December 2, 2013 | BY AL STOCKWELL
With the advent of LTC/Chronic Illness riders becoming more and more popular, and the costs of stand-alone LTC coverage increasing each year, it’s often beneficial to offer your life insurance clients multiple benefits in one sale – clients can lock-in their future benefit – with guaranteed premium and guaranteed benefits!
By adding a LTC/Chronic Illness rider onto a potential life insurance policy, a hesitant prospect becomes a much easier sell and objections tend to fade as clients realize the benefits of having that extra, but important safety net.
Most people understand how an unexpected chronic illnesses and/or LTC costs can devastate carefully
laid retirement plans, and create a heavy financial and emotional burden on family members. Being able
to expand the scope of traditional life insurance to include pre-death benefits can provide the financial
security and peace of mind many clients are seeking – and provide the needed incentive to close the life
Each company has different options available – so don’t assume a case is too difficult to write or the
desired option doesn’t exist. Oftentimes with the help of our on-staff underwriters we’re able to get
even the most difficult cases placed with better than predicted benefits and premiums.
Don’t hesitate to call regarding a particular case (or post a comment/question). I would love to hear back
on this week’s subject, or hear some of your successes with LTC/Chronic Illness add-on riders.