Concierge | LTCR Plus

Insurance vs. Self Funding Calculator

Hypothetical Example of a Life-Based “Hybrid” LTC Product

Premium of $10,000 per year for 10 years, 60 year old male,

3% compound inflation, 6 year initial pool of LTC benefits

One of the advantages Life Based Hybrid LTC insurance is that this plan will always pay a benefit. The plan builds a pool of LTC benefits if you need it, pays a death benefit or provides a money back guarantee. These plans also often provide a guaranteed minimum residual death benefit should you use all of your LTC pool. So whether you have an LTC claim, decide in the future this isn’t the right protection for you or die before you use benefits, hybrid products always provide you with a benefit.

Leverage on Long-Term Care Premiums

Total Premiums Paid
Over 10 years = $100,000

$10,000 per year x
10 Years

Day 1
More than 3.4x Total
Premiums Paid for
Long-Term Care

Day 1 Total Long-Term
Care Benefits =
$340,000

$4,382 Monthly
Long-Term Care Benefits

Age 80
More than 6x Total
Premiums Paid for
Long-Term Care

Age 80 Total Long-Term
Care Benefits =
$614,265

$7,914 Monthly
Long-Term Care Benefits

Benefits if Long-Term Care is Never Used or Exhausted*

Death Benefits
Paid to Beneficiaries
if LTC is Never used

Day 1 = $105,158
Age 80 = $105,158

Money Back
if LTC is Never Used

Day 1 = $6,359
Age 80 = $73,281

Residual Death Benefit

(Minimum life insurance proceeds paid to beneficiaries even if LTC pool is fully depleted)

* The Guaranteed Death Benefit and/or Surrender Value (“Money Back”) will be reduced by any LTC benefits used.

The Residual Death Benefit is paid even if LTC benefits are exhausted.

Hybrid Annuity / LTC Insurance

Advantages

Maximum liquidity
Always pays: LTC, death benefit, or return of premium
Guaranteed premiums and benefits
Least invasive underwriting

Disadvantages

More expensive due to annuity component

Life insurance w/ Accelerated LTC Rider

Advantages

Provides death benefit with some degree of LTC coverage

Disadvantages

Less leverage for LTC benefits
Not designed specifically for LTC
Lowest ability to customize LTC benefits

Hybrid Life / LTC Insurance

Advantages

Maximum liquidity
Always pays: LTC, death benefit, or return of premium
Guaranteed premiums and benefits

Disadvantages

More expensive due to life insurance component

Stand Alone LTC Insurance

Advantages

Maximum LTC leverage
Guaranteed benefits
Greatest ability to customize
Built specifically for LTC

Disadvantages

No residual value if benefits are unused
Premium could increase on a class basis with prior state approval
More difficult to health qualify

Need Assistance?

We’re here to help . . .

Please contact the LTCRplus benefits concierge for assistance at (844) 582-7587

No group code?

No problem . . .

Please contact the LTCRplus benefits concierge for enrollment assistance at (844) 582-7587

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Hypothetical Example of a Life-Based “Hybrid” LTC Product

Leverage on Long-Term Care Premiums

Benefits if Long-Term Care is Never Used or Exhausted*

Hybrid Annuity / LTC Insurance

Advantages

Disadvantages

Life insurance w/ Accelerated LTC Rider

Advantages

Disadvantages

Hybrid Life / LTC Insurance

Advantages

Disadvantages

Stand Alone LTC Insurance

Advantages

Disadvantages

Need Assistance?

We’re here to help . . .

No group code?

No problem . . .