Lincoln Hybrid Life/LTC Resolution Provides Lengthy-Time period Care Planning Flexibility

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To assist customers meet the rising want and price of long-term care, Lincoln Monetary Group (NYSE:LNC) right now launched MoneyGuard® III, the latest technology of its hybrid life/long-term care funding answer.

MoneyGuard III, issued by The Lincoln Nationwide Life Insurance coverage Firm, Fort Wayne, IN, presents new protection and profit choices and offers better monetary flexibility to shoppers searching for methods to pay for future long-term care wants.

“Research present that just about half of customers turning 65 will want some kind of long-term care within the future1 and Lincoln MoneyGuard® III builds on a confirmed answer that may assist put together folks for the realities of long-term care earlier than they want it,” stated Mike Hamilton, VP, MoneyGuard Product Administration. “Shoppers’ wants for long-term care differ so it is crucial for our options to be versatile to satisfy a spread of conditions.”

Protection Flexibility

Constructing on the favored versatile cost choices accessible with earlier generations of MoneyGuard options, the latest product presents the chance to unfold funds out over an extended interval, probably as much as attained age 70, permitting shoppers to pick out premium funds that match their wants and monetary circumstances.

Lengthy-term Care Planning Flexibility

MoneyGuard® III options a number of new advantages, bringing the whole to 12 lined companies to offer shoppers with extra choices and better alternatives to customise their long-term care plans. The brand new advantages embody:

Transitional Care Help (TCA) Profit: long-term care sometimes begins with relations and buddies offering casual care, earlier than care wants progress to a state the place skilled companies are mandatory. To assist with this transition, the TCA profit can be utilized in the course of the first yr of declare to pay these offering casual care $100 per day for as much as 180 days, an necessary profit when contemplating that relations and buddies usually take day out of labor to look after family members as they age.
Terminal Sickness Rider offers for an acceleration of advantages if the insured turns into terminally ailing, serving to a shopper get care once they want it. The rider offers for a one-time declare for 25%-75% of the insured quantity, as much as $250,000.

Along with new options, MoneyGuard® III presents enhanced return of premium choices for shoppers. If a shopper’s state of affairs adjustments, they’re eligible for return of premium from the time of first premium cost.

“Enhancements accessible by way of Lincoln MoneyGuard® III are a direct results of Lincoln’s distinctive business information and greater than 30 years within the life/long-term care hybrid area,” stated Invoice Nash, SVP, MoneyGuard Distribution. “Many People don’t plan accordingly and considerably underestimate the price of long-term care companies. We need to assist present them with an answer to guard their monetary futures and help them throughout an emotional time.”

LincolnMoneyGuard III is a common life insurance coverage coverage with an optionally available long-term care profit rider that gives shoppers revenue tax-free advantages to reimburse their certified long-term care prices. With MoneyGuard III, coverage expenses are assured so long as shoppers pay their premiums as scheduled.

Policyholders even have entry to Lincoln Concierge Care Coordination, a collection of instruments and assets to proactively assist shoppers and their households plan for formal and casual care choices and to coordinate the kind of care wanted, to make sure all their needs are met.

LincolnMoneyGuard® III is instantly accessible by way of Lincoln’s nationwide community of distribution companions (in states the place permitted; not accessible in New York). For extra data on the product, go to the Lincoln Monetary Group web site.

About Lincoln MoneyGuard® III

LincolnMoneyGuard® III, a common life insurance coverage coverage with a long-term care advantages rider, is issued by The Lincoln Nationwide Life Insurance coverage Firm, Fort Wayne, IN, on Coverage Kind ICC19-MG890 / MG890 with the next riders: Worth Safety Endorsement, kind ICC19END-10534 / END-10534; Terminal Sickness Acceleration of Dying Profit Rider, kind ICC19TIR-891 / TIR-891 and Lengthy-Time period Care Advantages Rider, on kind ICC19LTCBR-890 / LTCBR-890.

The insurance coverage coverage and riders have limitations, exclusions and reductions. Lengthy-term care profit riders could not cowl all prices related to long-term care prices incurred by the insured in the course of the protection interval. All contract provisions, together with limitations and exclusions, ought to be rigorously reviewed by the proprietor. For prices and full protection particulars, contact your agent or producer.

All ensures and advantages of the insurance coverage coverage are topic to the claims-paying potential of the issuing insurance coverage firm. They don’t seem to be backed by the broker-dealer and/or insurance coverage company promoting the coverage or any associates of these entities apart from the issuing firm associates, and none makes any representations or ensures concerning the claims-paying potential of the issuer. Product not accessible in New York.

About Lincoln Monetary Group

Lincoln Monetary Group offers recommendation and options that assist empower folks to take cost of their monetary lives with confidence and optimism. At the moment, greater than 17 million prospects belief our retirement, insurance coverage and wealth safety experience to assist deal with their life-style, financial savings and revenue objectives, in addition to to protect in opposition to long-term care bills. Headquartered in Radnor, Pennsylvania, Lincoln Monetary Group is the advertising and marketing identify for Lincoln Nationwide Company (NYSE:LNC) and its associates, together with The Lincoln Nationwide Life Insurance coverage Firm, Fort Wayne, IN, and Lincoln Life & Annuity Firm of New York, Syracuse, NY. The corporate had $260 billion in belongings beneath administration as of June 30, 2019. Lincoln Monetary Group is a dedicated company citizen included on main sustainability indices together with the Dow Jones Sustainability Index North America and FTSE4Good. Devoted to range and inclusion, Lincoln was acknowledged by Forbes as one of many Finest Giant Employers, Finest Employers for Variety, and Finest Employers for Ladies. Lincoln additionally earned excellent 100 p.c scores on the Company Equality Index and the Incapacity Equality Index. Study extra at: www.LincolnFinancial.com. Comply with us on Fb, Twitter, LinkedIn, and Instagram. Join electronic mail alerts at http://newsroom.lfg.com.

Division of Well being and Human Providers, Lengthy-Time period Providers and Helps for Older People: Danger and Financing, February 2016

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