WHAT ARE LINKED BENEFIT PRODUCTS?
A BASE PRODUCT SUCH AS LIFE INSURANCE OR AN ANNUITY WITH A “RIDER” THAT PROVIDES LONG TERM CARE BENEFITS IF NEEDED.
- Provides multiple benefits, paying out the first benefit as needed
- Qualified long term care costs are reimbursed
- Reimbursements intended to be income tax-free
If you could take $1.00 and make it worth more for your client wouldn’t you?
Linked Benefit Products
- Make your client’s money work harder; leveraging each dollar up to 3 to 5 times in the event of an extended care need
- Provide a Death Benefit to beneficiaries if your client doesn’t use all the money
- Keep clients in control of their assets; A money back guarantee*
- Offers a smart way to help protect existing assets from an extended care event
*Through the Return of Premium Rider on single premium and certain flexible premium universal life policies.
The Facts About Extended Care
- 70% of Americans age 65 or older will need it temporarily
- The cost of care is high and increasing
- The average duration of a claim is 4.2 years
- 75% of claims start at home
*National median annual costs:
Assisted Living Facility (ALF) = $42,000
Semi-private room in a nursing home = $77,380
Home health aid (8 hrs/day, 5 days per week) = $41,600
Adult daycare (5 days per week) = $16,900
IF YOUR CLIENT NEEDED EXTENDED CARE TODAY, WHICH ASSET WOULD THEY USE FIRST?
YOUR FINANCIAL STRATEGY IS NOT COMPLETE WITHOUT EXTENDED CARE PLANNING.
Contact BSMG Today!
BSMG offers a wide variety of linked benefit products from leading carriers designed to help address your clients individual extended care needs. Speak with one of our expert linked benefit advisers today!
