Stand Alone Indemnity Plans.

Apr 16, 2019

  1. Lloyds of Lubbock
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    Lloyds of Lubbock Super Genius

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    My office does not do any LTC.
    A client asked about it.
    Does anybody offer a stand alone LTC plan in the state of Florida.
    Thanks.
     
  2. mcguiremc
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    mcguiremc New Member

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    MOO has one.
     
  3. Mr_Ed
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    Mr_Ed Guru

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    ughh... it's not an indemnity plan. only 40% of the monthly benefit can be paid as an indemnity plan. reimbursement works. why would anyone need an indemnity plan.
     
    Mr_Ed, Apr 16, 2019
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  4. ltcadviser
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    ltcadviser Guru

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    No, as Scott mentioned Mutual of Omaha has 30% cash on its Secure Solution policy in FL; and 40% cash on its Custom Solution policy in FL. MOO also has increased rates for FL residents compared to its rates in the other 49 states. So, its is not a good bargain.

    To get 100% cash indemnity you will need to look at the Securian SecureCare linked benefit policy or the Nationwide Care Matters linked benefit policy. The Securian policy is better.
     
  5. Mr_Ed
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    also known as, "let me give the insurance company my cash so that they can give me my cash back."
     
    Mr_Ed, Apr 16, 2019
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  6. ltcadviser
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    ltcadviser Guru

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    Maybe if you would speak more to high net worth clients you will realize they do not care about repositioning an amount of money such as $80,000, $100,000 or $150,000. They actually like the concept, the guarantees, and the leverage.
     
  7. Mr_Ed
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    Mr_Ed Guru

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    to get a "cash benefit" repositioning doesn't make sense.
    keep your cash.
    then use your own cash in combination with an LTCi policy.
     
    Mr_Ed, Apr 16, 2019
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  8. ltcadviser
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    ltcadviser Guru

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    For the rest of America and financial advisors, linked benefit policies are LTCI policies. Just not in MrEdWorld. Jump in. The water is warm.
     
  9. Lloyds of Lubbock
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    Lloyds of Lubbock Super Genius

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    Well, thank you for all the information.
    Greatly appreciated.
     
  10. Mr_Ed
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    Mr_Ed Guru

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    cash value life insurance is as unsexy today as it's always been.
     
    Mr_Ed, Apr 17, 2019
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