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Long Term Care Blog

Lincoln Moneyguard II Combines Long Term Care Insurance and Life Insurance

Posted on Dec 06 by Jack Lenenberg

Lincoln Moneyguard

Review of Lincoln Moneyguard II long term care insurance policy

Life insurance is a well accepted financial product to provide family protection. Almost everyone will own life insurance at some point in their life.

Long term care insurance, by contrast, is owned by only 9% of Americans.

Why is this?

Everyone knows the importance of having long term care insurance to help pay for your costs of care received either in your home or in a facility.

The cost of long term care care is expensive, currently averaging over $87,000 annually nationwide.

Without long term care insurance, you can easily spend through a lifetime of savings and end up on Medicaid. Buying long term care insurance enables you to not only remain independent; but also allows you to not burden your family with caregiving issues.

So, why doesn't everyone buy traditional long term care insurance?

Typically, I receive 2 basic concerns.

What if I pay premiums and never need long term care?
What if my premiums increase and I can't afford my coverage when I'm older?

Several large life insurance companies such as Lincoln National Life, OneAmerica (State Life) and Pacific Life have recognized and addressed these concerns with insurance policies that combine guaranteed long term care benefits with a guaranteed life insurance benefit for a guaranteed premium .

One of the more popular hybrid long term care insurance policies is Lincoln Moneyguard II.

September 16, 2019 Update: Lincoln Moneyguard II has been replaced by Lincoln Moneyguard III.

For the current 2020 review of the Lincoln Moneyguard III policy, please follow the link immediately below.

To see my answers to hundreds of consumer questions over the years, continue to the end of this review.

2020 Lincoln Moneyguard III Policy Review

April 2023 Update: Lincoln Moneyguard III has been replaced by Lincoln Moneyguard Fixed Advantage

Lincoln Moneyguard Fixed Advantage 2023 Review

Lincoln MoneyGuard II - How Does It Work?

Linked benefit LTC policies such as Lincoln Moneyguard II provide tax-free long term care insurance if you need it; income tax-free life insurance benefits for your heirs if you don't need care; and a money back guarantee if you ever change your mind. These benefits are guaranteed and fixed for the life of the contract. The contract is usually funded with a one-time payment. There are no ongoing premiums.

Lincoln Moneyguard Reserve Plus

Take for example a 60 year old married female that re-positions an asset of $100,000 into Lincoln Moneyguard II.

A deposit of $100,000 will immediately guarantee her almost $314,885 of tax-free long term care insurance benefits---$4057/month for 6 years---- if long term care is needed. The policy will also include automatic 3% compound inflation protection. At age 80 she would have $7327 month and $568,717 in her pool of money.

If long term care is not needed, a tax-free life insurance benefit of $115,000 is paid out to her loved ones.

If she changes her mind, the policy includes an 80% Return of Premium benefit.

Lincoln Moneyguard sample illustration married 60 year old female

(Lincoln Moneyguard II also has a 100% Return of Premium option with a 5 year vesting schedule)

Lincoln Moneyguard II - Is a Long Term Care Policy with Life Insurance Benefits Right For Me?

Linked benefit LTC policies such as Lincoln Moneyguard can make sense for many individuals.

The policies can be structured to provide fixed benefits; or designed to address inflation protection.

If you seek to protect your retirement assets from long term care costs, and have the ability to re-position an asset not needed for retirement income into a policy these hybrid policies make a lot of sense.

Lincoln Moneyguard II - How do I Qualify?

Please contact us at 1-800-891-5824 to review your health history to see if you can qualify for a hybrid long term care policy.

We find it is sometimes easier to qualify healthwise for linked-benefit policies than qualifying for a traditional long-term care insurance policy. The underwriting process with Lincoln Moneyguard II most often only consists of a telephone interview. Lincoln Moneyguard policies are usually issued 2 days after your telephone interview is completed.

Even if your prior long term care insurance application has been turned down, you might still qualify for a linked benefit policy.

We can help you fully explore your long term care planning options. We are an independent agency and have served consumers nationwide since 1998. We will help you sort through your options and answer your questions.

To receive and compare linked-benefit illustrations from the leading companies such as Lincoln Moneyguard II, State Life Asset Care, Pacific Life Premier Care Advantage, Securian SecureCare, please contact us at 1-800-891-5824 or complete our quote request form. We thank you for reading our LTC insurance blog.

Lincoln Moneyguard II introduced as next generation hybrid life-long term care insurance policy

Update: On March 14, 2014 Lincoln Moneyguard II (2) was introduced in many states. With the launch of this current hybrid life-long term care policy series, Lincoln has made a few changes. Lincoln Moneyguard II does not offer immediate 100% Return of Premium. Policyholders may now elect either a 100% Return of Premium option with a 5 year vesting schedule or an 80% Return of Premium option. With Moneyguard II, clients may select a variety of funding options with either a single premium option or payments funded over a flexible period of up to 10 years. Care coordination services are also now included within the Moneyguard II policy to allow policyholders access to local specialists that may assist in helping the policyholder chooses between a variety of informal and formal care options.

March 2017 Update: Lincoln announces rate increases on new business applications submitted after April 13, 2017

Lincoln has increased by 10% to 20% the premium cost of Moneyguard for new applications as of April 14, 2017.

Illustrations prior to April 14, 2017 are now invalid.

See also from my blog: Is this the perfect long term care policy?

Signature Ltc

Jack Lenenberg

Testimonials

Comments

Tom Wilkinson said:

Jack, which linked benefit policy offers more benefits, the Lincoln Moneyguard policy or the Pacific Life Policy?

Jack Lenenberg, LTC Partner said:

Hi Tom, Good question. The Lincoln Moneyguard policy and the Pacific Premier Care policy each do a good job. It really depends upon the age of the applicant. I am finding that for applicants in their middle 60's the Pacific Life product may offer additional leverage especially with 7 years of benefits. The Pacific Life policy even offers 8 years of benefits as an option. Your best bet would be to give us a call at 1-800-891-5824 and let us run an apples-to-apples comparison for you. Thanks Tom.

Susan Silvey said:

Are there any other companies that offer these policies or are Lincoln and Pacific the only two?

Jack Lenenberg, LTC Partner said:

Hi Susan, Genworth also offers linked benefit policies. Many times when we analyze the benefits of Genworth TLC, Lincoln Moneyguard, and Pacific Life Premier Care, Genworth is offering better guaranteed beenfits than both Pacific Life and Lincoln Moneyguard. The best advice is to give us a call at 800-891-5824. Most brokers will just show you 1 company. We can send you illustrations of all 3 companies so you can clearly see which company is best for you. Thanks Susan.

Rose Brown said:

Wow, it seems like the maximum monthly benefit jumps quite a bit when you kick it up to 100k. I saw that the maxium benefit for a 50k investment is only 2014, hardly enough to cover LTC these days.

Jack Lenenberg said:

Well, Rose, it is linear. A $100,000 premium deposit will provide 2x the monthly benefit as a $50,000 deposit.
The best leverage may also be to possibly consider either the Pacific Life 8 year benefit period. Or to account for inflation protection within either the Pacific Life or the Genworth TLC policy which each do a better job with inflation protection than Lincoln.

Miles Gallagher said:

Hi Jack, First of all I wish to complement you on having a fantastic and informative site. I have been doing research on LTC and your site is the best on the internet. Keep up the good work.
My financial planner is recommending Moneyguard to me for long term care insurance. I am 71. He wants me to deposit $75,000. What are your thoughts?

Jack Lenenberg, J.D. said:

Hi Miles, Thank you for the positive feedback. I am pleased my site is helping you with your research. Regarding your question, I think a deposit of $75,000 can definitely help provide good core long term care benefits for you and allow you to "take the sting out" of paying out-of-pocket for the entire cost of needing care. Will repositioning $75,000 cover your full costs of your care? Probably not. However, if you have additional assets and income it will definitely provide you with a safety net. Is your financial planner only showing you MoneyGuard? We are seeing a lot of changes with LTC pricing recently. Genworth just completely revised rates on its linked benefit policies. Fortunately, Lincoln and Pacific Life are holding steady. Pacific Life Premier Care is now available in a majority of States. I am starting to see that Lincoln MoneyGuard Reserve Plus and Pacific Life PremierCare offer relatively similar pricing through age 64. Pacific Life does offer discounts to married applicants that can help increase benefits, though. More importantly, what I am now noticing is that Pacific Life is absolutely priced better for individuals that are in their later 60's and 70's, especially if married. I see you are age 71. I will assume you are a non-smoker. For your scenario, your $75,000 deposit would translate with Money Guard into a LTC benefit of $2579 month for a 7 year benefit period, and a pool of money of $216,641. If you do not need care, your Money Guard death benefit is $92,846. While good benefits, due to your age of 71 there exists a very good possiblity we can do even better. I will need to know your state of residence to see if Pacific Life is available for you. If it is available and you are married, your $75,000 premium deposit with Pacific Life will provide you long term care benefits of $3336/month for a 7 year benefit period, and a pool of money of $280,248. Big difference. 30% more benefit for the same premium with Pacific Life for a 71 year old today. Pacific Life will also look at least 20% better if you are not married. You may even be able to include an inflation rider in the Pacific Life policy to further enhance your coverage. We find that 99% of the time stockbrokers and bankers are not incorporating inflation protection within the plan, primarily from a lack of true long term care planning and experience. Often, you may very well benefit from including it...especially if you feel you may have longevity in your genes. Please feel free to contact me direct in the office at 800-891-5824 to discuss your specifics. Happy to assist you to formulate the best policy possible for your needs, if I can.

Chuck Bird said:

I am interested in LTC insurance coverage for my wife and I. I have been given some info on Lincoln Moneyguard Reserve, and Genworth and John Hancock annual premium policies. It does not appear that I can qualify for coverage as I am a cancer patient in remission for bladder cancer (stage 2) but am receiving all clear test reports. I am 63 years old, soon 64. My wife is also 63, had breast cancer in 1994, radiation treatments and has been negative in test since then. What can you recommend among the companies? We will not qualify for Medicade so we need something to cover the majority of cost.

Jack Lenenberg said:

Hi Chuck,

Transamerica will most likely approve your application today at Standard health rates. Most companies such as Genworth, John Hancock, et al require 24 months stability for stage 2 cancers from the date of your last treatment. Transamerica, by contrast, does not believe cancer history poses a significant LTC risk. You may reach me at 800-891-5824 to discuss. Thanks Chuck!

