Hybrid Insurance Policies Gaining in Popularity
- Thread starter Arthur Rudnick
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You and I had a discussion a few years ago where you pointed out these plans weren't good.
Changed your mind yet?
Rick
Changed your mind yet?
Rick
- Thread starter
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Arthur Rudnick
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previously posted by GreenSky
Hi Rick,
I'm not sure that I ever said that linked-benefit policies weren't any good. They address 2 different concerns: life insurance & LTCi. I find that most of my LTC prospects are not looking for life insurance. And, the cost of a hybrid policy, in most cases is more than a stand-alone life & LTC policy.
But with that said, and I didn't write the article, (I Report, You Decide) I find that over the past few months, I'm getting questioned more & more about hybrid policies from my LTC prospects.
That being the case, I did my due diligence and looked into what's being offered in NY. I've focused on Genworth's TLC.
Haven't sold one but at least I'm fairly well versed on the product and in certain circumstances can make a valid recommendation when called for.
Like most products, it's not right for everyone but it's another tool available for me when the conversation comes up.
Hi Rick,
I'm not sure that I ever said that linked-benefit policies weren't any good. They address 2 different concerns: life insurance & LTCi. I find that most of my LTC prospects are not looking for life insurance. And, the cost of a hybrid policy, in most cases is more than a stand-alone life & LTC policy.
But with that said, and I didn't write the article, (I Report, You Decide) I find that over the past few months, I'm getting questioned more & more about hybrid policies from my LTC prospects.
That being the case, I did my due diligence and looked into what's being offered in NY. I've focused on Genworth's TLC.
Haven't sold one but at least I'm fairly well versed on the product and in certain circumstances can make a valid recommendation when called for.
Like most products, it's not right for everyone but it's another tool available for me when the conversation comes up.
I actually disagree with your thoughts regarding that they address different concerns. Just because the hybrid policy has a life insurance ROP component the hybrid policy is no more about life insurance then the Traditional LTC policy is about life insurance. Both policies are about LTC insurance. The only difference is in the funding approach. Arthur, feel free to call me any time in my office and I can take you through how I explain the 2 types of policies to my clients. I think you will then begin writing a lot of both policies. Now, NY hybrid policies are a little bit trickier due to the inflation protection constrictions, but still I think I can help you position the hybrid policy properly.
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