The traditional Long Term Care Insurance market has finally found a solution to provide guaranteed level premiums. Without the fear of a potential future rate increase, advisors and clients alike will no longer have to shy away from purchasing traditional LTCi policies.
Now the marketplace offers a way to structure premiums with guaranteed, non-cancelable premiums that are level for the life of the policy holder. Not only can the policy guarantee level premiums, it also generates a death benefit and cash value over the life of the contract – all for an affordable cost.
See below for detail of what an additional $1,000 per year can purchase for a 55 year old couple looking to explore multiple LTCi options:
- Non-Cancellable Premiums with no rate increase exposure
- Conversion from a joint 10 year plan to a joint unlimited plan
- Reduced Elimination Period
- Guaranteed second to die death benefit with no LTC claim
- Guaranteed cash value accumulation
| Leading Traditional LTCi | Pay For Life – Asset Based | |
| LTC Monthly Benefit | $6,000 per claimant | $6,000 per claimant |
| LTC Benefit Period | 10 years combined | Unlimited/Lifetime |
| Elimination Period | 90 Days | 30 Days at Home, 60 for Facility |
| Death Benefit | N/A | 150k guaranteed |
| Guaranteed Cash Value Year 10 | N/A | 28k |
| Guaranteed Cash Value Year 20 | N/A | 64k |
| Non-Cancelable Premiums | No | Yes |
| Annual Premium | $3,700 | $4,700 |
Contact us today to learn more.
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