The traditional Long Term Care Insurance market has finally found a solution to provide guaranteed level premiums. Without the fear of a potential future rate increase, advisors and clients alike will no longer have to shy away from purchasing traditional LTCi policies.
Now the marketplace offers a way to structure premiums with guaranteed, non-cancelable premiums that are level for the life of the policy holder.
Not only can the policy guarantee level premiums, it also generates a death benefit and cash value over the life of the contract – all for an affordable cost.
See below for detail of what an additional $1,000 per year can purchase for a 55 year old couple looking to explore multiple LTCi options:
- Non-Cancellable Premiums with no rate increase exposure
- Conversion from a joint 10 year plan to a joint unlimited plan
- Reduced Elimination Period
- Guaranteed second to die death benefit with no LTC claim
- Guaranteed cash value accumulation
|Leading Traditional LTCi||Pay For Life – Asset Based|
|LTC Monthly Benefit||$6,000 per claimant||$6,000 per claimant|
|LTC Benefit Period||10 years combined||Unlimited/Lifetime|
|Elimination Period||90 Days||30 Days at Home, 60 for Facility|
|Death Benefit||N/A||150k guaranteed|
|Guaranteed Cash Value Year 10||N/A||28k|
|Guaranteed Cash Value Year 20||N/A||64k|
To learn more, contact your LTCi Specialist today.