Recommendation Life with LTC

[charleszubrod]

Can anyone direct me to a life insurance plan with LTC benefits. I have 51 year old woman, currently in good health inquiring. I do not specialize in Life products and appreciate any thoughts. In advance, thank you

 

[KenP]

Hopping in this thread to see the responses as well. I'm a licensed P&C agent and my agency has one guy who has the 2-15 to write this kind of thing. This very type of inquiry came up from a partner of ours and the only materials he had available from his broker was OneAmerica (state life's DBA name, if I recall correctly offhand). They had myriad options for LTC, but they were all basically either annuities or whole life with riders that allowed for accelerated DB in LTC scenarios.

Curious to see what others have to offer on this

 

[Tahoe Ray]

Can anyone direct me to a life insurance plan with LTC benefits. I have 51 year old woman, currently in good health inquiring. I do not specialize in Life products and appreciate any thoughts. In advance, thank you

Refer her to LTCADVISER here on the forum. He is by far your best option.

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Hopping in this thread to see the responses as well. I'm a licensed P&C agent and my agency has one guy who has the 2-15 to write this kind of thing. This very type of inquiry came up from a partner of ours and the only materials he had available from his broker was OneAmerica (state life's DBA name, if I recall correctly offhand). They had myriad options for LTC, but they were all basically either annuities or whole life with riders that allowed for accelerated DB in LTC scenarios.

Curious to see what others have to offer on this

If you're looking for pure LTC coverage in a hybrid format, OneAmerica and Lincoln Moneyguard are your two go to products...specifically if the client is using a lump sum or 10 pay.

 

[KenP]

Refer her to LTCADVISER here on the forum. He is by far your best option.

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If you're looking for pure LTC coverage in a hybrid format, OneAmerica and Lincoln Moneyguard are your two go to products...specifically if the client is using a lump sum or 10 pay.

REALLY good to know, thanks. Only having the materials from a single carrier left me feeling grossly underinformed, so it's good to hear it's on the top list for choices anyway. That law firm does a lot of estate planning, so this is a real concern they have come up

 

[kpbdy99]

Can anyone direct me to a life insurance plan with LTC benefits. I have 51 year old woman, currently in good health inquiring. I do not specialize in Life products and appreciate any thoughts. In advance, thank you

Lincoln Financial MoneyGuard, Pacific Life PremierCare, and Nationwide CareMatters will all let you add an inflation rider, and you can do single-pay, or up to a 10-pay.

 

[Lewis_FL]

Indemnity style LTC/Chronic Illness riders are popular.

 

[kpbdy99]

Indemnity style LTC/Chronic Illness riders are popular.

Why are you not considering straight LTC insurance? It's by far the best value, as it relates to dollars paid vs. potential benefit out. No, you're not going to have a death benefit, but you're also paying a heck of a lot less for the coverage. NGL, Mutual of Omaha, Mass Mutual all have good, affordable policies.

 

[KenP]

Why are you not considering straight LTC insurance? It's by far the best value, as it relates to dollars paid vs. potential benefit out. No, you're not going to have a death benefit, but you're also paying a heck of a lot less for the coverage. NGL, Mutual of Omaha, Mass Mutual all have good, affordable policies.

We all die ultimately, so there's some guarantee of getting your money out of life insurance. I work P&C in my office and even I've already seen that a very common gripe that customers have with LTC is that there's no guarantee they'll ever even need it in the first place. They have a hard time coming to terms with paying all the money in because of that.

The annuity or whole life hybrid products are more well received and popular. Not to say pure LTC isn't an option