also reevaluating this policy in light of costs, current conditions, etc. All these situations are different and what is suitable for one person make make no sense for another person.
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Not sure about getting the premiums back. I believe that a rate increase will give you the option of canceling and premiums paid can then be used to offset the facility costs. Remember. If you paid $30,000 in premiums that's only half a year coverage.
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