Sue said:

Lincoln MoneyGuard looks very appealing. After looking it up, it seems one can't get their money back if the policy was issued after age 65. Am I understanding that correctly? Thanks, and great information on your site.

Jack Lenenberg said:

Thanks Sue, with Lincoln Moneyguard and with Pacific Life Premier Care you can receive 100% of your premium back at any time. No questions asked.

H. Hsu said:

Hi, Jack, thanks for the blog..

You said that "These benefits are guaranteed and fixed for the life of the contract." What is the length of the "life of the contract" for the example of $100,000 deposit? For the rest of her life? And, what is the "Elimination Period" in that example?

Jack Lenenberg said:

Yes, Linked Benefit policies such as offered through Lincoln Moneyguard and Pacific Life Premier Care are fixed and guaranteed for the policyholder's entire life. The policies will stay in force until death. Lincoln Moneyguard Reserve Plus has no elimination period. Pacific Life has no waiting period for home care. It does have a 90 day waiting period for facility care. Each company will allow you to elect long term care benefit periods of your choice. Lincoln offers long term care benefit periods of 5-7 years, Pacific Life offers long term care benefit periods of 4-8 years. Unlimited long term care benefit periods are available through State Life. State Life has various waiting periods (7 to 90 days) depending upon contract. You may reach me at (800) 891-5824 should you wish personalized illustrations and quotes for all of the companies to review. Thanks!

Robert Campbell said:

I have been looking at the Money Guard product, but your comments relative to the Pacific Life policy are intriging. I live in PA, am 68 years old and married. Thoughts?

Jack Lenenberg said:

Hi Robert,

Yes, Pacific Life Premier Care will absolutely provide you greater long term care benefits based upon your age and your marital status. I will send to you apples-to-apples Pennsylvania illustrations shortly, but to give you an idea if you deposit $100,000 Lincoln will provide you a monthly long term care benefit of $4866 for 6 years---a total pool of $350,319. Pacific life will provide you with $4982/month for 8 years for a total pool of $478,460. Or alternatively, with Pacific Life should you wish to retain the 6 year benefit period design, Pacific Life will provide you with $5329 per month. In either design, Pacific Life will offer you greater monthly benefit and a greater LTC Pool of Money. One other important note is inflation protection. Should the automatic inflation protection option be elected, Pacific Life's benefits for applicants in their later 60's will be significantly greater than the benefits the Lincoln Moneyguard policy provides. (Lincoln's designs are more competitive for applicants in their 50's). Thanks Robert, your illustrations will be forwarded to you shortly. I appreciate your interest.

Robert said:

Jack, very helpful information. Do any of the linked-benefit policies offer a shared benefit for married couples? Thanks.

Jack Lenenberg said:

Yes, Robert. One company, State Life, offers not only joint linked benefit policies for couples but also Unlimited Lifetime long term care benefits. Very unique linked benefit policies with terrific leverage.

David Givens said:

Great blog. I am 52 and have been researching the issue, not liking what I see until now. Why is the Lincoln product advantageous for people my age?

Jack Lenenberg said:

Hi David, The Lincoln Moneyguard policy as well as other hybrid policies (Genworth TLC, Pacific Life Premier Care) are advantageous in one primary sense: The policies are guaranteed, and the benefits/premiums are fixed. Hybrid policies avoid rate increase risk that is inherent with guaranteed renewable traditional LTC Policies over 20,30,or maybe even 40 years. For this reason you may be attracted to the guarantees hybrid long term care insurance polcies provide. For myself, the key is that the premium you consider depositing into a hybrid policy must be a liquid asset you can reasonably foresee will not be needed to produce retirement income for you. Otherwise, a traditional LTC policy might be more suitable. Thanks David.

Darlene said:

I am a 59 1/2 year old widowed female. My goal is to acquire LTC
prior to reaching age 60. I live in Tennessee. I have a strong family history of Alzheimer's. My Mom was in care for 9 years. My
Aunt for 10. A lump sum payment appeals to me but which one???

Jack Lenenberg said:

Hi Darlene,
With a family history of Alzheimer's I can understand if you wished to err on the side of caution and obtain a somewhat longer long term care insurance benefit period. Lincoln Moneyguard will offer benefit periods of 5, 6 or 7 years. Pacific Life will offer 8 year benefit period. State Life will offer Unlimited benefit periods. Thus, possibly State Life or Pacific Life might meet your needs from a benefit period standpoint a little more than Lincoln Moneyguard will. I can provide you with illustrations for all of the companies so you can see how the different options look for you. You may reach me in my office direct toll free at (800) 891-5824. Thanks Darlene.

Kathy said:

My husband is 66 and I will be turning 65 in early May. We live in North Carolina and are in good health. Just this week we attended a session where they talked about MoneyGuard Reserve Plus. Would this be a good plan for us? What about the other companies that offer similar products? Thanks for your help.

Jack Lenenberg said:

HI Kathy,

I like single premium linked benefit policies if you have assets that can be repositioned that are definitely not needed for retirement income. (of course I like traditional "pay as you go" LTC policies too). There are a handful of companies that offer these linked benefit policies: Lincoln, Pacific Life, State Life. Based upon your ages (middle 60's), Pacific Life will definitely be better priced than Lincoln for at least ONE of your contracts. Ultimately, the design that you are interested in will determine the best company to apply to (i.e, including or not including inflation protection; single pay approach or limited pay approach; length of benefit period desired). I can send you illustrations for all of the companies that offer these policies this week so you can see which company is the best value for you. I can be reached in the office at (800) 891-5824 M-F. Thanks Kathy!

David said:

Jack, have you ever seen payouts on these hybrid products that were considered taxable (either life proceeds or long term care)?

Enger Chiu said:

Looking for long term care plus life insurance policy for my husband, he is 67 years old, please let me ow which one is the best to suit him ? I am looking for a policy that can pay cash direct when LTC need, and we can freely use the money to looking for right person to take care of him when in need.

Jack Lenenberg said:

Hi David,

The payouts for life insurance and long term care insurance are tax-free.

Life insurance is generally received by the beneficiary income tax-free under Section 101(a)(1) of the Internal Revenue Code (IRC) and the long-term care benefits paid are not taxed as income under IRC Section 104(a)(3). The owner will pay no current income taxes on interest earnings credited to the policy's cash value.

Thank you for your question, David.

Jack Lenenberg said:

Hi Enger,

Thank you for your inquiry. The linked benefit policy offering the most benefits per premium dollar for your husband will depend upon a few factors, most notably your State of residence and your decision whether to include or not to include automatic inflation protection. Pacific Life Premier Care is priced very well for married male applicants age 67, however Pacific Life Premier Care is not available for sale in every State. You may reach me in the office at (800) 891-5824 so that we may review the various particulars and I can forward you illustrtions for all of the available policies in your State so you can see which policy is most suitable for you. Please keep in mind, Enger, that most long term care insurance contracts are reimbursement contracts not "cash" contracts so if you are seeking a "cash" contract your only option will be MedAmerica Simplicity---a traditional long term care insurance policy not a linked benefit long term care policy. I find very few people actually need or desire a pure "cash" contract, at least for the price of a "cash" policy, however we can discuss the variables. Thanks Enger.

Ken said:

Jack
I am looking into a LTC policy for myself and my wife. both 61. both in good health. Want to put $75k each into a policy. Can you answer these 3 questions. 1. Which one would you suggest. 2. Which one is the highest rated and most stable company. 3. As we are very conservative investors, what are the guarantees of the companies being around when I am ready for a pay out?

Sharon said:

Jack,
Your site one of easiest to understand re: LTC. Very confusing subject. I am 69 year old widow, had lumpectomy for breast cancer in 2006 and have been fine since. I live in NJ. Is Pacific Life available in NJ? and, if so, would it be the better choice to invest $93,000? Thanks.

Jack Lenenberg said:

Hi Ken,

Thank you for your inquiry. Lincoln Moneyguard just had a 5% price increase a few weeks ago on February 11th. Today, the policy that will offer 61 year old married males the greatest benefits per premium dollar right now is Pacific Life Premier Care. It is not even close if 5% compound inflation is elected. It is priced much better for men than Lincoln Moneyguard is priced currently, with automatic inflation protection included. Even for level benefits (no inflation increases) for male applicants Pacific Life Premier Care is currently priced a little better than Moneyguard, but the difference is very significant with inflation protection. For women, it is more of a coin flip--could be either Pacific Life or Lincoln. Of the 4 companies that make a market in linked benefit policies (Lincoln Financial Group, Pacific Life, Genworth and State Life) Pacific Life, Lincoln Financial and State Life are each rated A+ by AM Best. Genworth is A Rated. Pacific Life and Lincoln are each 100 Billion + in assets, so either company is secure for the long term. State Life is smaller. 5 Billion in Assets. Genworth is 35 Billion in assets. I think all of the companies will be around when you need them, but certainly Lincoln and Pacific Life are very big companies. Weiss Safety ratings are A- for Pacific Life; B for State Life; B- for Lincoln; C+ for Genworth. A lot of investors are critical and do seek out the Weiss safety ratings more than the ratings by AM Best. Thus, Pacific Life is be the highest rated of the 4 companies today according to Weiss. Thanks Ken.

Jack Lenenberg, J.D. said:

Hi Sharon,

Thank you for your inquiry, as well as for your complements of my website. It pleases me greatly to help everyone better understand these policies and to help simplify the issues for all. Sharon, I think a linked benefit policy would make sense for you. Pacific Life Premier Care would immediately provide you with long term care benefits of $4710 month for a benefit period of 6 years…$339,135 of long term care benefits. Or $4465 month for a benefit period of 7 years…$375,081 of long term care benefits. If you do not need care your heirs will receive the $93,000 tax-free in the form of a death benefits. With interest rates being so low today, investing the $93,000 to achieve anything significant in 15 years when you are in your 80's and most likely in need of receiving care might be challenging, would it not?

It definitely will be impossible to turn $93,000 into $375,000, that is for sure. Thus, if the $93,000 is not needed for your current income needs and you are concerned about the high costs associated with needing long term care, I think you will most definitely benefit from re-positioning this asset into a policy. Please feel free to contact me at (800) 891-5824 with any questions. I would love to help you to understand your options, and assist you in designing your plan correctly for your needs. Thanks Sharon.

