When you work with the senior health insurance market, you deal largely with Medicare. Because many of your cli..Read more »
Life Insurance with LTC benefits….the answer to your client’s concern!
- No rate increases
- Immediate funds in case of death
- Monthly access, if needed, to help pay for Long Term Care
- The insurance WILL be used (living=LTC or a death benefit)
Client: 65 female
Death Benefit: $250,000
Monthly LTC Benefit: $10,000
Premium: (client pay lifetime, single pay, 10 pay, etc….)
- $371.23 (monthly)
- $4,361.22 (annual)
- $8,039 (10 pay)
- $64,208 (single pay)
If you have a client that thinks they will self insure…..wouldn’t it make sense to have a life with ltc policy? Take the example above…the client has $64,208 (which is about a 1-1/2 years in a facility or less in a few years?)….wouldn’t it make sense to have access to $250,000 vs the $64,208 in this case example? If they need LTC, they’ve dramatically increased their pool of money. If they die, they’ve leveraged income tax free money to their family. Make sense?