While it’s been 10 years since we have seen a new LTC carrier enter the market place, it’s been longer since a new traditional LTC product launched with pricing below the current market. Like Moore’s law of technology (computing power doubles every 18 months), the field of LTC has its own law: product pricing increases with every new product launch.
The days of higher LTC pricing may have finally seen an about-face, if not, at least a significant break in the historic trend for product pricing. The change comes July 18th with the launching of National Guardian Life’s (NGL) new traditional LTC product- EssentialLTC.
This stand-alone long term care insurance product is designed to mimic a life combo product but provides higher long term care benefits with lower premium requirements.
Based on the limited pricing NGL has made available, the EssentialLTC will be priced approximately 20% below the current market when using like benefits. NGL will also incorporate many of the attractive product design features of yesteryear, including:
- Lifetime Benefits
- Single Pay and 10 Pay Options
- Special Joint Applicant Pricing
- “Reverse Combo” Feature
- Return of Premium
- Partial 1035 friendly
Contact your LTCi Marketing Rep today for more information.
Product launch date is July 18th:
AL, AK, AR, CO, ID, IL, IA, KS, LA, MD, MI, MN, MS, MO, NE, NV, NM, NC, OH, OK, PA, RI, SC, TN, UT, WA, WV, WY
Phase 1b Launch: GA, KY, ME, MA, NH, OR, TX, VA, VT, WI
Phase 2 Launch: AZ, CA, CT, DE, DC, FL, HI, IN, MT, NJ, ND, SD
Phase 3 Launch: NY
You have the option to distribute marketing toold and documents to your agents for this product launch. View and download the materials by clicking here.