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!