Life with LTC Rider/Accelerated Death Benefit
Clients have the option of meeting their Long Term Care needs in a variety of ways.
- Stand-alone LTC (Long Term Care) products – See our LTC tab for carriers.
- Hybrid Products – allow clients to purchase a low death benefit and have a majority of their money remain liquid. Clients have liquidity, a death benefit and long term care coverage. (Lincoln’s MoneyGuard, Genworth’s Total Living Coverage, One America- are examples of this type of product)
- Life Insurance with a Chronic Illness/ LTC RIDER. It’s important to understand the differences in the riders. Only a few carriers offer a true LTC rider. Many are chronic illness riders, where the illness must be deemed permanent. See the comparison below. Not all carriers that we represent are included in this comparison. Nationwide is another carrier that offers a very competitive rider that should be considered.
THERE IS A GREAT DEAL OF CONFUSION OVER THE DIFFERENCES BETWEEN THE LTC AND CHRONIC ILLNESS RIDERS. THIS IS A GREAT COMPARISON TOOL FROM NATIONWIDE.