Indemnity Vs Nonforfeiture?

[gettingstarted]

If you had to choose between the two (cost reasons) - which would you consider most important or useful?

Thx.

Edit - I'm designing a case and after posting and then reading more - I've decided against nonforfeiture...

BUT now I want to ask what your opinion is on what is more important, having indemnity rider or daily benefit - as in - would you rather have higher daily benefit without indemnity or lower daily with indemnity...?

 

[Mr_Ed]

It depends upon a number of factors:

1) the cost of the indemnity rider.
2) the goals of the client.


Do they want to be able to pay a family member who provides care for them? If so, the indemnity rider can make sense if it's reasonably priced.

 

[JMO Fan]

LTC regs were originally drafted to require nonforfeiture. Regulators relented on the rule when advised of nonforfeiture's high cost. FWIW, regulators think it's very important.