It is a common belief amongst today’s consumers that Long-Term Care Insurance is too expensive. In addition, they also worry about paying for a product that they may not even need, or end up using.
Thankfully, the Long-Term Care market has drastically changed over the last decade – now many companies offer new products that address and overcome common objections.
Consider coupling a Permanent Life Insurance Policy with a Long-Term Care Rider to affordably cover all your clients needs.
Take this case for example:
Male, age 45, in good health, can purchase a $300,000 universal life policy for family income replacement for $182 per month. For an additional $15 per month this individual can add a long-term care rider that can accelerate the $300,000 death benefit at 2% per month ($6,000) while living to pay for qualified long-term care expenses.
Now the client has addressed several needs with one policy – he has life insurance to protect and provide for his family and the ability to use the death benefit while living for long-term care expenses should the need arise. All of this gives him the added piece of mind knowing that a benefit will be provided while living or at death as long as the policy is kept in-force.
For more information about life insurance with living benefits for long-term care contact your Life Sales & Marketing Manager.