Long Term Care Policy Vs Rider on Life Policy

[scagnt83]

Anyway, I don't receive a ton of phone calls from consumers looking at these life policies generally; I do however probably receive a half dozen or more calls per day from consumers that "were shown Lincoln Moneyguard by their financial adviser." .

MoneyGuard makes extremely little sense in this rate environment. "FAs" recommend that because they are wired to "gather assets". And the lump sum aspect of the product fits into their business model as they see it.


Consumers do not look for the Permanent Life Policies with LTCI Rider, because most of them are unaware they exist.

 

[ltcadviser]

Consumers do not look for the Permanent Life Policies with LTCI Rider, because most of them are unaware they exist.

Without me having to analyze a dozen GUL policies with LTC riders (not chronic illness) , which 3 policies would be reasonably competitive today? Nationwide??

 

[scagnt83]

Without me having to analyze a dozen GUL policies with LTC riders (not chronic illness) , which 3 policies would be reasonably competitive today? Nationwide??

Not to be difficult, but I already mentioned them in my very first post on this thread....

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LFG & Mass

 

[Tahoe Ray]

Without me having to analyze a dozen GUL policies with LTC riders (not chronic illness) , which 3 policies would be reasonably competitive today? Nationwide??

Definitely look at Nationwide but I doubt if there are a dozen GUL policies with true LTC riders...

JH, GW, Trans, Minnesota Life and AXA all have long term care riders. Out of that group, Hancock is not fully guaranteed and GW's can only be purchased on their IUL. Minn Life has it on their GIUL. I'm not sure about AXA but I've only seen it illustrated on their IUL.

Trans is a decent option. Indemnity plan, they actually sell LTC, and it is available on their TransAce GUL which also includes an ROP rider.

Downsides are you're limited to lesser of 2% face/mo (others have a 4% options) or the HIPAA per diem. Max face is 1m.

Not a problem for you but most of these riders (in most states) require you to be certified for LTC.

I'm sure there are others available...

 

[ltcadviser]

Alright, if I can find 2 hours of time one day I will review Nationwide, Trans, Mass and LFG. Maybe I will do a company shootout in a blog post.

 

[Jhold]

Thanks for the advice. All very helpful.

 

[LTCi Consultants]

Some of the asset based policies are a good choice if you have the horsepower to fund one. Analysis would have to be done on a case specific basis.