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Taking the Confusion Out of Linked Benefits

 

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Q: What are Linked Benefits?
A: A Linked Benefits policy is a unique life insurance or annuity policy that allows you to protect your assets from a potential long term care (LTC) event and still leave a legacy to your loved ones without having to purchase two separate policies.

By paying an initial lump sum premium, you immediately create a death benefit for your beneficiaries and a pool of money to pay for covered long term care needs.

Q: What types of insurance products can be linked?
A: A base product such as life insurance or an annuity with a “rider” that provides long term care benefits if needed. This provides multiple benefits, paying out the first benefit, as needed. If you need long-term care, income tax-free reimbursements are available for qualified long-term care expenses. 

Q: What does a Linked Benefit provide me?
A: Linked Benefits policy provides you with:

  • A guaranteed death benefit that is generally income tax free – your beneficiaries will receive a death benefit even if you don’t use your LTC benefits or use some or all of it.  
  • Value for your money – typically, your death and LTC benefits are significantly greater than your initial premium.
  • Flexibility – no matter what happens in your life, you will have a guaranteed level of benefits.

Q: Who should consider Linked Benefits?
A: If you are between ages 55 and 75 with investable assets (money that you won’t necessarily need to fund your retirement) and you want to insure against a time that might require temporary or permanent long-term care, then you should consider a Linked Benefit, especially with the potential for tax savings.

Still have questions? Give us a call and let's discuss your options.

Life Insurance
  • Navigating Life Insurance
  • Term Life Insurance
  • Term Life Insurance with Living Benefits
  • What is Universal Life Insurance?
  • Taking the Confusion Out of Linked Benefits
  • Life Insurance Policies and Cash Value
  • How Much Life Insurance Is Enough?
  • Difference between Simplified Issue Life Insurance and Guaranteed Issue Life Insurance
  • Which Makes Sense for You: Permanent or Term Life Insurance?

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Conway
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Important disclosures about Medicare Plans: Medicare has neither endorsed nor reviewed this information. Not connected or affiliated with any United States Government or State agency. We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.

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