We all know the value that Long-Term Care (LTC) coverage provides to your clients. But there are times when our clients have certain impairments, making it difficult to qualify for a stand-alone LTC policy, or even an LTC rider.
If you have a client who was previously turned down for this valuable coverage, we have a solution.
One of our carriers automatically includes a chronic illness rider on their Universal Life policies for all rate classes, including highly rated. No additional underwriting and no LTC CE credits are required when selling a product with this chronic illness rider.
This rider will help your clients cover the costs of long-term care. What’s better, is that there is no charge up front for this valuable rider (an administrative fee will apply at the time the rider is used), unlike traditional LTC riders.
Take a look at this example of how CPS recently helped a producer get their client this much needed coverage:
- Female, age 57
- Applied for $500K of UL coverage with an LTC rider
- Diagnosed with osteoporosis on DEXA scan in 2006, with worsening results on a follow-up DEXA scan in 2012
- Denied for traditional LTC riders
- This carrier approved the UL coverage at Table 2, which included the chronic illness rider
- This resulted in a paid in force policy with a target premium of $9,077
To find out which carrier can make this happen for you and your clients, and learn more about the chronic illness rider, contact your CPS Underwriter today.