Insurance Agent Forum

[voliosclark]

Wondering how many of you LTC agents have had a chance to introduce Money Guard to your client base.

I've had some success showing this LTC/UL hybrid to some of my annuity producers as it has become a pretty popular cross sell concept.

I've been thinking about trying to target pure LTC guys with this product line, but was curious if those active in this market have either come up against it or have had success selling it.

---
Clark Crawford
Volios Group
South Orange, NJ

[Focus LTC]

I have sold it, and continue to sell it, but only to rejected traditional LTC cases. The underwriting is very lax in comparison. Benefits are pretty good too.


My only issues are unlike annuities you can't use qualified money (which is always easier to find) and I'm not 100% sure on Lincoln's claims service when it comes to LTC. I can't say its good or bad but I can say they don't have the experience of hancock or met when it comes to LTC but they assure me its top tier.

[briko3]

I sell a lot of it. You basically have to have a client that has money sitting around that they don't foresee using. If they foresee using it for something else in the future, it probably isn't a good idea since they'll lose coverage be getting it out of the policy. If they have money just sitting in a CD for the heck of it, it's a good place for it to be. LTC, death benefit, access to cash if absolutely necessary.

[Graham]

What do you think of Lincoln Moneyguard compared to Genworth's TLC?

[voliosclark]

From what I understand, the same guy who developed Money Guard is the same guy who developed Genworth's product. I have not personally seen the Genworth product, but I'm told it's almost a mirror image

[bunkerjunker]

I use OneAmerica's AssetCare which is basically the same thing, except it uses a WL chassis. AssetCare takes both NQ and qualified monies and can do a second to die. It has been a great tool for clients who have assets and want to take care of their LTC needs.