Lincoln Money Guard

[LVGUY]

Is anyone selling this product on a regular basis? Is there any IMO specializing in this product with lead sources and sales ideas? It would seem like a list of CD holders might work. Has anyone attempted marketing this way?

 

[Bob_The_Insurance_Guy]

Going to a meeting about it on Thursday. I will take notes and let you know what I find out.

Any questions you want me to ask?

 

[Arthur Rudnick]

Money Guard is a Universal Life product with a LTCi rider. It is a one-pay policy and for any kind of decent LTCi benefits, (depending on age), you're talking a minimum of a $100,000 payment.

There is underwriting for both life & ltci.

Just because someone has $100,000 sitting in a CD does not necessarily have a need for either life or ltci.

 

[GreenSky]

Money Guard is a Universal Life product with a LTCi rider. It is a one-pay policy and for any kind of decent LTCi benefits, (depending on age), you're talking a minimum of a $100,000 payment.

There is underwriting for both life & ltci.

Just because someone has $100,000 sitting in a CD does not necessarily have a need for either life or ltci.

I don't think you need $100K for a "decent" benefit. I spoke with a 63 yr old woman last week. $53K into Moneyguard generated $3,900 a month for 6 years.

It's certainly not going to cover 100% of home care, but it's a "decent" benefit.

Rick

 

[Arthur Rudnick]

Rick,
Just like a stand-alone LTC policy, there are options available on Money Guard. The most costly and most important? An inflation rider. Does that 63 yr. old have a inflation rider included? At 63, she should.

I have a quote for a 71 yr. old male, non-smoker without an inflation rider and the numbers are:

One-time Premium: $218,000
LTC Benefit: $720,000 payable at $10,000/month for
72 months
Death Benefit: $240,000

$53,000 into a LTC benefit of $280,000, is not a bad return.

 

[briko3]

Don't forget that it's got a ROP feature on the single pay. (You can also pay over time, but it doesn't have ROP)

 

[GreenSky]

Rick,
Just like a stand-alone LTC policy, there are options available on Money Guard. The most costly and most important? An inflation rider. Does that 63 yr. old have a inflation rider included? At 63, she should.

$53,000 into a LTC benefit of $280,000, is not a bad return.

in a perfect world, I would have her buy a policy from MedAmerica with 5% compound inflation.

But even 20 years from now, a 50% benefit is still better than a zero benefit.

The compromise is to deposit 100K I to Moneyguard with inflation rider. When we meet again, I will be discussing this with her.

Rick

 

[BrokersMarketingService]

Is anyone selling this product on a regular basis? Is there any IMO specializing in this product with lead sources and sales ideas? It would seem like a list of CD holders might work. Has anyone attempted marketing this way?

We are an IMO located in Southern California and serving agents across the country. LTC is a particular niche of ours.

We will have 2 workshops on June 9th, focusing on LTC and MoneyGuard is part of the workshop. I don't want to run afoul of the advertising rules but I can post more information if people are interested.

--Mark

 

[CALTCAgent]

We are an IMO located in Southern California and serving agents across the country. LTC is a particular niche of ours.

We will have 2 workshops on June 9th, focusing on LTC and MoneyGuard is part of the workshop. I don't want to run afoul of the advertising rules but I can post more information if people are interested.

--Mark

Since Moneyguard/LTC is a "niche" of yours, why should someone contract with you?

What do you in particular bring to the table?

This ought to go nowhere, lol.

 

[0b1kanobee]

Since Moneyguard/LTC is a "niche" of yours, why should someone contract with you?

What do you in particular bring to the table?

This ought to go nowhere, lol.

You get a free pen.