Understanding the Need for Permanent Life with LTC
Understanding the Need
With a Permanent Life with Long-Term Care Benefit Rider policy, you can help your clients secure their health and obtain this important protection, differentiating yourself in the marketplace as a knowledgeable, trusted insurance professional, an Advocate!
Why Life and LTC?
Client portfolios may already include Medicare plans (Med Supp, MA), Final Expense (Life), Annuities and Assets Under Management (AUM). Why supplement that portfolio with Permanent Life Insurance with a Linked Long-Term Care Benefit Rider?
- 1 in 4 Americans age 65 will live into their 90’s
- 70% of those over age 65 will need some form of extended care. If married, there is a 90% chance that at least one will need care.
- 90% of individuals have never had a serious discussion about Care Planning and why it is important.
- 71% of Americans worry about having enough money to last their lifetime.
“Statistics only show likelihoods. No one can predict the future, but the importance of planning ahead should never be minimized or ignored.
If you have insurance solutions that address care needs, it is a moral obligation to start the conversation. There is no better time than NOW.”
-Tom Randall
GoldenCare
National Marketing Director
Permanent Term Life (LBT)with Long Term Care Linked Benefit Rider is ideal for clients who:
- Want to combine Life Insurance and Long-Term Care Insurance in one policy.
- Have been turned down for Traditional LTC, Asset Based LTC, Life Insurance due to Health.
- Have a 10,20, 30-year term life insurance policy that has expired and are no longer able to renew for another 10,20, 30 years due to Health and increased cost at their current age.
- Are faced with the challenge of raising children while at the same time are caring for parents who need care “sandwich generation” and are now seeing the importance of this solution.
- Have young children and like the idea of adding life insurance coverage for them for a nominal additional cost to their own plan and giving their children the ability to convert this coverage to their own plan at age 26.
- Are concerned that their state will join the state of WA and enact legislation requiring every working age individual to own LTC coverage or face a sizeable additional payroll tax. This solution will meet that requirement thus avoiding the penalty.
- Know that 100% of everyone living will die and Life Insurance proceeds can help surviving family members replace income, pay mortgages etc. In addition, 40% of working age individuals under the age of 65 due to a tragic accident or catastrophic illness results in requiring some form of care. So live and die, you are protected! Live and need Care during your working years, you are protected!
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“Permanent Life Insurance with Linked-Long-Term Care Benefit Rider is retirement lifestyle protection – sheltering the financial assets clients spent their entire lives building. Without a plan in place, an unforeseen and unplanned health event could be the single biggest UNFUNDED financial liability clients could face during retirement years — and it could literally “wipe out” a lifetime of savings.”
Dennis Rinner
GoldenCare
Director of Strategic Accounts
Be the Go-To Resource your clients need and expect!
Informative Videos
Looking for how to do something? These videos walk you through all you need to know!
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Sales Strategies Videos
Whether looking for additional coverage explanations as an agent, or consumer-use videos to help establish the need, we have an array of video content you can use!