The Long Term Care market has evolved into an entire new environment dictated by longevity planning. For most Americans, some form of assisted living is inevitable. Long Term Care product lines offer different approaches to extended care coverage. Here's a quick look at the main categories.
- Linked Benefit Life Hybrid: The leveraging power of existing assets is in the LTC benefit pool – LTC is the key reason for purchase; legacy assets are a secondary benefit
- Linked Benefit Annuity Hybrid: Leveraging an annuity for multiplied value in a LTC benefit pool; if LTC is not needed the annuity benefit remains
- Accelerated Benefit Life: Life insurance is the key driver in this concept – Access to the death benefit as a living benefit covers care expenses
- Standalone LTC: Smaller annual premiums provide a greater benefit pool when care is needed
Syndicated financial columnist and talk show host Steve Savant interviews nationally recognized long term care author and expert Maria Sarci.