1 / 19

A Revolutionary Approach to Long-Term Care

A Revolutionary Approach to Long-Term Care. Underwritten by Guaranty Income Life Insurance Company Baton Rouge, LA. AC-SEM-04 (FL) 1. The AnnuiCare ® rider is a unique approach to Long-Term Care, offered exclusively by Guaranty Income Life Insurance Company.

bernie
Télécharger la présentation

A Revolutionary Approach to Long-Term Care

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. A Revolutionary Approach to Long-Term Care Underwritten by Guaranty Income Life Insurance Company Baton Rouge, LA AC-SEM-04 (FL) 1

  2. The AnnuiCare® rider is a unique approachto Long-Term Care,offered exclusively by Guaranty IncomeLife Insurance Company Home Office Baton Rouge, Louisiana. Policy Form Nos. LTC-2 (FL 2/03) and LTC-3 (FL 2/03). AC-SEM-04 (FL) 2

  3. What is AnnuiCare®? • It is a tax-deferred annuity that provides up to triple the annuity value for qualified LTC • It is a tax qualified long-term care insurance rider • It is a tax deferred annuity with a tax qualified long-term care benefit AC-SEM-04 (FL) 3

  4. Why did Guaranty Income Life create an Annuitywith long term care benefits? • Because the majority of people self-insure. • Traditional Long Term Care Insurance is expensive and may be difficult to qualify for medically. • People may be reluctant to purchase something they may never use. AC-SEM-04 (FL) 4

  5. Moving Assets Can Make Your Money Work Better! (Free Up More Assets) $100,000 LTC Benefit $150,000 “Financial Safety Net” $50,000 Premium The cost of long-term care insurance is deducted from the annuity value. AC-SEM-04 (FL) 5

  6. $100,000 LTC Benefit $50,000 Premium Moving Assets Can Make Your Money Work Better! (Free Up More Assets) $150,000 Total available for Your Use Moving $50,000 into AnnuiCare® can provide a benefit up to $150,000 for long-term care expenses. AC-SEM-04 (FL) 6

  7. $219,000 Total Benefit = + $73,000 $73,000 $146,000LTC Benefit $146,000LTC Benefit % X ON OFF ÷ 7 8 9 – 4 5 6 1 2 3 + . 0 = Kate Jones (Female 65) AnnuiCare® at Issue 73000 ÷ 730 = AC-SEM-04 (FL) 7

  8. 730 Days = 2 years AC-SEM-04 (FL) 8

  9. $219,000 Total Benefit = + $73,000 $73,000 $146,000LTC Benefit $146,000LTC Benefit % X ON OFF ÷ 7 8 9 – 4 5 6 1 2 3 + . 0 = Kate Jones (Female 65) AnnuiCare® at Issue $100 (Daily Benefit) 73000 ÷ 730 = AC-SEM-04 (FL) 9

  10. $219,000 Total Benefit = + $73,000 $73,000 $146,000LTC Benefit $146,000LTC Benefit % X ON OFF ÷ 7 8 9 – 4 5 6 1 2 3 + . 0 = Kate Jones (Female 65) AnnuiCare® at Issue $100 (Daily Benefit) 2,190 days (6 years) (Minimum Benefit Period) 219000 ÷ 100 = AC-SEM-04 (FL) 10

  11. $325,196 Total Benefit $216,797LTC Benefit $216,797LTC Benefit + = $108,399 $108,399 % X ON OFF ÷ 7 8 9 – 4 5 6 1 2 3 + . 0 = Kate Jones AnnuiCare® at Age 75 $148.49 (Daily Benefit) 2,190 days (6 years) (Minimum Benefit Period) 325196 ÷ 148.49 = *Assumed Interest Rate 5.00% AC-SEM-04 (FL) 11

  12. $396,117 Total Benefit $132,039 Cash $264,078LTC Benefit $264,078LTC Benefit = + $132,039 % X ON OFF ÷ 7 8 9 – 4 5 6 1 2 3 + . 0 = Kate Jones AnnuiCare® at Age 80 $180.88 (Daily Benefit) 2,190 days (6 years) (Minimum Benefit Period) 396117 ÷ 180.88 = *Assumed Interest Rate 5.00% AC-SEM-04 (FL) 12

  13. AnnuiCare®What Does It Pay? AnnuiCare® will pay Long-Term Care expenses up to 100% of the daily maximum benefit for: • Home Health Care • Homemaker Services • Hospice Services • Maintenance or Personal Care Services • Respite Care • Assisted Living Facilities Care • Alzheimer’s Care • Nursing Home Care … and up to 50% of daily maximum benefit for: • Adult Day Care AnnuiCare® has exclusions and limitations. For costs and complete details of the coverage call or write your insurance agent or company. AC-SEM-04 (FL) 13

  14. Being unable to perform at least two out of six activities of daily living • Bathing • Eating • Continence • Toileting • Dressing • Transferring AnnuiCare®Accessing Your Benefits To qualify for benefits, the insured must be chronically ill as certified by a licensed healthcare practitioner as: or • Requiring substantial supervision to protect the individual due to a severe cognitive impairment. AC-SEM-04 (FL) 14

  15. AnnuiCare®Suitability • Financial - Where is the money coming from? Can you afford the coverage? • Medical – What is your past medical history? What medications are you currently taking? • Market: 60 to 85 years of age with $100,000 of liquid net worth AC-SEM-04 (FL) 15

  16. AnnuiCare®Underwriting • No Medical Exams • No Medical Records Ordered • No Lab Work Ordered • No Substandard Ratings • Quick Response - Usually 72 Hours AC-SEM-04 (FL) 16

  17. AnnuiCare®Underwriting • Up to age 75—Telephone Interview by Registered Nurse • Age 75 plus —Face to Face Interview AC-SEM-04 (FL) 17

  18. AnnuiCare®at a Glance • Minimum Amount — $36,500 — Non-qualified $50,000 — Qualified • Maximum Amount — $300,000 • Maximum Issue Age — 85 • Guaranteed Interest Rate — 3% • Liquidity Feature — Interest earnings in excess of the long-term care premium deductions can be withdrawn without penalty. Any withdrawals will reduce long-term care benefits. • Death Benefit — Greater of annuity surrender value or return of annuity premium paid less any previous withdrawals and deductions. • Withdrawal Charges: AC-SEM-04 (FL) 18

  19. A Revolutionary Approach to Long-Term Care Underwritten by Guaranty Income Life Insurance Company Baton Rouge, LA AC-SEM-04 (FL) 19

More Related