Nancy said:

I've been looking at the Pacific Life policy for myself and hubbie, both aged 60. I notice that they refer to policy charges (cost of insurance and coverage charges) which are charged against your policy in addition to the one-time premium. What can a person expect these continuing charges to add up to?

Jack Lenenberg said:

Hi Nancy,

Thank you for your inquiry. With linked benefit policies that are based upon a universal life insurance chassis, the insurance company credits your cash value with interest on an annual basis and subsequently deducts the mortality and morbidity charges, administrative fees and expenses out of your policy after the interest is credited to your policy. Your only premium outlay is the one-time single premium up front. There are no "charges" in addition to your one-time premium. You do not have to write another check after that point. Simply put, after you write your one time check the insurance company issues credits and debits on an annual basis. The amount of the internal charges will depend upon the amount of insurance you are purchasing. With Premier Care the annual credits and debits will not affect your long term care benefits or your life insurance proceeds declared upfront. Everything is already factored in. If you wish to know what the specific charges might amount to please feel free to give me a call in the office at (800) 891-5824 and we can examine the illustrations together. Thanks Nancy.

Gary Kratzenberg said:

Can I assume that these types of policies would not be eligible for state partnership protection?

Jack Lenenberg, J.D. said:

Hi Gary. Thank you for your question.

Yes, your assumption is correct. Hybrid LTC policies do not provide Asset Disregard benefits under current State LTC Partnership programs.

Mike said:

Is there a minimum that the companies that fund with a one-time payment will accept?

Jack Lenenberg said:

Hi Mike,
Lincoln Moneyguard's minimum is $50,000. Pacific Life Premier Care has a $60,000 minimum.

Connie said:

For 1035 exchange purposes, is the Lincoln Financial Moneyguard considered a long term care policy or a life insurance policy?

Karen said:

My finacial planner suggested the I put 100K in the Moneyguard plan. I'm 57 and currently in good health, but my mother and both grandmothers required nursing care/assisted living before they passed. It seems like a good idea, but I want to get an independent opinion before I commit that much money for end of life care.

Jack Lenenberg said:

Connie, Lincoln Moneyguard is considered a life insurance policy for 1035 exchange purposes. Either way, surrendering the policy should not create a taxable event as the cash surrender value of Lincoln Moneyguard should be equal to your basis if your Moneyguard policy is surrendered within the first 10 years of your purchase.

Jack Lenenberg said:

Hi Karen,

Thank you for your inquiry. I would be happy to speak with you objectively about Lincoln Moneyguard, including the proper design of the policy; and whether or not Lincoln Moneyguard is warranted for your specific needs and objectives.

Please call me when convenient at (800) 891-5824 to discuss.
Thanks Karen.

Mark said:

I have preexisting conditions of Crohn's disease, controlled with meds, diabetes (controlled with medication), hypertension, depression both controlled with meds, high cholesterol controlled, A few years ago I tried to get LTC but was denied coverage. Will any of the products you have mentioned in the blog cover me given these circumstances I described? Thanks
Mark

Jack Lenenberg said:

Hi Mark,

You might be insurable. Let’s find out. 2 days ago I received an approval for a Type 2 diabetic with that was previously declined on 2 separate applications submitted through his local agent.

Please call me at (800) 891-5824. Let's find out if I can work wonders for yourself, as well.

Matthew Broussard said:

Hello Jack. My financial advisor has suggested that my wife and I purchase an LTC policy from Lincoln, (Money Guard Reserve Plus). I found your very enlightening web site while researching the subject and was pleased to see that there were a variety of options out there. It's all a bit overwhelming to us at this point and felt that you might give us some good advice. My wife is 62 and I will be 64 this month, both in good health. We live in Louisiana and don't know which other policies might be available to us. Are there any other long term care policies that may have a distinct advantage over the Lincoln offering?

Thanks,
Matt

Jack Lenenberg said:

Hi Matt,

I think Lincoln Moneyguard should look reasonably well for your wife.
It is priced pretty good for 62 year old females. For yourself, Pacific Life Premier Care will be priced very well. Pacific Life's policy is priced great for male applicants, especially middle 60's and above. Pacific Life's policy also looks very good with automatic inflation protection. Please feel free to call me at (800) 891-5824. Be happy to forward illustrations to you so you can see the differences.

Barbara said:

I have a 10 year old variable annuity with MetLife. I put in $100,000 and it is now worth $187,000. I would like to get out of this annuity and came across this hybrid policy. Can I do a 1035 exchange? If not what kind of LTC product can I exchange it for. Thanks, Barbara.

Jack Lenenberg said:

Hi Barbara, you can do a 1035 tax free exchange into a linked benefit annuity with long term care Continuation of Benefits rider. I will send you a few illustrations. You can also do a 1035 tax free exchange to pay for a traditional long term care insurance policy. Life insurance contracts such as Lincoln Moneyguard and Pacific Life Premier Care will not accept a 1035 exchange from an annuity. Only life insurance contracts may be exchanged into life insurance contracts. One other planning technique would be to exchange the annuity into a SPIA (single premium immediate annuity) providing lifetime income or even a 10 year payout. You could use the 10 year payout to fund a policy like Lincoln Moneyguard over 10 years. With this approach you spread out the taxable event.

Nancy said:

Is Pacific Life Premier Care available in CA?

Jack Lenenberg said:

Hi Nancy,

Pacific Life Premier Care is not as of yet available in California. Currently, Premier Care is priced better than Lincoln Moneyguard for male applicants; but Lincoln Moneyguard is priced well for female applicants. Especially younger females ages 61 and under. Thus Nancy, for yourself Lincoln Moneyguard might be your best option. Just depends upon your age and your plan design. You can call me at (800) 891-5824 and I will run customized illustrations for you. Thanks Nancy.

Jean said:

72 year old woman with family life expectancy of 98-100. Can a policy be purchased within IRA, deferring tax until LTC withdrawals?

Jack Lenenberg said:

Hi Jean, I have one linked benefit LTC annuity policy offered by State Life that does accept IRA money.

Jane said:

Hi Jack, our financial advisor has recommended a $50,000 Lincoln Money Guard policy for my husband and me. I am 59 (60 July) and he is 58. In your opinion, which is a better way to go, $50,000 Lincoln Moneyguard or $60,000 Pacific Life Premier Care. nSincere thanks! Jane

Jane said:

Forgot to mention, we live in New Jeresy and plan to retire to Florida soon.

Jack Lenenberg said:

Jane, Pacific Life will definitely be better for your husband; Lincoln will definitely be better for you. You should apply to different companies. There are no marital discounts that will be adversely affected by doing this. Lincoln does not offer any discounts. Pacific Life will offer your husband a marital discount regardless of whether you apply to Pacific Life, or not. By the way if you can move up your deposits into the $75,000 range the automatic inflation protection options become much more advantageous for you and the policy benefits look immensely better. Please feel free to call me to discuss. Thanks.

Nancy said:

Jack,
as I know Pacific Life has Indexed Universal Life & Universal Life Insurance Products in CA, which include pretty good LTC rider. Can you run demo for me?
Thanks, Nancy

Jack Lenenberg said:

Yes, Nancy. Please call me at (800) 891-5824 to review your plan design for your illustration.

lara said:

Which company has the LTHC sweet spot for a 73 year old widowed lady with reasonably good health? Say with $100,000 assets available for LTHC planning.
I am concerned that you said Hybrid LTC policies do not provide Asset Disregard benefits under current State LTC Partnership programs, yet they do seem to have other positive attributes. Should someone at age 73 be worried about inflation protection?

Jack Lenenberg said:

Hi Lara, Probably State Life. A 73 year old female could purchase Unlimited LTC benefits of $2500 month; or maybe even a benefit of somewhere between $3500-$4000 month for an 8 year benefit period; as well as receive the $100,000 back if long term care is not needed. Automatic inflation protection is pricey for 73 year olds. One can account for inflation by simply buying more benefit if desired. State Partnership asset disregard programs may have a benefit for individuals with modest estates they wish to protect. Hybrid policies tend to attract individuals with higher liquid assets, thus State LTC Partnership asset disregard benefits should not really be an important issue. Most hybrid policies will pay out long term care benefits for 6 years or greater thereby providing enough time to do Medicaid planning and avoid the 5 year look back period. I find most people want to do long term care planning to avoid relying upon Medicaid, thus State Partnership asset disregard benefits usually are not the incentive anyway. The decision as to funding a traditional policy vs. a hybrid policy should be based upon other factors, i.e. liquidity, income needs, source of funds, etc.

Shirley said:

Excellent, informative, professional website,
I am 71(soon to be 72 in August 2013). Applied to Lincoln Money Guard $100.000 upon advice of my financial planner. They declined policy.
This was telephone interview lasting 1hr 20 minutes. The interview was excessive in my opinion down to questions on aspirin & vitamin uses. Main point was the misconception & incorrect use of terms- emergency room care- NOT FACT- this is an after hours care facility provided by my primary care physician location.
Used during working hours weekly, after office hours during the week ( plus limited hours on Saturdays & Sundays) OR if primary care physicians were unable see you they would refer to one site care physician.
Bronchitis treatment 4 times in past 2-3 years.
2nd issues pain management for spinal stenosis ( incorrect) assumption----- I had spinal fusion September 2011, with hardware. The recovery has been intense however almost 100%. I have been treated by pain management physician since my surgery. They are able to prescribe meds, physical therapy etc. Basically they have been my after care physicians. The neurosurgeon only preformed surgery & 6-8 weeks of after care.
Based on occasional Perocet & Gabapentin uses I am fully functional
The delemina is my desire for LTC insurance.
My family has history of longevity & I have given all my focus during my life thus far to children, husband & our
construction firm (founded in 1978). We are retiring this year. My husband has now has LTC through Lincoln Money Guard program- he was accepted when I was declined.
I am extremely impressed with your knowledge of LTC therefore asking your opinion & advice--what choices do I have if any?
Many Thanks for your response. Shirley
the day care was needed.

Shirley said:

PS:
I reside in CA, with a 2nd home in Tucson,AZ
Thanks again.
Shirley

Jack Lenenberg said:

Hi Shirley, It appears Lincoln declined your application (most likely) as a result of pain management requiring occasional use of Percocet. The use of narcotics such as Percocet, Hydrocodone, Oxycontin to control pain will most likely if not always be a decline not only by Lincoln Moneyguard, but also with many long term care underwriters. I need to learn more about the dosage and frequency of the use of Percocet. Let's speak briefly to determine if any avenues might exist for you.

