It is a common belief among today’s consumers that Long Term Care Insurance is too expensive. In addition, they also worry about paying for a product that they may not even need or end up using. Thankfully, the Long Term Care market has drastically changed over the last decade – now many companies offer new products that address and overcome these common objections.
In fact – Permanent Life Insurance with Long Term Care will address these concerns. Take this case for example:
Male, age 45, in good health, can purchase a $300,000 universal life policy for family income replacement for $182 per month. For an additional $15 per month, this individual can add a long-term care rider that can accelerate the $300,000 death benefit at 2% per month ($6,000) while living to pay for qualified long-term care expenses.
Now the client has addressed several needs with one policy. He has life insurance to protect and provide for his family. He has the ability to use the death benefit while living for long-term care expenses should the need arise. All of this gives him the added piece of mind knowing that a benefit will be provided while living or at death as long as the policy is kept in force.
For more information about life insurance with living benefits for long-term care, contact the team at CPS Insurance Services. We will show you how life insurance with living benefits for long term care can help your clients meet their long-term care concerns.
This article was authored by one of our industry partners. For more information, you can contact: