Asset Based LTCi is designed to help protect your clients’ assets by using the safety of whole Life Insurance. With a guaranteed premium, your clients will receive a guaranteed amount of Life Insurance that can be applied to their LTCi expenses. Your premium is also credited with a minimum guaranteed interest rate, meaning your cash value is guaranteed to grow each month. If your clients were to tired of the product, they have the option to request for a full return of your single premium – providing an increased level of flexibility that most clients are looking for.
Help your clients utilize an existing asset – whether that be money set aside in CDs, savings accounts, or other liquid funds – as the funding.
When recommending an Asset Based LTCi product for your clients, you can be confident that:
- Your client’s premiums will never increase
- The amount of death / long-term care benefits are guaranteed
- Their money earns interest with a minimum guaranteed interest rate
- They will never outlive their plan benefits when you select the optional Lifetime Benefit feature
- LTCi benefits are received income-tax free
- Interest accumulation is tax-deferred
- Life Insurance benefit, if unused for LTCi purposes, is payable on a tax-free basis
Flexible Case Design:
- One policy can cover an individual or joint insured’s – including spouses, partners, siblings, and even parent / siblings
- Funding sources can include: CDs, money market accounts, cash, life insurance cash value, annuities, and qualified assets.
- Typically designed as a single premium, but clients can pay premiums for 1 to 20 years, or even lifetime payments on a guaranteed level basis.
For more information about the many benefits of asset based LTCi, contact us today.