Terry said:

My financial advisor recommended a presentation by Lincoln and it looks good to me. However, your blog looks like Genworth or Pacific Life might have greater benefits for the price. I'll be 66 later this month, and the recommendation was for $100,000. I've had LTC Insurance through CalPers, but they are now increasing costs by 85%, so at this age I'm now looking for something more reliable. What's best?

Jack Lenenberg said:

Hi Terry, I would be happy to help you explore your options. I will be in touch shortly; or you may reach me at (800) 891-5824. I can not guess for certain, but I imagine you might have Unlimited benefits and 5% compound inflation protection on the CalPERS policy. Depending upon how long you have had your CalPERS contract, it might be worthwhile for you to also consider just keeping or modifying your existing policy, rather than replacing your coverage with a new policy. Either way we definitely should speak before you do anything.

Mike said:

Jack, I heard about Lincoln Moneyguard Reserve through a financial planner, and found your site doing follow-up research. I am 54, my wife is 51, and we are both in good health. Between the two of us, we have three State Farm whole life policies with a combined cash value of $77k. We are interested in joint coverage with LTC options, and want to convert our combined cash value to help fund the new policy. What are our options?

Kathleen Heide said:

Dear Jack:

I have been looking at your website. I am a woman under age 60 in excellent health. In reading your comments, it seems like the Lincoln Moneyguard might be a good choice for me. Is a 50K policy available from Lincoln Moneyguard with a 5% compound interest? Thank you.

Best,
K

Jack Lenenberg said:

Yes, Lincoln Moneyguard will be a very good choice for you if you solely wish to have a hybrid policy. Genworth TLC might be better than Lincoln Moneyguard for you as the Genworth TLC hybrid policy has reduced pricing in Florida still..

(By your email address, I assume you are in Florida)

Mass Mutual has excellent rates for Florida residents if you are also open to traditional LTC policies. I will forward illustrations to you so you will be able to compare benefits.

RUBEN said:

Jack, I am 76 years of age,in good health. I am a widower. There is no history in my family of dementia or any other neurological or chronic illnesses other than diabetes (which I am not). I take medication for hypertension and have kept my pressure consistently at a favorable level. I presently have $100,000 (discretionary funds), & own my home. I am presently exploring a LTC policy. Which company would provide me with the most benefits. I appreciate your work. Thank you!

Jack Lenenberg said:

Hi Ruben, I would need to know your state of residence, however at age 76 either State Life or Forethought would probably be your best options.

Dee Askew said:

You have an excellent Blog, very informative. But I could not find anything from my State.
I live in Washington State, and am 65 widow and with no health problems. My financial planner is suggesting I look at the Lincoln Money guard for 100k before I turn 66. From your blog I see there might be other options, but was unable to find them on my State insurance website including Lincoln( what a confusing website. What is available in my state and does it make sense to do this before I turn 66 or does it matter when.

Jack Lenenberg said:

Dee, Lincoln Moneyguard would be a decent hybrid policy to consider, as would Genworth Total Living Coverage. You could also consider a good long term care insurance policy. I think the New York Life Select Premier LTC policy would be an excellent long term care insurance option for you to consider in Washington State. Let me know if I can assist you. Thanks Dee.

Sharon said:

In Wisconsin what is my best option for LTC policy? Also what is your opion on Lincoln Moneyguard Reserve Plus?

Jack Lenenberg said:

Hi Sharon, as always your best "priced" policy will depend upon your age, health, and marital status. In Wisconsin, if you are in good health you may purchase well priced policies from either Mass Mutual or NY Life, 2 A++ rated mutual companies with zero history of rate increases on in-force policyholders. Genworth also has good premiums but Genworth does not possess the financial ratings of either Mass Mutual of NY Life. These 3 companies might be a good starting point if you are healthy. Lincoln Moneyguard is a good hybrid policy if you are attracted to hybrids. Moneyguard is priced well for female applicants ages 62 and younger. Often, male applicants may receive better benefits currently with other underwriters. It pays to shop around. Call me at 800-891-5824 if I can be your personal shopper.

Allison said:

I'm a 48 year old single female in Mississippi who does not want the uncertainty of traditional LTC policy rates and wants a one time pay and done policy. My financial planner suggested Lincoln MoneyGuard. 1st question: Is it better to purchase now or when I'm older? 2nd: What happens if the guarantee interest of 4% is not met especially considering the interest rates currently? 3rd Question: If I don't use the total pool of money within 6 years, is it gone for good? I really wanted unlimited but most traditional LTC policies don't offer that option anymore and it appears Lincoln doesn't either.
Thanks.

Jack Lenenberg said:

Thanks for your question, Allison. I am 48 years old, as well. I own long term care insurance. so I guess I will state it is better for everyone to buy a policy now, rather than later if you truly wish to have coverage and all of your other planning needs are met. Policies are bought with good health, not with money. So, the sooner the better. Your health will change, I just do not know when, Allison. Regarding the 4% interest within Lincoln Moneyguard, it is guaranteed. It will not be increased or decreased. After interest is credited, the guaranteed cost of life insurance, long term care insurance charges, and administrative charges are debited by the insurance company. Quite frankly, the interest rate credited by Lincoln Moneyguard or Pacific Life Premier Care is somewhat irrelevant. A contract could be marketed with guaranteed 10% interest by an insurance company, but the insurance company could simply adjust its guaranteed insurance costs within the contract to make these costs 250% higher than the guaranteed insurance costs with the 4% crediting interest contract. The debits will offset the credits in both cases. If you pass away before the entire extension of long term care benefits is used the long term care benefits are gone for good. Lincoln does not offer Unlimited benefits. State Life does, however. If you wish to have Unlimited benefits, please call me at (800) 891-5824. I will get them for you.

Scott said:

Our adviser has recommended the Lincoln Moneyguard product. My wife and I are both 55 and he is recommending $50K. We live in Utah. Is Pacific available in Utah and would there be advantages to their or other policies under our situation? Do you recommend increasing the deposit? We are both in good health.
Thanks

Jack Lenenberg said:

Hi Scott, For 55 year old married couples, Lincoln Moneyguard will most likely not be your best option. Lincoln will only offer you $3303/month for a 6 year benefit period; Lincoln will offer your wife $3872/month for a 6 year benefit period. Pacific Life is slightly better than Lincoln for you, but not compelling; Lincoln is better for your wife, but not compelling. Better coverage will be offered to you through either Genworth or through State Life. State Life will offer you each $4800/month with Unlimited benefit periods; Genworth, if you are healthy, will offer you $5591/month and $5163 month respectively, 6 year benefit periods each. To maximize your coverage you would be best advised to focus on either State Life or Genworth. To address inflation protection, you may wish to deposit more than $50,000 per person, but you will definitely want to explore your options at the very least with either State Life or with Genworth. If you wish my assistance in further examining your options, please call me at (800) 891-5824. Thank you Scott.

Paul McKinley said:

Hi Jack! I am nearly 58 and wife is 55, both in excellent health. My broker has quoted each of us with a $50k MoneyGuard Reserve Plus. We received quotes with and without an inflation rider. We live in CA and will be retiring in roughly 2 years. Your thoughts? Thank you!

Jack Lenenberg said:

Hi Paul, For premium deposits of $50,000 per person Moneyguard will provide you about $3000/month for 6 years with no inflation, and Moneyguard will provide your wife about $3875/month for 6 years with no inflation. As a comparison, State Life will provide you each about $4650 month with Unlimited benefits each. Genworth will provide you between $4200-$5000 month for 6 years, depending upon health history. So, I guess my thoughts are as far as maximizing your benefits, Lincoln Moneyguard might not maximize your long term care coverage as well as State Life or Genworth will for you. Seems like your broker only has one option to bring to your table, so if you wish to see all of your options and wish to work with me please call me at (800) 891-5824. I will email you State Life and Genworth illustrations so you may see the differences. Thanks Paul.

Michael said:

Hi Jack, thank you for providing such an informative site. I especially liked the questions and answers section. As a follow up your earlier response to Jean about funding a LTC annuity policy with IRA money, if you would, please elaborate on the pros and cons of doing so. And since you mentioned State Life as one who offers it, I am wondering if there are other companies that do as well and whether or not you recommend this approach?
Thanks again,
Michael

Jack Lenenberg said:

Hi Michael,

Yes, State Life accepts IRA money to fund either its Annuity Care policies or its Asset Care III policy.

I suppose there are no cons to the approach of using IRA money, but I would not wish for the "tail to wag the dog."

My best advice is to always choose the long term care contract that best accomplishes your long term care planning objectives first and foremost, i.e. monthly benefit, benefit period, inflation protection, if any; the funding of the policy should be the secondary consideration. Thus, if you feel a traditional long term care insurance policy is more suitable for your needs than a hybrid LTC policy, you should buy the traditional LTC policy and figure out the best funding strategy the specific policy that meets your needs. If, after your research, you feel a hybrid LTC policy makes sense then you should approach the funding strategy in the same respect.

As far as the 2 State Life options, the Asset Care contract is often better LTC leverage than Annuity Care contract but it will depend upon the age and health of the applicant. Annuity Care is easier to health qualify for in some respects.

With Asset Care, the IRA Money is transferred into a tax deferred annuity that is used to fund a 20 Pay Whole Life contract. The taxes on the IRA distribution is spread out over 20 years; the LTC benefits will be tax free.

With Annuity Care, the base annuity policy will be taxable as income if LTC is needed, while the LTC COB rider will provide tax free benefits.

Most importantly, however, is to determine the overall leverage that the premium deposit will yield to elect the most favorable utility value of your asset.

If you would like to see illustrations specific to your situation, please call me at (800) 891-5824. Thanks Michael.

Lori said:

Your blog sire is very interesting. I am working with a financial advisor who has presented me with two LTC optins. They are:
$180,000 Money Guard Policy
$300,000 Prudential Critical Care policy

The Prudential policy requires no submission of bills but an annual doctors report stating that I cannot 2 out of 6 ADLs. If I do not use any or all of the $300,000 towards care, the remainder is paid out at death.

