Nope, pretty sure it was a Male non-smoker that I ran.
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The problem is that you dont understand the consumer mindset.
People dont buy LTCI because they dont want to loose control of a major portion of their assets;
LTCI is a well understood need, but the need to keep control of their assets in case of emergency (or depletion of other assets) is very often a much greater factor in their decision making.
This is why people gravitate to MoneyGuard type products.
They can leverage their money to gain a much needed LTC benefit, and they get to keep control of their money, grow their money, and create an enhanced DB.
People dont care about ROP when they are fearful that the LTC premium will erode their retirement assets.
Also, with MoneyGuard, you get a residual DB even if you use up your LTC benefit.
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Statistically, is twice the benefit actually needed for the average LTC claim?
Is a minimum 7 year bucket of money not enough to cover most LTC claims??
If I remember correctly the average LTC claim lasts about 4 years.
An $800k+ bucket of money at age 75 is nothing to turn your nose up at either way. Especially when you still have control of MORE than what you paid into the policy.
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Its funny how Health agents who are supposedly trained in the insurance field dont understand very simple combo products; but clients with no insurance or financial training whatsoever have no problem understanding it at all when it is properly explained to them.....
The 10 year old grandson of a client of mine sat in on a MoneyGuard presentation a few months ago.
The 10 year old was able to understand the product....
It baffles me that an insurance agent claims this is a complicated product.
An HSA is more complicated than MoneyGuard.
But of course to understand it you would actually have to take the time to properly learn about the product.
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I totally agree with this statement.
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I used MoneyGuard as an example, which I am a fan of. JH has a good product too.
I am yet to be convinced that true LI with a LTC rider is a good deal for the consumer (even though my JH wholesaler tries desperately to convince me).
But this is a different product than a MoneyGuard type product.
What's amazing is how much good press the LTC combo products get. Yet, the combo products make up a very small percentage of the business. The number of new traditional LTCi policies sold each year is, conservatively, about 15x as many Life/LTC combo policies that are sold.
Combo products are not the wave of the future.
They just don't offer enough value for the money.