A possible long-term care solution
The need to protect the farm from long-term care risks is critical. To mitigate this risk, Barb could purchase a standalone long-term care policy with an indemnity style benefit, such as Nationwide YourLife CareMattersSM.
By repositioning $100,000 of her assets to pay the premium on a CareMatters policy, Barb will receive a long-term care benefit of $409,580. This will provide Barb with a monthly benefit of $5,688 for six years, allowing her to get the care she needs. Also, if Barb were to use all of her long-term care benefits, her children would still receive $27,305 as a guaranteed death benefit.