The Money Gaurd will require receitps, etc before payments are made.
Minium death is 10% of policy or in the policy beving offered to me $18,000. I can however, ask for full refund over 5 year payment plan if I change my mind.

What do you think of these two policies?

Jack Lenenberg said:

Hi Lori,
The Prudential policy is a life insurance focused policy-not a long term care insurance focused policy. If your concern is long term care planning, the Prudential policy is really a complete and utter waste of time. If your primary objective is death benefit needs for your survivors, the Prudential policy is fine, I guess. However, there are probably better policies with stronger death benefit guarantees available if you are in fact doing life insurance planning.

The Lincoln policy will focus on long term care benefits, not life insurance benefits, so it is the better option of these two options for your long term care needs. I believe you are a Colorado resident, Lori? If so, and your objective is long term care planning you will most likely have better options than both of these 2 policies. If you have any additional questions, please feel free to call me. Thanks Lori.

Jerry Hirshfeld said:

Jack, Great blog. My financial adviser gave me a Lincoln Moneyguard II proposal. There is not a 100% return of premium benefit if I change my mind. Does Lincoln still offer a money back guarantee? I am 59 and live in Massachusetts.

Jack Lenenberg said:

Hi Jerry, To answer your question as to whether full moneyback guarantees are available with Moneyguard II: "Well,...Sort of" Lincoln Moneyguard II is the new Moneyguard policy replacing the Reserve Plus policy. Moneyguard II is offering 2 different return of premium options: a 100% vested benefit in which you receive a full return of premium after 5 years; and a basic option in which you receive 80% of your premium back if you change your mind. If you accept the 80% return of premium option with Moneyguard II, your long term care benefits and your life insurance benefit are 12% greater. For example, if you deposit $100,000 into Moneyguard II you receive $5923 month, 6 years, 3% compound inflation protection, $142,000 death benefit with basic 80% return of premium; or you will receive $5305 month LTC, 6 years, 3% compound inflation, $127,000 death benefit with 100% vesting after 5 years. Most people never surrender their contracts. Thus, I think you will be better off accepting the basic ROP with Lincoln Moneyguard II if you intend to keep Lincoln Moneyguard II in-force. If you insist upon 100% full return of premium from day 1, Genworth Total Living Coverage or Pacific Life Premier Care will be your options. If you would like to receive additional illustrations please let me know. Thanks Jerry.

Peder said:

Hi Jack,
Great Website!! Lots of info.
I am 68, my wife is 66. Our financial advisor recommended we each invest $50K into the MoneyGuard Reserve Plus LTC. This would provide a monthly LTC benefit for me of $2,313 and $2,883 for my wife. Total LTC benefit for me, $166,518 and $207,570 for my wife.
After reading all the questions and your answers, it sounds like Pacific Life would give me better benefits. What do you suggest, and should I up the ante to $75K or $100K?

Jack Lenenberg said:

Hi Peder, Right now for married couples State Life is offering the best policy by far. To provide you an idea as to what State Life will offer you, your wife and yourself can each receive $3200 monthly long term care benefit, Unlimited Lifetime benefit periods for the same premium deposit that Lincoln is offering you $2300 and $2883 respectively, for 6 years only. Pacific Life might no longer be compelling. Pacific Life adjusted its rates last year. Pacific Life would offer you $2466/month LTC benefit for 6 years per $50,000 deposit. Slightly lower costs of insurance than Lincoln, but again not compelling when viewing what State Life will provide for you. If you are healthy, Genworth will be the only other company to consider other than State Life. State Life is not available in every state, so please give me a call at (800) 891-5824 and let me know where you reside. Thanks Peder.

Ruth Alota said:

Hello, I am a 65 year old female retired teacher in Monterey, Calif. Except for Diabetes Type 2, I'm in excellent health and played tennis for a local college women's team. I've been researching and asking friends what long term care plan they have and one of them mentioned Lincoln. I would like more information on Lincoln 's long term care policy or any recommendation you can offer.

Mike said:

Jack, thanks for the blog; it's a great source of info. I am 59 and my wife is 60. We live in Alaska. Neither of us have any of the disqualifying conditions listed in the Lincoln pre-qualification document. My financial advisor recently provided us with a proposal for Lincoln MoneyGuard II at $100,000 each. We are wondering if this is the best hybrid plan available for us. The projection we received has a 6 year duration with 3% inflation protection (the projection doesn't state whether this is simple or compound). I think I would feel more comfortable with 5% compound inflation protection and perhaps a shorter duration, say 3 years. Do hybrid policies offer such options?
The projection also includes riders for Acceleration of Benefits and Extension of Benefits that appear not to cost us anything out of pocket, but the charges for which reduce the basis of the policy. Am I correct in assuming that if we use the product for either LTC or life insurance the effect of the rider charges on us will be nil?
We will likely move out of Alaska within the next few years. Will we be able to purchase a hybrid policy for considerably less money (or better benefits for the same purchase price) if we move to a cheaper market?
If we choose to buy now, do you know of a hybrid policy that would be more to our advantage than Lincoln's offering?
Thanks so much.

Jack Lenenberg said:

Hi Ruth, I will send you information on Lincoln Moneyguard. For 65 year old females residing in California, another policy that you will be a great policy to consider is the Mass Mutual traditional long term care insurance policy. It is priced very well; and Mass Mutual is an A++ rated company. I will send you both options.

Jack Lenenberg said:

Mike, in reviewing hybrid policy costs for a married couple residing in Alaska, it appears Lincoln Moneyguard is not your best policy value. The State Life Asset Care policy is currently your best hybrid policy value. Or a traditional long term care insurance policy would possibly also be a much better value than Lincoln Moneyguard, especially if you only wish to have 3 year benefit periods and/or 5% compound inflation protection. The Lincoln illustration you received is with 3% compound. You can buy hybrid policies with benefit periods of 3 years, however with hybrid policies (because you are re-positioning an asset for leverage; and the asset is offset at claim time) you are better off with as long as a benefit period duration as possible. Shorter benefit periods are not a proper plan design with hybrid policies. If you make a claim, the rider charges are waived. I imagine you might have questions. You may reach me at (800) 891-5824 to discuss. Thanks Mike.

Gary said:

Jack, I did not see any mention of Nationwide in your blog. Are you familiar with their hybrid LTC products, and if so, how do they compare to the others mentioned here?
Thanks.

Jack Lenenberg said:

Hi Gary, Yes, I am familiar with the Nationwide hybrid policies. Earlier this year I believe Nationwide filed for a new policy called Care Matters which will offer extended LTC benefits like Lincoln Moneyguard, Genworth TLC,State Life Asset Care, and Pacific Life Premier Care. The advantage of the Nationwide policy is that it will be indemnity based, not reimbursement. Thus, your advantage with Nationwide is that you will not have to provide receipts. The Nationwide brochure states for a $50,000 deposit a 60 year old male will receive $195,000. For the same $50,000 deposit Genworth will possibly provide $318,000. Lincoln will provide $245,000. So, while the indemnity is a nice feature, it will be provided by Nationwide for a significant cost tradeoff in benefits.

Jeanie said:

I am a 59 year old female, and 8 years ago I was diagnosed with common variable immune deficiency. I was getting bronchitis and sinus infections 3-4 times a year. My doctor had me go on weekly shots to correct the problem. One agent told me that it would be unlikely I could get long term Insurance with that condition. He told me that if I was turned down, that other companies would know that. Is that true? Now I have been off the shots for about 9 months. My doctor said it looks like my body has learned how to fight off respiratory problems. I have no other health problems. Should I apply? What if I am declined.? Do all the other companies know about it?

Jack Lenenberg said:

Jeanie, I spoke with my underwriters on your behalf. I can get you approved. Common variable immune deficiency is a diagnosis that some underwriters will work with, while other underwriters will decline. This is why it is important to work with a very experienced agent that can shop your application to every underwriter. Most agents only work with 3-4 companies, and they are not in a good position to help you. Bu the way, it does not matter if companies know that you have been declined. the key issue is whether your health history allows you to be approved with the underwriter you are applying to. I receive approvals regularly for clients that have worked with the wrong agent and been declined elsewhere.

Kari said:

Hello, my husband and I are starting to think about LTC. We currently hold several New York Life policies (life insurance and annuities)and are very happy with them. Our agent said she can't sell us LTC in California right now because we aren't 50 yrs old. Apparently the state of CA has to approve new rates for people under 50. We are 48 yrs old. Should we wait? Are you familiar with their products and financial strength? I worry about going with some of these companies I've never heard of. What if they aren't in business when I need the money years for now? Sure, the quotes may sound good now, but if they go bankrupt because they weren't solid that would be devastating loss! Thanks for your blog. Good food for thought.

Jack Lenenberg said:

Hi Kari,

You could wait, but it is very possible in 2 years when you turn 50 the NY Life rates will not be as attractive as they are today. You could move forward today with Mass Mutual, a comparable company to NY Life. Mass Mutual and NY Life are each rated A++ with AM Best. Each company is a mutual company. Unlike NY Life, Mass Mutual has never requested any rate increases on active policyholders in any state. New York Life passed along a 40% rate increase to active policyholders in many states last year. I would advise moving forward with Mass Mutual today.

Ellen said:

Hi. My broker has suggested MoneyGuard II for $100k over ten years. I live in Virginia, am single and 56, no health issues. I have been researching LTC for days now and just came across your blog. Have also been reading NAIC's "A shopper's guide to Long-Term Care Insurance." Want to be knowledgeable and then do the best and most smart thing for me. But will admit it all is a bit confusing - especially after reading all the other options you have mentioned to folks. Any suggestions? Thanks.

Jack Lenenberg said:

Hi Ellen, Moneyguard is a decent option for you as a single female age 56 in good health if you are dead set on a hybrid policy. An alternative option for you might be to retain your principal and to purchase a traditional long term care insurance policy. The same comparable long term care insurance benefits offered to you through Moneyguard may be purchased for about $1400.00 per year through your Federal Employees LTC Program. With this discounted rate available to you through the Federal Employees Group LTC plan, I would advise you to apply for a traditional policy with the Federal Employees. This is the best group LTC plan in the country, bar none. It is probably the last good group LTC plan remaining.

marie said:

My broker is recommending Money Guard Reserve Plus at a $132,584 premium and $331,538 LTI at 5 years. I will be 57 by the end of the year and in good health. The surrender value is 100% but for only the first 6 months then it goes to 90% and eventually back to 100% after 61 months. The death benefit is $180,ooo with a residual death benefit at $18,000. There are rider charges and surrender charges. I'd like to get comparisons and perhhaps invest less than $132,584. There is also the optional inflation rider that increases the monthly CCBR by 5% compounded annually. I understand it will take 2 life malfunctions to allow for payment/reimbursement. LTI is my focus (not so much life insurance)and I'd like to have some comparisons. I was told only 2 companies do this but this is the best for me - no comparisons.

marie said:

I think I forgot something important - the monthly max starts out at $5,000 growing to $20,581 in year 30.

