Clients today are looking for solutions with the flexibility to handle multiple financial needs in a variety of potential scenarios. A common complaint about Long-Term Care is many clients feel the likelihood they should have an extended health care event is zero.
Traditional Long-Term Care Insurance is protection designed to protect against a singular event – a long-term care event. If your client can’t envision a world where they should need assistance, the idea of purchasing protection for an event that will never happen seems useless and wasteful.
Instead of trying to persuade the client to purchase what they view as unnecessary protection, why not propose a plan that offers additional layers of protection for scenarios that they do view as likely.
But maintains enough flexibility to provide value if the client was correct, and they never use the LTC benefits. It’s designed to protect your clients’ assets by using the safety of whole life insurance.
With a guaranteed premium, your clients will receive a guaranteed amount of life insurance that can be applied to their LTCi expenses. Your premium is also credited with a minimum guaranteed interest rate, meaning your cash value is guaranteed to grow each month.
And should your clients grow tired of the product, they have the option to request a full return of premium, thus providing an increased level of flexibility that many clients are seeking.
Almost as if they gathered all of the Long-Term Care experts together in a room and asked- what can we do to design the perfect, most flexible product for you the advisor but still work to protect your clients?
Here’s what they came up with:
These policies can help your clients prepare for a long-term care event if needed, or leave a legacy to their beneficiaries all within one single policy.
To learn how to show your clients how to position themselves in the re-envisioned Long-Term Care world, please contact me today.
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