Looking for a life-based long-term care product that can cover two people under one policy? Sometimes clients are unsure whether or not they need protection – and may want to cover their spouse instead.
Kill two birds with one stone with a joint life product, which not only protects your client and his/her spouse, but also uses the same funds to do so.
This product offers the ultimate level of flexibility – it allows your clients access to a shared pool of long-term care benefits stemming from one premium payment. In addition, the second-to-die whole life structure creates a larger pool of shared benefits than they would otherwise have from a single life policy.
And for your single clients, the policy can be structured for two family members instead – assuming they do not have an age gap of more than 25 years.
Compare your options:
| Example clients Jim and Bonnie are married, both age 65, and in good health. | ||
|---|---|---|
| Jim $100,000 total single premium |
Jim and Bonnie $200,000 total single premium |
Bonnie $100,000 total single premium |
| Benefit period: Lifetime Monthly LTC benefit: $4,279 Death benefit: $106,984 |
Benefit period: Lifetime Monthly LTC benefit: $7,406 Death benefit: $246,891 |
Benefit period: Lifetime Monthly LTC benefit: $3,927 Death benefit: $130,908 |
Other benefits include reduced cost of insurance charges and underwriting flexibility.
To learn more about the life-based long term care product and additional products being offered in the asset-based LTCi marketplace, contact your LTCi Sales Rep today.