Jack Lenenberg said:

HI Marie, Hope you are having a relaxing Memorial Day holiday weekend. Thank you for your detailed inquiry. You actually did not forget anything important. $331,538 LTC Pool of Money indicated to me you are looking at an illustration with a $5000 monthly LTC benefit :) I will send you all of the comparisons you will need to make an informed decision. As you might be aware from reading my blog, there are definitely more than 2 companies that will provide you these benefits.

shelley said:

Hello, very helpful website! My broker is recommending Money Guard Reserve Plus for me and wife. We live in Florida, good health, age mid 40's. Each of us $50K premium for 7 year plan, 5% compounding. What do you recommend? is this the best one? Thanks.

Jack Lenenberg said:

Hi Shelley, For your situation, the State Life Asset Care policy is significantly more value than the Lincoln Moneyguard Reserve Plus policy. For a 50,000 deposit per person, Lincoln Moneyguard will provide you each today with only an $1850 monthly long term care benefit, 7 year benefit period, 5% compound inflation. For the same deposit, the State Life Asset Care policy will provide you each with $5000 month benefit, Unlimited Long Term Care rider, and 5% compound inflation protection on the Unlimited LTC rider. I will send you the Moneyguard and the State Life Asset Care illustrations. If you wish to work with me, I will get you the better policy. Thanks Shelley.

Pam said:

Hi, Jack! What do you think would be the best LTC option for a 54 year old single woman living in CT (nonsmoker)- I've looked seriously at Lincoln Money Guard, it seems awesome! Thinking a 5% inflation rider, 7 year plan, $100K premium would probably be best for me. I'm seeing your earlier comments about Genworth, Pacific Life and State Life Asset Care - how do they compare...? Are the latter two even offered in CT? Thank you -

holly said:

My husband and I are both 58 years old, live in KS, and our financial advisor is suggesting we both purchase a Lincoln MoneyGuard II LTC/life insurance policy. He suggests each of us pay a one time premium of $50k for a policy with a LTC acceleration of Benefits rider ("LABR") and a LTC Extension of Benefits rider ("LEBR.") It is my understanding that the monthly charges for the riders are payable until the 10th policy year. In crunching the numbers, the charges for these 2 riders would total over $34,000 on my policy alone. While we find the LTC/life insurance hybrid concept attractive, I'm wondering if this Lincoln product is the best for our particular situation. We are both in excellent health and have passed the underwriting interviews, and we feel we can easily contribute $100k toward our long-term retirement planning now, without worrying we'll need the cash at a later time. I would appreciate your thoughts on our advisor's recommendation for us.

Jack Lenenberg said:

Hi Pam, The Lincoln Moneyguard Reserve Plus policy still available in Connecticut will provide you about $3500 month, 5% compound growth, and a 7 year benefit period. For hybrids available in CT, I like this option; Alternatively, you could consider retaining the $100,000 and buying a traditional LTC policy. You could buy the same benefits Lincoln is offering for about $4000/year in premium. Connecticut tends to reject all rate increase requests on traditional LTC policies, so a traditional policy might be OK to consider, too.

Jack Lenenberg said:

Holly, for a $50,000 deposit per person, the Lincoln Moneyguard II policy will provide you each with long term care benefits of about $3500 month each, 6 years of benefits each; or about $2600 month each, 3% compound inflation; For a combined premium deposit of $100,000 I would advise you look at the State Life Asset Care policy. You will each receive a $4500 month long term care benefit per person; and you both will have Unlimited long term care benefit periods. Alternatively, traditional LTC insurance policies can be purchased for about $1500/year per person to derive the same $2600 month, 3% compound LTC benefit Moneyguard will offer you. Please call me at (800)891-5824 if you wish to receive illustrations.

Dorothy said:

I am considering Lincoln Moneyguard. I live in Ohio where it is available, but may move to NEw York or Washington DC. I believe it isn't available in NY, but once purchased, benefits may be used anywhere in the US - correct?

Jack Lenenberg said:

Hi Dorothy, Lincoln Moneyguard Reserve is available in New York. Lincoln Moneyguard II is available in Ohio. Benefits with either policy may be used anywhere in the United States, of course. Depending upon your needs, you might prefer the Lincoln Moneyguard Reserve contract over the Lincoln Moneyguard II contract so if your possible move to New York is in the very near future maybe it makes sense to compare both the Ohio and the New York options. I am licensed in 50 States so let me know if I may assist.

Joe Garro said:

Is there any policy out there that does not limit the length of time benefits are payable? I understand the pool of money concept, but what if I need care beyond a six year window and there is still money left?

Jack Lenenberg said:

Joe, there are no time limits to any LTC policy. If you have not accelerated all of your benefits, you will still have coverage with all policies.

Now, if your concern is that a 6 year benefit period might not be enough coverage, there are policies with longer benefit periods. The State Life Asset Care hybrid LTC policy provides lifetime unlimited long term care benefits, as well as a paid-up life insurance policy. You may read more about the State Life Asset Care hybrid policy within my blog. And State Life Asset Care provides joint coverage for couples. It is a great LTC policy. The Pacific Life hybrid will provide 8 year benefit periods.

robert said:

Hello Jack,

Like many of the others on this blog I have begun LTC analysis. I am 56 and the wife is 49. Another year will pass for the both of us by March. We are retiring by the end of the year and will be moving from NY to PA (90%) or DE.
We have spoken with many potential "financial advisers" about our overall situation and the topic of LTC has come up. We been recommended the Lincoln FG MoneyGuard II product. For a lump sum payment of $60,352 (me) and $58,019 (wife) totaling $118,371 as a single premium we would each have $271,673 LTC guaranteed benefit, max monthly of $3500 with total annual rider charges of $2340 and $4398, respectively until year 10.
We are both in excellent health, non-smokers and will likely make any purchase in PA after the first of the year and before the next round of birthdays. The hybrid nature of the policy is nice but not essential.
I know that is a lot of information for a very simple question: would you make this same recommendation? We will not purchase a policy from a financial adviser out of concerns over conflict of interest.
Lastly, what is the minimum rating you recommend that any insurance company should have given the very long term that these single premium policies will cover?
Thank you.

Jack Lenenberg said:

Hi Robert, Lincoln Moneyguard II is available in PA, but as you are currently in NY you still have an opportunity to purchase the Genworth Privileged Choice Flex 2 traditional LTC policy. Genworth will sell you the same benefits as Lincoln Moneyguard for only $1000/year per person. So, I suppose your analysis is would you rather write a check for $60,000 per person, or would you rather keep the money invested and write a check out of earnings for $1000/per year per person. Sure, the Genworth policy might have rate increases, but New York is an awfully difficult state to get rate increases passed. So, you could leverage the current pricing of Genworth and your current New York residency into a very good deal before you move to PA or DE. Regarding Lincoln Moneyguard, you were shown vested model designs. You can also save 10% on premium with Lincoln's basic design model. Regarding minimum ratings, an A rated or better company is perfectly fine. You may reach me at (800) 891-5824 to discuss. Thank you Robert.

Mike said:

I am 66 and my wife will soon be 65. Our health is fairly good. We live in MD. We thought about paying over time or using IRA money for a hybrid policy. Only 1 aunt on my wife's side has needed long term care. Recommendations you would have (company, amount, etc.) Thanks!

Jack Lenenberg said:

Hi Mike, You can use IRA money to fund a hybrid policy with State Life that will provide your wife and yourself each with Unlimited long term care benefits. For example you can each buy a $6000 monthly long term care benefit for a Lifetime benefit period (Unlimited Benefits) with an $83,000 rollover from your IRA into a policy, and either a single premium of $53,000 or an annual fixed guaranteed premium of $3200. So, a total premium outlay of $136,000 ($68,000 per person) will provide you each with a $6000 month long term care benefit, and Unlimited benefit period. If care is not needed your heirs will receive a $150,000 life insurance benefit.

Ed Levinson said:

Hi - I am 62 and my wife will be 59 next month. We are in good health and live in PA. We currently have a LTD policy but am considering dumping it in favor of a hybrid. Our banker/ investment consultant has recommended Lincoln Money Guard II with a 5th investment each. Are there better options for us? Thanks.

Jack Lenenberg said:

Hi Ed,

Thank you for your inquiry. Lincoln Moneyguard II is a reasonable hybrid policy for PA residents. If you are dead set on hybrid LTC policies and are in good health, the Genworth Total Living Coverage policy might be a better value for you if you qualify for Preferred rates with Genworth. Alternatively, you could consider a traditional long term care insurance policy. Just depends what your objectives and preferences are.

Unfortunately, the best hybrid long term care insurance policy for couples -the State Life Asset Care policy that offers you Unlimited Lifetime long term care benefits--- is unavailable in Pennsylvania on a joint basis.

