Long Term Care Insurance
Overview & Policy Types
New Alternatives to LTCI
There is a new revolution in Life Insurance greatly affecting Long Term Care; THE HYBRID POLICY or otherwise known as LINKED BENEFITS.
These are Life Insurance Policies that provide provisions for Long-Term Care making the death benefit accessible to the insured while they are still alive. Unlike nominal Long-Term Care, these are not "use it or lose it products". Any remainder of Death Benefit not used goes to the insureds beneficiaries.
Some Carriers even offer these policies with riders for Retirement Income, Return of Premium, and other benefits. This combination of Long-Term Care funding with Life Insurance has opened a new door in an Industry fraught with increasing premiums and diminishing benefits! Long Term Care has been through some rough times as of late.
Although still a viable product it needs to looked at closely when sold. Hybrids offer a gateway to an entirely new clientele!
Quick Video About LTCI
Long-Term Care can mean different things to different people and it affects everyone touched by it either directly or indirectly! The phrase "Long-Term Care" refers to the help that people with chronic illnesses, disabilities or other conditions need on a daily basis over an extended period of time.
To help cover potential long-term care expenses, some people choose to buy long-term care insurance. Policies offer many different coverage options.
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