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insuranceboss
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Mark, in comparsion to Assurity's traditional SPL product do you find that this hybrid product from Legacy is a good deal? I did some due-dilegence here, being that the death benefit doesn't grow at all....ever...every scenerio where I thought I would use this I ended up using Assurity's "old fashioned" Single Premium Life.
I realize you can use the DB for LTC "qualified expenses" however you can use the cash-values of an SPL for LTC...or whatever else you want.
I realize you can use the DB for LTC "qualified expenses" however you can use the cash-values of an SPL for LTC...or whatever else you want.
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The answer to this question is more on the lines of the two different SPL’s serve different niche’s. The traditional SPL of Assurity only goes to age 79 and is a fully underwritten product not designed for the more unhealthy market. The Legacy product goes to age 85 is standard table 4 and up to table 8 up to age 80. Other differences are that the Legacy product is a guaranteed whole life while the traditional SPL is a participating whole life product. The Long Term Care Rider and Home Health Care rider of the Legacy product where approved are built in at no additional cost to the insured and typically because they are attached to the death benefit not the cash value will a lot of times be able to give the client a substantial amount more coverage for LTC or HHC. If the client wants to maximize their death benefit and are married or have another insurable interest, or have been declined the client has the option to do a second to die policy where the traditional side does not. Both products are very good to have in your arsenal but are good for certain situations.
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