Please give me one example where it makes sense for a very healthy couple to buy a single premium hybrid rather than a traditional LTCi policy.
LTC for 64F
- Thread starter Limozine
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Please give me one example where it makes sense for a very healthy couple to buy a single premium hybrid rather than a traditional LTCi policy.
You don't ever listen to examples and don't understand how most of the hybrid solutions work that we discuss on this forum (101g "free" benefits vs. The many alternatives that we offer).
Tyler is a great option for OP.
I'm only asking you to give ONE example.... just one.
One example of where it makes more sense for a healthy couple to buy a single-premium hybrid than it does to buy a traditional LTCi policy....just one. Is that so hard for you to do? Or are you just trying to run from common sense?
I just received an email today from a 67 year old client that purchased a Traditional ltc policy from Transamerica 7 years ago. He is sick and tired of the rate increases past two years. IF he had bought Lincoln Moneyguard or Genworth TLC 7 years ago he would still own his coverage. Instead, he cancelled his coverage today.
"Very healthy couples" are not the only people that buy hybrid LTC insurance. Emphasis on very healthy and couples.
If he'd purchased the LMG or the GTLC 7 years ago, he'd have spent A HECKUVA LOT more in premium than he has with the traditional LTCi.... and I won't even mention the opportunity cost of the single-premium products. When you calculate the opportunity cost those policies cost A LOT more than traditional LTCi.
Can you give me one example of any healthy person (married or not) who is better off buying a hybrid rather than a traditional LTCi policy?
I'm sure you can't and you won't.
Well let's start by you telling me what you consider to be "better off" and then let's see if I could give you a case example that fits your definition.
What do you consider to be "better off?"
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Well, obviously in Jack's example, the client is now better off having spent premiums for 7 years and now having no coverage than if they had spent more and still were covered. /s
Of course, if the guy got sick of his coverage in year 7 and had MG or TLC, he could surrender for all premiums paid and only have his missed opportunity cost. But he wouldn't be sick of it since he wouldn't have had rate increases in the first place and still have substantial benefits locked in.
You will never get a reasonable response here so don't even try.
I only commented on this thread b/c Tyler is a good agent, located where OP asked, who offers BOTH traditional LTC AND hybrids, just like the majority of us do.
If the guy had invested his money, instead of putting it into the LMG, the earnings on it would have paid for the Transam LTCi premium for the rest of his life, including the rate increases.
