Do you have a client who would like to purchase a Disability Income policy but face the difficulty of qualifying due to the nature of their profession? Perhaps their reported income is low and the amount of benefit available is insufficient.
Today, many carriers are offering linked benefit products which allow your clients to access a percentage of their policy’s death benefit in order to cover their Long-Term Care (LTC) expenses.
Typically, in order to qualify for this acceleration of benefit, the client will need to have lost the ability to perform two of the six Activities of Daily Living (ADL’s) which include eating, bathing, dressing, toileting, transferring and maintaining continence. Odds are that if you could satisfy the parameters to go on disability claim then you could also satisfy these parameters to exercise your LTC benefit.
This product qualifies your client only on their health, not on their occupation. As a result, you can offer a linked benefit plan to any of your clients who could qualify for a typical Life Insurance policy. There are numerous products that offer this LTC rider.
Whether your client is interested in a guaranteed death benefit, building cash value or a combination of both, there is a product available that can provide a monthly benefit in the event that your client is unable to perform two ADL’s and cannot earn their income.
Call your dedicated Life Marketing Specialist if you have a client to consider or if you would like to learn more about how linked benefit life products work.