[vc_row][vc_column][vc_empty_space height=”10px”][vc_column_text]GENWORTH- TOTAL LIVING COVERAGE This products is NO LONGER AVAILABLE!
Rate Change October 2015- CLICK HERE
Total Living Coverage crediting rate will change from 3.85% to 3.60% on October 19th. October 16 is the last day to submit a TLC quick request ticket in order to receive the 3.85% crediting rate. October 18 (Sunday until midnight) is the last day to submit apps via fax. The fax number for any last minute applications is 888-296-1081. Please note that this change does not impact CA, HI or NY nor does this have any impact on inforce policies.
With this change, TLC will still provide, on average, 22% more LTC and life insurance benefits than the leading competitors. Also keep in mind that 40% of all LTC claims last less than one year, those that exceed 1 year average 3.9 years in duration. Having clients pay the high cost for lifetime benefits doesn’t always make sense. Did you know that it will take over 9 years for a lifetime benefit to pay the same amount of benefit that Genworth will pay in 6 years? Be sure to do your homework and allow me to show you how Genworth can provide higher benefits for a more appropriate duration for your single and married clients while making sure their beneficiaries ALWAYS receive a death benefit.
Leverage your clients’ lazy money into valuable protection. If your clients have money sitting in low-return financial products, consider talking to them about Total Living Coverage® (TLC) from Genworth Life Insurance Company. This linked benefit life insurance product may provide your clients with instant access to almost 5.5 times their initial premium for long term care, and approximately 2 times their premium in a death benefit. TLC provides plenty of flexibility too. If your clients ever change their mind, the optional Return of Premium Rider* lets them get their money back after policy year three. And whether or not they need long term care, they’ll always get substantial value from the policy. Overall, TLC could work a lot harder for your clients than CDs and money markets.Two client needs. One product.Total Living Coverage® (TLC)* links the power of universal life and long term care (LTC) insurance in a single flexible life insurance policy. The “what if I never use it” objection disappears because your clients will have coverage regardless of what the future holds.
No matter what, we’ve got them covered
And if your clients change their mind or need to get their money out – they can get back at least their initial premium**
Leverage your clients’ lazy money into valuable protection.
Over the coming months, check back to see TLC features and benefits highlighted:
Get the information you need to confidently present the inflation protection option to your clients.
The Advantages of Full Underwriting
Learn about the lower decline rates and better value offered by full underwriting.
Guaranteed Minimum Benefit Rider
Learn more about how the built-in Guaranteed Minimum Benefit Rider (GMBR) works and is triggered.
Long Term Care Insurance (LTCI) Benefits
Have you ever wondered just how much leverage your client could potentially receive? Here’s the good news. These fact sheets clarify how to use leverage factors to estimate your client’s initial specified amount and total LTCI benefits:
- Leverage and the Initial Specified Amount Fact Sheet (159690FSA)
- Leverage and the Total Long Term Care Benefit Fact Sheet (159690FSB)
Also available: Play the TLC quiz game and find out how well you know TLC LTCI benefits!
Your clients want to help their beneficiaries continue to meet their financial obligations and maintain their lifestyles. TLC can help.
Accelerated Benefit Rider and Extension of Benefits Rider
By paying an initial lump sum premium for TLC, your clients immediately create a death benefit as well as a pool of benefits to pay for covered long term care needs. But what exactly is this pool?
- Where Do My Long Term Care Benefits Draw From? Fact Sheet (160259FS)
- ABR + EBR = 7x Leverage Case Study (160259CS)
It can be difficult to determine which LTCI solution is most appropriate for each of your clients’ unique situations. That’s why we’ve put together these materials to help you understand the differences.
TLC vs. Chronic Illness Riders
When it comes to LTC coverage, your clients have options. They look to you for direction on which solution is best for them. And you can rely on us for the information you need. Learn how these two LTC solutions vary in six key areas and see how hypothetical examples could play out in real life.
- TLC vs. Chronic Illness Riders Fact Sheet (160543FS)
- TLC vs. Chronic Illness Riders Case Study (160543CS)
Download the TLC Simulator now!
The TLC Simulator is available on your computer, iPad® and other tablet devices.
eValuateTM is a pre-quote underwriting tool for evaluating your client’s possible underwriting category for more accurate premium quotes, which can mean more placed business. Access eValuate here.
TOTAL LIVING COVERAGE®
How hard is your client’s money working?
Put that lazy money to work
Total Living Coverage® Simulator
* If you are selling in CA, HI, or NY, please click here.
**To receive this benefit, the client must select the optional Return of Premium Rider (ROP), which requires a higher initial premium and is available only when the client is applying for TLC. Lifetime money back guarantee begins after policy year three. Because TLC rider charges reduce cost basis (not below zero) it is possible for a portion of the Return of Premium Rider benefits to be taxable.
Total Living Coverage® is underwritten by Genworth Life Insurance Company, Richmond, VA. Total Living Coverage universal life insurance with long term care benefits is subject to state availability and the terms, issue limitations and conditions of Policy Form No. ICC12-GL5000 and Rider Form Nos. ICC12-GL500R, ICC12-GL501R, ICC12-GL502R, and ICC12-GL503R or Policy Form No. GL5000 0212 et al. and Rider Form Nos. GL500R 0212 et al., GL501R 0212 et al., GL502R 0212 et al., and GL503R 0212 et al or GL503R 0614 et al. Policy, benefits and riders may not be available in all states. Terms and conditions may vary by state.
All applications are subject to the underwriting requirements of Genworth Life Insurance Company.
All guarantees are based on the claims-paying ability of the issuing insurance company.
Refer to the policy for full information about product coverage, features, benefits and limitations. This web page provides a summary of coverage. Policy terms and provisions will prevail.
FOR PRODUCER USE ONLY. NOT FOR PUBLIC USE OR DISTRIBUTION.