Allstate 50K Lump Sum LTC PLan, Any Ideas What It Is?

CALTCAgent

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Hello,

I spoke with a 72 year old lady that said she had a "small" LTC plan. Said she put 50K as a lump sum in a plan with Allstate 4 years ago and has no clue what the benefits are or what the plan is.

Needless to say she is confused, and she is an hour away from me, so I am looking for speculation on what that might be from anyone with knowledge about what Allstate offers.

My guess is its an annuity or "easy issue" single premium life as she says she is a diabetic with neuropathy at the present time.

I am getting her to dig up the policy, but wanted to see what Allstate might have.

Thanks!
 
Hello,

I spoke with a 72 year old lady that said she had a "small" LTC plan. Said she put 50K as a lump sum in a plan with Allstate 4 years ago and has no clue what the benefits are or what the plan is.

Needless to say she is confused, and she is an hour away from me, so I am looking for speculation on what that might be from anyone with knowledge about what Allstate offers.

My guess is its an annuity or "easy issue" single premium life as she says she is a diabetic with neuropathy at the present time.

I am getting her to dig up the policy, but wanted to see what Allstate might have.

Thanks!

Lincoln Moneyguard or similar product?
 
If they do, I can't see how she made it through underwriting unless she didn't have neuropathy when she took it out.


I don't know specifically about neuropathy in their underwriting. But I do know from Moneyguard cases I've written personally, that the underwriting is not strict. No medical, just a phone interview and an MIB check.
 
Update,

She says the policy is called "generation advantage" whole life, I believe through Allstate.

50K premium with death benefit 90K. Surrender charges starting at 7% and going down to 1% in year 7.

She didn't see anything with any LTC or "living benefits".

Anybody know about this plan and/or if there is any LTC benefits?

Thanks!
 
i suggest you get her policy # and phone # for the insurance company. call them, and have them explain her coverage to you..
 
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