References in periodicals archive ?
If you qualify, private payment options such as long term care insurance, linked benefits products or long term care riders on other insurance can help fill the gap between public assistance and the high cost of long term care services.
While guaranteed lifetime withdrawal benefits and income riders are expected to dominate in 2011, Laura Hahn, managing director of annuities at The Marketing Alliance, feels that long term care riders aren't getting the attention they deserve--possibly because they're still relatively new to the marketplace.
Paul Irving, annuity marketing manager at the Annuity Department, agreed that long term care riders represent a strong selling option for agents.
Weatherford feels that clients haven't discovered the true cost of health and long term care in retirement, but expects that once agents take the opportunity to help them understand how they can use insurance to protect them from those costs, long term care riders will become more popular.
I only sold annuities with long term care riders to those folks that were not healthy enough to qualify for coverage with my pure long term care carriers.
Nimble carriers will be considering earlier support plans by offering annuity base plan products with guaranteed purchase options for long term care riders in the future.
Also known as asset-based long term care insurance or linked benefit products, combination products began as life insurance with long term care riders.
For example, while the average premium on a standalone policy may run $2,200 per year for consumers in their early 60s, a long term care rider on an annuity could cost less than $1,000 per year.
Thankfully, combo products, such as annuities and life policies with long term care riders, can save the day.
Some variable universal life and term life policies may offer long term care riders, as well.
Full browser ?