Top 3 Single Premium Life Companies

[inreverse]

Looking for suggestions for SPL that also offer some type of long term care benefit

 

[Tahoe Ray]

Looking for suggestions for SPL that also offer some type of long term care benefit

Lincoln Moneyguard and State Life/One America's Asset Care series will cover most of your bases.

 

[aclaro]

MassMutual has Care Choice as well and Nationwide has an indemnity product.

Do you find state life competitive? I like their continuation of benefit rider but it's not approved in MA.

 

[Tahoe Ray]

MassMutual has Care Choice as well and Nationwide has an indemnity product.

Do you find state life competitive? I like their continuation of benefit rider but it's not approved in MA.

I do find then competitive...especially for joint insureds, people who want lifetime LTC coverage, or people looking to fund the policy with an annuity or qualified assets.

 

[kamp]

Looking for suggestions for SPL that also offer some type of long term care benefit

Pekin Life

We've sold over $2 million of it in the last two months. It's a very, very good product on every level. Let me know if you want more info.

 

[Tahoe Ray]

Pekin Life

We've sold over $2 million of it in the last two months. It's a very, very good product on every level. Let me know if you want more info.

I've never even heard of them. So can you describe the LTC feature a little?

 

[kamp]

I've never even heard of them. So can you describe the LTC feature a little?

It allows them to choose the percentage from 2%-4.5% of the death benefit until it's gone.

The product pretty much is straight forward, no frills.

Ran a quote for a 68 year old male. Dump was $150K which created $250,682 and they can access up to 4.5% per month for LTC if they've been in nursing home for 60 consecutive days. No fees. If they want all their money they can surrender anytime with no penalty and it has accelerated death benefits.

It doesn't pay bad either. It's not Oxford Life (crap) or Equitrust but it's very fair.

Simplified issue under $100K

 

[inreverse]

Who are IMOs representing One Life\State Life?

 

[Tahoe Ray]

It allows them to choose the percentage from 2%-4.5% of the death benefit until it's gone.

The product pretty much is straight forward, no frills.

Ran a quote for a 68 year old male. Dump was $150K which created $250,682 and they can access up to 4.5% per month for LTC if they've been in nursing home for 60 consecutive days. No fees. If they want all their money they can surrender anytime with no penalty and it has accelerated death benefits.

It doesn't pay bad either. It's not Oxford Life (crap) or Equitrust but it's very fair.

Simplified issue under $100K

So it is nursing home only? Is the LTC accleration a $4$ reduction of the DB?

 

[kamp]

So it is nursing home only? Is the LTC accleration a $4$ reduction of the DB?

Payments will continue as long as the insured continues to receive care and the maximum lifetime benefit has not been paid. The payments reduce the death benefit, cash value and indebtedness of the policy

It covers nursing home, ADC and HHC.