mkd1204
Expert
- 66
Just curious if anyone is writing this or has experience with this product? I was reviewing it the other day and was wondering how it compares with other companies or how it compares to straight LTC?
Nationwide CareMatters
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Arthur Rudnick
Guru
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originally posted by mkd1204
Nationwide YourLife CareMatters Universal Life | Nationwide.com
It appears to be a hybrid policy, UL & LTC. They do not offer a stand-alone LTC policy.
Nationwide YourLife CareMatters Universal Life | Nationwide.com
It appears to be a hybrid policy, UL & LTC. They do not offer a stand-alone LTC policy.
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mkd1204
Expert
- 66
Thanks! I haven't looked at LTC in a while so trying to wrap my head around the differences between the linked benefit plans versus just buying a stand-alone LTC product.. The big thing I noticed is that they look to encourage single pay or ten pay at most so that is a big difference from UL.
Before I go too far down the rabbit hole, is there anything striking that I am missing that would make these better or worse than a standalone product? I will continue to read up on these but if anyone has a good link to an article or even a prior post on this, I'd appreciate it.. The carrier info pages don't always paint the true picture....
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Better or worse really depends on what you are trying to accomplish. The company will underwrite for LTC and life, so that can be a factor.
There will be a cost for the life insurance, therefore not as much LTC coverage.
I would get a quote and take a look and compare.
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35% more expensive than Moneyguard. 90 day waiting period for facility care. Indemnity.
I wouldn't pay 35% for indemnity so Lincoln Moneyguard is better policy value in my eyes. As is State Life Asset Care. But if you want indemnity, this will give it to you.
Linked benefit policies are life insurance benefits which can be accelerated for LTC needs plus an extension of LTC benefits. A common design is a 2 year acceleration + 4 year extension. So you can view the pools as either separate or together. Not sure it matters, really.
