When listening to feedback from clients about traditional Long-Term Care Insurance, one of the most common objections to the coverage is the lack of guarantees: no guaranteed level premium, no guarantee they will use it, no guarantee of exactly how much benefit they will receive, and no guarantee of getting anything back.
The insurance marketplace has answered this concern using living benefits on life insurance policies to help provide guaranteed coverage for long-term care expenses. These policies have a guaranteed level premium, accelerate the death benefit in a guaranteed benefit amount for chronic care needs, and guarantee the client will receive a death benefit if LTC is not needed. The policies can also be set up to be paid-up in a chosen number of years – guaranteed. A growing number of carriers have added these benefits as riders or automatically built-in to new policies. Give the experts at Wholehan Marketing a call with your next client scenario and let us help find the best guaranteed fit for their needs.