Traditional Long Term Care Insurance Advantages

As we know it, traditional LTC insurance helps clients manage their long-term care expenses.  But did you know it has other advantages too? 

A traditional LTCi policy can be significantly less expensive than other funding alternatives.  It’s the best way to ensure people can get the LTC services they need.  

Opportunities to purchase with lower premiums

• The younger you are when purchasing Long-term Care Insurance, the lower the premiums
• The younger an applicant the more likely to pass the health requirements that are part of the underwriting process that determines eligibility
• Inflation protection flexibility can dial premiums down.  Try adding a 10, 15, or 20 year duration to the policy to check out the premium adjustments.  

Partnership Protection 

• Policies can be tailored to meet state partnership requirements, allowing policyholders to protect assets from the Medicaid spend down

Tax Advantages (Qualified Plans)

• Premiums for traditional LTCi policies as well as benefits paid are intended to be tax free

Quality of Care 

• Care Coordinator Services:  A care coordinator is available to assess needs, develop a plan of care and arrange for LTC services
• Cash & Reimbursement Benefits:  The flexibility to choose how they prefer to receive policy benefits
• Calendar Day Elimination Periods:  Providing clients coverage faster than receiving benefits under a Service Day contract
• Home Health Care:  A LTCi plan can help your client stay at home as long as possible 
• Inflation Protection:  Adding inflation protection to your policy can ensure you have adequate coverage down the road when your likely to need care 
• Buy-Up Option:  flexibility to adjust inflation protection once a year as needs change
• A Solution for the Middle Market:  Is standalone LTCi policy can be the most affordable solution for Middle Market Americans
• Cost of Care:  Cost of LTC services continues to rise.  A LTCi policy can help offset these costs
• Return of Premium:  An option to receive premiums back if you don’t use the coverage.  Check out our materials to see what the chances are that someone turning age 65 will need LTC services