LONG-TERM
CARE INSURANCE

THE ULTIMATE PRE-PLANNING TOOL

A Long-Term Care Insurance policy provides essential coverage in the event of a long-term care stay. In addition to offering competitive commissions for you, LTCI offers flexible policy options for clients looking to secure their financial future.

✓ Traditional and Asset-Based policies

✓ Coverage for future long-term care

✓ Asset preservation and peace of mind

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Uncover Long-Term Care Insurance Tools, Training, and More

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Long-Term Care Insurance (LTCI) is the ultimate pre-planning tool for healthy clients looking to secure their future finances and set aside funds for a long-term care stay. LTCI provides coverage in the event a person requires professional care and offers peace of mind that their hard-earned assets will be protected. LTCI also allows for flexibility in choosing the type of care they receive and where they receive it. In many cases, LTCI beneficiaries can remain independent for longer and delay a nursing home stay until absolutely necessary.

LTCI POLICY OPTIONS

We offer Traditional and Asset-Based LTCI policies that can be structured to meet your client’s specific circumstances, budget, and projected care needs. Our policies can be customized with a variety of funding options and may include features such as state partnership protection and a guaranteed death benefit.

IDEAL CANDIDATES FOR LTCI

In order to qualify for LTCI, an individual must be below a certain age and meet specific health criteria. Therefore, ideal candidates include any healthy adult who is planning for their future and looking to protect their hard-earned assets. It’s crucial to have the LTCI conversation with all your healthy clients, including those just starting to plan for retirement, even if they believe they will never need care.

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Traditional LTCI

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WHAT MOTIVATES CLIENTS TO PURCHASE LTCI?

To avoid being a burden on their loved ones
To protect their hard-earned savings
An increased probability of needing care
To qualify for tax deductions
To access lower rates when younger

LTCI PRE-SCREENING

Don’t let the fear of being declined coverage prevent your client from exploring LTCI. We offer complimentary and anonymous pre-screening to help determine whether your client would likely qualify for a policy. If they are a good candidate, they can proceed with confidence through the underwriting process. If not, we will advise on this up front, and we can provide information about the other options available to save them from the high cost of long-term care.

LTCI SPECIALISTS ON YOUR SIDE

In 2021, we took our commitment to Long-Term Care Insurance to the next level by acquiring LTC Solutions, a nationally licensed LTCI specialty firm based out of Cape Coral, Florida. Now, our LTCI services are backed by even more industry specialists, and we have access to all the top product carriers. Simply put, we’re better equipped than ever to serve your LTCI needs.

Whether you just have a few questions about a specific LTCI case or need all-inclusive support from an LTCI specialist, we’re here to help.

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TRADITIONAL LONG-TERM CARE INSURANCE

Traditional LTCI functions like a traditional insurance policy where the owner pays regular premiums in exchange for future benefits in the form of financial coverage for a long-term care stay. The policy does not hold cash value and can be structured to meet the client’s anticipated needs. Since it has zero cash value, Traditional LTCI may be a viable option for a healthy community spouse whose partner is seeking Medicaid benefits.

BENEFITS OF TRADITIONAL LTCI

Traditional LTCI does not require a lump-sum investment, making it the more cost-effective option. Your client can tailor the policy to their specific circumstances by customizing the benefit period, daily benefit amount, premium payment structure, and elimination period. They can structure the daily benefit amount around their state’s average cost of care, so they get the right amount of coverage without overpaying for benefits they don’t need.

STATE PARTNERSHIP PROTECTION

Traditional LTCI is also eligible for state partnership protection, which is available in most states. In the event they exhaust all their LTCI benefits and pursue Medicaid eligibility, the amount of policy benefits paid on their behalf will be exempt from Medicaid, allowing them to preserve additional assets.

TRADITIONAL LTCI MIGHT BE RIGHT FOR YOUR CLIENT IF THEY:

Are in good health and younger than age 79
Don’t have a large lump sum to invest
Want a cost-effective LTCI policy

ASSET-BASED LONG-TERM CARE INSURANCE

Asset-Based Long-Term Care Insurance, also known as Hybrid LTCI, consists of a life insurance or annuity contract with long-term care benefits attached. This type of policy is typically funded with a single premium, and its benefits can be customized to fit your client’s specific long-term care goals. The main difference between Traditional and Asset-Based LTCI is this policy has cash value that continues to grow.

BENEFITS OF ASSET-BASED LTCI

Since Asset-Based LTCI earns growth on a tax-deferred basis, your client can receive a return on investment. Then, if they require long-term care, they can access the proceeds tax-free. Your client can also fund the policy with an existing deferred annuity, and any gain recognized on that annuity can also be used tax-free in a long-term care situation.

GUARANTEED DEATH BENEFIT

Asset-Based LTCI counteracts the old “use it or lose it” mentality that often accompanied traditional policies. If your client never requires care, rather than losing the premium amount to the insurance company, Asset-Based LTCI offers a guaranteed death benefit for their intended heir(s). The death benefit is typically reduced dollar-for-dollar for any benefits paid on their behalf.

ASSET-BASED LTCI MIGHT BE RIGHT FOR YOUR CLIENT IF THEY:

Are in good health and younger than age 85
Can afford a lump-sum investment
Want a guaranteed death benefit

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