Disclaimer: Policy benefits and riders vary from state to state. Check with your America’s Long Term Care Insurance Expert to see what is available in your state.
There are several key advantages of using an LTC Annuity to provide long term care benefits:
Funding Resource: Your clients can transfer funds from an existing annuity or CD to an LTC Annuity.
Inflation Protection: The long term care benefit inflation is built-in an LTC Annuity. As the annuity grows, the the maximum long term care benefit available increases by two or three times (depending on the carrier) the increase in annuity value. Additionaly, your client can select an inflation protection endorsement to ensure an annual increase in th elong term care maximum daily and lifetime benefit amounts.
Underwriting: There are fewer underwriting questions with an LTC Annuity when compared with individual long term care insurance policies, Life/LTC combination policies and Life insurance with accelerated death benefit riders.
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