Long-Term-Care Insurance Isn’t Dead. It’s Now an Estate-Planning Tool

July 24, 2018

By Leslie Scism

Last year, after finishing with college tuition for their three children, Jessica Galligan Goldsmith and her husband, James, treated themselves to something she had long wanted: long-term-care insurance.

It hasn’t been cheap. The couple, both lawyers in their mid-50s, will shell out more than $320,000 between them over a decade. For that, they will be able to tap into benefits topping $1 million apiece by the time they are in their 80s, the age when many Americans suffer from dementia or other illnesses that require full-time care.

Plus, the policies pay out death benefits if long-term care isn’t ultimately needed, and most provide 10% to 20% of the original death benefit even if the long-term-care proceeds are fully tapped.

Such policies that combine long-term-care coverage with a potential life-insurance benefit are called “hybrids,” and they are reshaping the long-term-care niche of the U.S. insurance industry.

Full Article


Millennials May Care About Long-Term Care Benefits

July 11, 2018

By Allison Bell | June 27, 2018

Carriers may be afraid to sell it, but workers seem to like it almost as much as life insurance.

Workers in the “Millennial” generation — those born from 1979 to 2000 — may like seeing long-term care insurance (LTCI) options on the benefits menu even more than older workers do.
All workers combined say they like LTCI benefits almost as much as they say they like life disability insurance.

Workers seem to be much more interested in LTCI benefits than in benefits sometimes seen as LTCI substitutes, such as critical illness insurance and cancer insurance.

Full Article


Industry Articles

July 5, 2018
  • 5 Benefits Trends on Prudential’s Radar Now
    Financial wellness is a thing. But…how do you measure that? Read more.
  • Hannover Re Backs OneAmerica Life-Based LTC Product
    A Hannover Re executive says his company likes OneAmerica’s experience in the LTC hybrid market. Read more.
  • Some Advisors Call for Early Long-Term Care Planning
    Half of a large bank’s high-net-worth advisors start LTC talks when the client relationship starts. Read more.