Nationwide CareMatters II Review

May 18, 2019

  1. ltcadviser
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    ltcadviser Guru

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    Nationwide has finally updated its CareMatters policy. The original policy was simply non-competitive from a pricing standpoint. The new CareMatters II policy is a marked improvement, however CareMatters II still has some shortcomings. I also wish Nationwide would realize the value of designing its policy with less choices. Consumers (and many insurance agents) need simplicity sometimes. One thing I will say about Lincoln Moneyguard II: Lincoln realizes the value of simple and easy to understand policies. Does Nationwide really need 3 return of premium options? I am interested in hearing the thoughts of other agents about Nationwide's efforts here.

    Nationwide CareMatters II Cash Indemnity LTC Hybrid Review - LTC Partner
     
  2. safeandsound
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    safeandsound New Member

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    Crickets? I was hoping someone would chime in as i am researching products now.
     
  3. Tothetop
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    Tothetop Super Genius

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    More options seems as though they are trying to open the market to even more individuals.

    With a ROP option of the policies cash value, it allows for more LTC benefit. That may cater to someone with less funds but wants decent coverage. It also makes the policy somewhat competitive in regards to LTC benefits even if you have the funds available. Without that option, CareMatters II isnt as strong as its competitors.

    The premium payment option of a lump-sum and recurring premium can also cater to someone with less assets or savings but willing to dump what they have and pay into a policy. Again, this is better than not buying a policy altogether.

    Overall I don't think the product is great. I never really believe any product is great. Iwould say a product is bad however. This one isn't. I just like to see if it works by getting the job done. I have yet to personally apply the product. If I had a Nationwide agency however, since they do other lines of insurance, I definitely would be hammering my clients to buy this product.
     
    Tothetop, Jun 14, 2019 at 4:19 PM
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  4. Tothetop
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    Tothetop Super Genius

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    I also like the retroactive payments of benefits for the elimination period. That's a winner winner chicken dinner for me.
     
    Tothetop, Jun 14, 2019 at 4:20 PM
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  5. ltcadviser
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    ltcadviser Guru

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    Well, Nationwide could have matched Lincoln’s 0 day EP if it really wanted to make a statement.
     
    ltcadviser, Jun 14, 2019 at 8:47 PM
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  6. Tothetop
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    Tothetop Super Genius

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    They gotta save something for CareMatters III lol. But in all seriousness, it being an indemnity product, it may not be wise to do a 0 EP as I can see that being an incentive for unnecessary or unwanted claims activity.
     
    Tothetop, Jun 14, 2019 at 9:17 PM
    #6
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