Looking for SPIA with LTC rider

padthaiforlunch · 06-07-2008, 11:55 AM

Do you know who offers a SPIA with an LTC rider? If so, WL or UL?

One America has a second-to-die WL with LTC rider as well as an annuity with an LTC rider, but the commissions stink So I would like to research alternatives.

senior-advisor-indiana · 06-07-2008, 09:57 PM

I have never seen a WL or UL annuity.

padthaiforlunch · 06-08-2008, 11:58 AM

Lol. How right you are.

I meant to say Single-premium WL, or UL with an LTC rider. That and an annuity with an LTC rider.

Do you know who writes these?

senior-advisor-indiana · 06-09-2008, 08:26 PM

John Hancock has a UL-G with LTC rider.

thewold · 06-10-2008, 11:11 AM

United of Omaha has the new living care annuity, after two years, you get a virtual account that is worth 3 times the value of the annuity to use towards LTC. The value gets paid out by dividing the acct value by 730, then once you exhaust your acct value, the LTC rider acts like an extension of benefit that will pay out for another 4 years. The interest rate is pretty low and a portion of that goes to buy the LTC rider. Only really makes sense for 75 and up IMO, where LTC premiums are very high. Not to mention, it would take $110,000 to cover a nursing home that was 150/day based on payout method. For a couple that is 220,000. I would recommend a fixed annuity where the interest will cover the premiums, get both insured if a couple, and preserve principle for a much lower investment. Plus, the living care annuity is only for a single annuitant, no joint policy like the One America WL. Great commission though, like 8%.

senior-advisor-indiana · 06-10-2008, 11:50 AM

I would not seel the United of Omaha. They obviously do not like their agents. They came out with a GI FE plan and will not allow agents to sell it. It is cheaper than the underwritten product that they let agents sell.

Graham · 06-08-2009, 12:07 PM

Originally Posted by padthaiforlunch

Lol. How right you are.

I meant to say Single-premium WL, or UL with an LTC rider. That and an annuity with an LTC rider.

Do you know who writes these?

Genworth has a UL with an LTC rider it's called Total Living Coverage (TLC) you can find more info. here:
TLC Overview - Genworth Financial - USA

InsureGuy5 · 06-09-2009, 10:23 AM

Great American also offer a hybrid LTC Annuity with a benefit multiplier.

Ichiban · 06-10-2009, 06:29 PM

LTC Combo products or LTC Riders I would encourange you to look at these.

Life products: Moneyguard Reserve from Lincoln National.

Annuities: PremierMark and RateMark from Investors Insurance Corporation.

bunkerjunker · 08-12-2009, 10:17 PM

Originally Posted by padthaiforlunch

Do you know who offers a SPIA with an LTC rider? If so, WL or UL?

One America has a second-to-die WL with LTC rider as well as an annuity with an LTC rider, but the commissions stink So I would like to research alternatives.

State Life (One America) just revamped these products and increased the commissions. Quite a unique product with that second to die. The Immdiate Care annuity is a good SPIA option now.

insuranceexec · 08-13-2009, 07:54 AM

Pad,

Are you still looking?.........LOL

ims01 · 08-13-2009, 12:20 PM

Life of the Southwest. (LSW)

dlvhi · 08-22-2009, 11:57 PM

Hello all

I am looking for a SPIA with a LTC rider that doesn't require underwriting.

Does such a creature exist, and if so, what do you get with the rider?

Thanks

yankee466 · 12-23-2009, 09:52 AM

Originally Posted by ims01

Life of the Southwest. (LSW)

LSW says they have no such animal. They have a product that lets you withdraw additional money if you have an ADL issue, but it is nothing like a MoO product that triples the money for LTC.

emptyeternity · 12-23-2009, 10:12 AM

Originally Posted by dlvhi

Hello all

I am looking for a SPIA with a LTC rider that doesn't require underwriting.

Does such a creature exist, and if so, what do you get with the rider?

Thanks

A huge premium!