To further discuss your options, you may reach me in my office at (800)891-5824. Thanks Ed.

anandhi said:

My husband (54) and I (50) have both gone thru the underwriting process with Genworth and Lincoln. My husband got the standard rate and I the preferred rate. Genworth TLC product and Lincoln's Money Guard Reserve Plus Product, single premiums of $65K for my husband and $50K for myself. We live in California.I am having a hard time deciding which company to select. Genworth's LTC benefits are better, but if we don't need them thn Lincoln's death benefits are better (I am comparing the Guaranteed values table on both policies). My questions are:
1.Can guaranteed benefits be changed if the company decides to change pricing, even if mine is a single premium policy?
2. Can I make multiple claims on my policy, say for 6 months when I am 55 years old and then for 3 years when I am 60 years old, or am I only allowed one claim?
3. Which company should I go with? Genworth has received a lot of negative publicity lately and that concerns me.
Thanks
Ana

Jack Lenenberg said:

Hi Ana, Thank you for your inquiry. In reviewing the benefits offered through Lincoln Moneyguard and Genworth Total Living Coverage for a male age 54, Standard health, $65,000 deposit; and a female age 50, Preferred health, $50,000 deposit it is crystal clear to me that for both your husband and for you the Genworth Total Living Coverage policy is the better policy value than the Lincoln Moneyguard Reserve Plus policy. Now, there can be multiple ways to design each contract, but on an apples-to-apples basis, Genworth is definitely the better choice for the premium you referred to. Now, the one contract for couples that might be better than BOTH the Genworth Total Living Coverage individual policy the and Lincoln Moneyguard Reserve Plus individual policy is the State Life Asset Care 1 joint policy that will offer you Unlimited Lifetime long term care benefit periods. Regarding your remaining questions, 1) guaranteed benefits can not be changed; 2) multiple claims can be made on all long term care contracts; and 3) for guaranteed contracts such as these you should go with Genworth over Lincoln if you can ignore the noise regarding the Genworth situation underlying its traditional LTC legacy policies' (1990's) block of business. This being said, the State Life Asset Care contract is the most attractive LTC policy for couples and it is a viable option to Genworth. Thank you Ana. I can be reached at (800) 891-5824 to discuss.

Cindy said:

We have been advised to invest 50,000 in Lincoln Moneyguard 2. My husband is 61 and I am 59. In excellent health, non smokers.,what would you suggest,

Cindy said:

From michigan

Jack Lenenberg said:

Hi Cindy, For married couples ages 61 and 59 in Michigan, Lincoln Moneyguard will provide your husband with a $3057 monthly LTC benefit, 6 year benefit period; and will provide you with a $3413 monthly LTC benefit, and 6 year benefit period. If you add 3% inflation protection, your husband's benefit will be $2472; your benefit will be $2349. In reviewing alternate policies available in Michigan, you can do not just a little bit better, but a LOT better. One example is for the same premium outlay I can design the State Life Asset Care policy to provide you each today with a $5500 monthly LTC benefit, and an Unlimited Lifetime benefit period. Even with the inflation adjusted Moneyguard policy, it will take 30 years before a $2400 monthly LTC benefit approaches $5500 month, and you still would only have a capped benefit period of 6 years, not Unlimited. So, for one example the State Life joint unlimited LTC policy is a much better purchase for you. There may be additional options to consider, as well. Should you wish to work together and see comparative illustrations and analysis please call me at (800) 891-5824. Thank you Cindy.

George said:

Great site. I will be 69 soon and my wife 68, both in good health. We are aware of single premium Lincoln Moneyguard II and just became aware of Pacific life. (and State life from your site) I think we favor hybrid policy over State of TN plan [from GEnworth?]. Do you suggest a net worth limit that LTC insurance is not needed?

Jack Lenenberg said:

Hi George, Thanks for the kind words. Thrilled my website helps so many people. I do not suggest a net worth limit where long term care insurance is not needed. Many of my clients tend to be somewhat high net worth. Certainly comfortable. So I find long term care planning revolves more around "want to" than "needs to." And for hybrid policies to be suitable the policyholder needs to be in the stage of life where the repositioning of the liquid asset will not impact retirement income or lifestyle. I think so, anyway. By the way, at your ages....later 60's.....State Life Asset Care will yield to you MUCH greater leverage in the form of long term care coverage for your premium deposit than Lincoln Moneyguard or Pacific Life Premier Care ever will. You may reach me at (800) 891-5824 to discuss or if you wish to work together. Thank you again George for the positive feedback on my website.

Joyce said:

I am considering purchasing Lincoln MoneyGuard Reserve account to protect my assets in the event long term care is needed. Since this is a hybrid investment, am I correct in thinking that the premium I pay (lump sum over 3 years) is not eligible for federal tax deduction?

Jack Lenenberg said:

Hi Joyce, Yes, you are correct. Only traditional long term care insurance policies will afford policyowners tax deductibility of long term care insurance premiums. Thank you Joyce.

Glendora Paxton said:

Hi Jack, I was thrilled to find your web site! I believe I read somewhere that advisers usually only give one option on LTC! Our adviser has recommended the 7 year Pacific PremiereCare Advantage Multi-Pay with ABR and EBR Riders and a 3% simple inflation benefit. My husband is 59 and I am 58. We live in Missouri and my husband had prostate cancer about 1.5 years ago. They removed the prostate and he has had good tests since. There is also a couples discount/ The recommendation for my husband is total premium paid over 7 years of $54.230. For me same time frame but cost is more for woman? $9,500 per month? Would this be the right policy for us and if not which one would you recommend and why?

Jack Lenenberg said:

Hi Glendora,

Yes, unfortunately most financial advisers only work with one company and do not especially focus on the issue of whether the policy they sell is a good value for you. Pacific Life is priced lousy for females, so yes....you can do a lot better. Your agent is presenting you with benefits of $2500 month with 3% simple inflation. For the premium Pacific Life requires you can obtain a higher monthly benefit as well as compounded inflation growth on your benefits. Your husband can also do better than Pacific Life. Either the State Life joint Asset Care policy with lifetime unlimited LTC benefits or Lincoln Moneyguard individual policies will yield much better coverage for you. Please contact me at (800) 891-5824 to discuss should you wish to work together. Thanks Glendora.

Ghada said:

Hi Jack, I just learned about this long term insurance this week, that is how I got to your website, which I found very helpful. I am 50 year old and in good health, I live in VA. My financial adviser suggested that I invest $50,000 in MoneyGuard. Do you think this is the best option I have?

Jack Lenenberg said:

Hi Ghada, for a 50 year old female, a $50,000 deposit into Moneyguard will provide a $2900 monthly LTC benefit growing at 3% compound inflation. So, my first thought is 1) have your financial adviser and you had a meaningful conversation about the current cost of care and is your adviser's recommendation based upon a long term care plan? Is $2900 month growing at 3% appropriate coverage for you? If you live in Northern VA this really may not be enough coverage. Regarding the choice to use an asset-based policy such as Moneyguard to buy LTC coverage, you may alternatively wish to consider using a traditional policy and retain your principal. For example, you can buy a $3000 monthly LTC benefit, a 6 year benefit period, and 3% compound inflation for an annual premium of about $1400-$1500 year with an A++ rated mutual company such as Mass Mutual. Would you prefer to pay $1500 year and retain your $50,000, or would you prefer to write a check today for $50,000? Without knowing more about your specific situation, it is hard for me to draw a conclusion about what your very best option is. You may reach me at (800) 891-5824 to more fully discuss your specifics. Thank you Ghada.

Larry Scrivner said:

My client is age 65, his wife is 60, and we are in Washington state. Which plan would be best to show him. He is already covered for LTC through LEOFF. So, it would only be on the wife.

Jack Lenenberg said:

Hi Larry, The Mass Mutual traditional LTC policy would be the best priced and most efficient LTC policy today (October 2015) for a 60 year old female applicant. I expect new business pricing to change shortly for female applicants with Mass Mutual, however. Probably within 3 months. For now, Mass Mutual is a great option. If your client only wants (or if you only want to sell) an asset-based policy, either Lincoln Moneyguard or Genworth TLC will be worth a look for a 60 year old married female applicant applying alone. You will want to avoid the Pacific Life asset-based policy, as well as traditional policies with John Hancock, Mutual of Omaha, Northwestern Mutual, Transamerica et al, due to non-competitive pricing for females. Thank you Larry.

Brian Penney said:

Hi Jack, I just turned 63 and I am a single male living in New York. I have been offered a Lincoln Money Guard Reserve policy for $55,844 with a CCBR of 2 years and an EOBR of 4 year. I hope to retire at 65 and make my permanent residence in MA. Would it make sense to wait until I retire to reduce the premium I would be paying? Thanks.

Jack Lenenberg said:

Hi Brian, yes I do prefer the Lincoln Moneyguard II policy currently available in MA to the Lincoln Moneyguard Reserve Plus policy available in NY. Also, if you can qualify for Preferred health discounts the NY Genworth Total Living Coverage policy will also be much better for you than Lincoln Moneyguard. Genworth TLC is the better NY hybrid policy all around. So, your best move today would be to buy the Genworth policy. In 2 years, IF a better option exists in MA whether with Lincoln or with any other company, Genworth will give you 100% of your money back and you can switch. In the meantime, you have your coverage should health change or should better policies not exist in 2 years (likely). I can be reached at (800) 891-5824 to discuss. Thanks Brian.

John Jurgens said:

Jack.
I'm just 62 and my wife is 53. We live in Washington state. I had my financial agent offer up Lincoln Moneyguard II policy to us as a LTC policy. She quoted us a 10 year pay @ $5K /yr for a total of $50 K each. It looks like I would start at 2370 and my wife would be 2637 per month adjusted at 3% annually for 6 years minimum. What do you think and can I do better?
Lemmeno,
John

Jack Lenenberg said:

Hi John, Yes you can do much better than the Lincoln Moneyguard II contract for premium of ~$50,000 per person ($100,000 total). The State Life Asset Care joint policy will provide you each with a Lifetime benefit period, $6000 monthly benefit per person and your joint premium outlay is only $93,000. Your wife and you could each receive a $7000 monthly benefit per person and Lifetime benefit periods with State Life for only $109,000. So, if you wish to spend $100,000 you should purchase the State Life Asset Care policy. You will not have to wait 30-35 years for your monthly benefit to grow from $2500 month to $6000-$7000 month; and you each will have Lifetime coverage rather than 6 years. Please call me at (800) 891-5824 to discuss your specific objectives. Thank you John.

Mike said:

My financial counselor wants me to purchase a Lincoln Moneyguard II policy as a supplement to our GenWorth Long Term Health Care policy that my wife and I purchased in 2002. Since both of us are covered by the GenWorth policy, and my wife in ineligible for coverage under the Moneyguard II policy, we don't feel the $8000 yearly premium for the Moneyguard II is worth it since we are paying about $3000 a year for the GenWorth. I have ample life insurance and a yearly pension over $70,000. Do we need the extra coverage given its pricy cost?

Jack Lenenberg said:

Mike, If your financial counselor feels you need a supplement to your 13 year old long term care insurance policy then your counselor must feel you do not have adequate coverage from your initial purchase. Please call me at (800) 891-5824 to review your in-force Genworth policies and I will inform you whether you already have ample coverage. You may have adequate coverage and buying another policy today might be over-insurance. Thank you Mike.

Mary Paxson said:

I am 63 years old, a widow, retired, living in Washington State. However, I am contemplating a move in the next few years, possibly to Colorado, Massachusetts, or the Washington, D.C. area. I am in excellent health. Many blood relatives have lived well into their 90s. At the same time, my mother has been wheelchair bound for more than 10 years. My financial advisor has recommended the Lincoln Moneyguard 2 policy with a one-time premium payment of $100,000. I would appreciate your advice.

Jack Lenenberg said:

Hi Mary, If you are comfortable with only 6 years of coverage, either Lincoln Moneyguard or Mass Mutual are reasonable policies for you. State Life Asset Care will give you unlimited lifetime long term care benefits should you have concerns that 6 years of coverage might not be enough, especially in viewing your mom's long term care needs. Please contact me at (800) 891-5824 to review all of your policy options. Thank you Mary.

David Casey said:

My wife who is about to turn 62 and myself at age 66 are considering the Moneyguard II for LTC. We live in Texas and our financial planner suggested the policy where we pay $10,000 a year for 10 years and if we opt out of the program we would only get $80,000 back in order to increase the monthly payment. My mom is in LTC at age 95 and she has been able to pay for her care out of her investments and the sale of her home. My wife really wants LTC insurance but tying up $200,000 in assets doesn't feel right to me.Do you have any other suggestions?

Jack Lenenberg said:

Hi David, 10 Pays with Lincoln Moneyguard will provide you each with ~$4200 monthly long term care coverage, 3% compound inflation protection. You could obtain this level of coverage on a traditional LTC policy for approximately $2500 annual premium for your wife, and $3200 annual premium for you. Mass Mutual will be your best underwriter for a traditional LTC policy. For hybrid policies, you could also consider the State Life Asset care joint policy. Asset Care purchased on a joint basis will also tie up significantly less premium than Lincoln Moneyguard. Please call me at (800) 891-5824 for customized illustrations. Thank you David.

Monica Wilkinson said:

Looking for hybrid life insurance policy for myself and my partner. I am 64 with no health issues. From funding point of view would much rather purchase the 10 pay policy from Lincoln Moneyguard but not sure this is best option for amount of long term coverage. My partner is 74 with good health except for afib and has $50k to put towards Ltc. What do you recommend? We live in Florida. Thanks for the help

Jack Lenenberg said:

Hi Monica, Best option would be a split funding approach with the State Life joint Asset Care plan. Your partner could deposit $50K as a single pay; you could elect to fund your deposit over 10 years. You each would have individual lifetime benefits within the joint policy. You may reach me at (800) 891-5824 to further discuss or to receive customized illustrations. Thank you Monica.

Cy Young said:

A potential financial advisor has recommended Lincoln MoneyGuard II as a method of LTC coverage for my wife(68) and me(69) both in good health with good family history of longevity. The 1 time premium would be $118,,033 and $128,154 for a $6000 monthly benefit for 6 years or $144,000 "Specified Amount". Having read your comments above, you suggest that there may be better alternatives, especially the State Life Asset Care plans. Is that available to us in NH?
Thank you

Jack Lenenberg said:

Hi Cy, Asset Care is available on a joint basis in New Hampshire and Asset Care is certainly a better policy value than buying 2 Lincoln Moneyguard policies. Asset Care will provide you each with $6000 monthly long term care benefit and Lifetime benefit periods for a single joint premium deposit of $147,830. The Lincoln Moneyguard joint premium amounts to $246,187. Asset Care will save you $98,357 in upfront premium and you each will have Lifetime coverage with Asset Care rather than 6 years only through Lincoln Moneyguard. You may contact me at (800) 891-5824 with any questions or to receive customized proposals. Happy to work with you, Cy. Thank you.

Andy Luu said:

My CFP recommends for both of us Lincoln Moneyguard II, $50K single premium each. I am 61 and wy wife 59, all good health, and our LTC initial benefits are $2472 and $2349, respectively, (surprised that she has less benefits), with 3% annual inflation adjustment, for 6 years. We are resident of CA. Full premium return after 5 years. We feel that the LTC benefits are kind of low. What other options we may have with other companies, or is it better to have a less premium return? We greatly appreciated your opinion and recommendations? Thank you very much for your help. Andy

Jack Lenenberg said:

Hi Andy,

Sure the LTC benefits are low- a $50,000 deposit per person with 100% Return of Premium will only do so much.

Lincoln Moneyguard Basic ROP option (80%) will provide you each about $2800 monthly benefits.

You can also look at the joint unlimited LTC benefit period Asset Care policy underwritten by State Life. A $100,000 joint deposit will probably be able to get you close to $5500 month each level benefits, Unlimited benefit periods.

The State Life Asset Care policy, 4% enhanced LTC option, lifetime benefit continuation rider will probably be your best hybrid LTC policy option.

And the Mass Mutual Signature Care traditional LTC policy is also priced terrifically for Californians, especially if you qualify for the Mass Mutual Ultra Preferred health rating.

Have your CFP properly show you these policies; or if your CFP can not show you these contracts (Mass Mutual has restrictive access so that only certain agents can now show it---I can) and you wish to work with me please call me at (800) 891-5824.

Thank you Andy.

nick mougey said:

Is there any pro or con you can offer about difference between one lump sum $100,000 versus a 3-year or a 5-year payment plan design?

Jack Lenenberg said:

Hi Nick,

Thank you for your question below.

I suppose it depends upon your source of funds, and your anticipated IRR on your assets over a short-term period of time, whether it be 3-5 years.
Most of my clients definitely elect single pay, however your liquidity as well as the specific hybrid policy you are considering will determine your best option. Lincoln Moneyguard will look OK as a 3 Pay, or even a 5 Pay. Lincoln Moneyguard is priced well for single applicant clients in their 50's, early 60's so if this is your age bracket and if you are a single applicant then a 3 year or 5 year flex pay with Lincoln could be reasonable. Should you be older, say 65-75, and possibly applying for two policies as a couple then Lincoln Moneyguard will most likely not be your best option anyway? Possibly the State Life Asset Care joint policy with lifetime LTC benefits will be much better for you. State Life Asset Care does not offer 3 Pay or 5 Pay, and in any event while Asset care is available as a 10 Pay it looks better (to me) as either a Single Pay, or a split funding design of Single Pay/Lifetime Pay. So, as with many questions my answer is: "It depends." If you have any questions or would like to receive customized illustrations or advice, please contact me directly at (800) 891-5824. Thank you Nick.

David Ryder said:

My wife and I are both 72,live in Florida since 1973,in very good health, looking into long term care. We have $100,000. to invest, what are the best options. What are the yearly fees, the monthly coverage for one of us or both of us ,the maximum pay out, individual or combined, the value of the policy when both of us die and any other question I don't know to ask. Thank you, Dave and Meredith Ryder

Jack Lenenberg said:

Hi David, your best option (by far) will be the joint Asset Care policy underwritten by State Life Insurance Company. For a single premium payment of $100,000, your wife and you will each receive individual $3250 monthly long term care benefits. You each will have Unlimited lifetime benefit periods. Your life insurance asset will be $81,250. Please contact me at (800) 891-5824 to receive customized illustrations. Thank you David.

Dianne Newton said:

My husband and I are both 67 living in California and are both healthy. We have a John Hancock group LTC policy for each of us that was purchased in 2004 with no inflation coverage. We are interested in purchasing a hybrid policy for each of us to supplement the LTC policies. We would like about $5000/mo initial coverage with a 3% compound inflation. Can you suggest what companies would work for us and what the cost would be? Thank you, Dianne Newton

Wei said:

My husband and I both 59 years old , living in TX.Our financial adviser recommends for both of us Lincoln Moneyguard II, Single payment is 158,969 for $4500 per month coverage. I want to know if there are better options? Thanks!

Jack Lenenberg said:

Hi Wei, Lincoln Moneyguard is a reasonable hybrid option. You could also consider a traditional long term care insurance policy to cover each of you for $4500 month, 3% compound inflation for a combined annual premium of $2200 year per person rather than a single cumulative premium of $168,969. Mutual of Omaha and Mass Mutual offer very good traditional long term care insurance policies. Maybe it is more efficient to retain your $160,000 and pay $4400 year. If you are prefer the single premium approach, the State Life Asset Care policy will provide you each with $8400 month level benefits, and Lifetime benefit periods rather than $4500 month, 6 year benefit periods, 3% compound inflation with Lincoln. You will be 82 before $4500 grows to $8400. I might lean in the State Life Asset Care direction depending upon your life expectancy. Please call me at (800) 891-5824 to discuss or to receive customized illustrations. Thank you Wei.

Kal Kalimada said:

I am 71 & my wife is 66 & we live in CA . We are looking at a LTC policy for both of us , maybe for 8 yrs .
We are both in good health except for some arthritis on & off, and visit our doctors annually for a check up & so far things have been good. What are our best options to get a LTC policy for me & my wife based on a $100.000/ deposit & what is your best advice on selecting a company which serves CA.Thanks

Jack Lenenberg said:

Hi Kal, The State Life Asset Care joint policy with Lifetime long term care benefits will be your best policy at your ages of 71/66. You will receive $3800 month, Lifetime LTC benefit period; and your wife will also receive $3800 month, Lifetime LTC benefit period. Lincoln Moneyguard will not be competitively priced with the joint State Life Asset Care policy for your ages. Please call me at (800) 891-5824 to receive your customized illustrations. Thank you Kal.

Jill K said:

Hi Jack - My husband and I are starting to talk about LTC insurance options. We are both 60; reside in Michigan with a second home in AZ (and may eventually move there). He is unlikely to be insurable; he had a liver transplant this year and his father died of ALS in his 70s. My health is good - just minor arthritis concerns. Can you help us sort out some options? Thanks!

Jack Lenenberg said:

Hi Jill, Yes, I am sorry to say your husband is not insurable due to the liver transplant. Sounds like your health is good, though. I will help you explore your best options. Let's talk. Call me at (800) 891-5824. Thanks Jill!

Lou said:

Hi Jack,
Great blog and very informative. I have been looking into these hybrid policies for my wife and have not decide which to apply to. Carol is 68 and in good health and would like to set her up with a $100,000 dump. would appreciate your expertise on which hybrid LTC plan would be the most beneficial. We live in PA and I reviewed Nationwide Care Matters, Lincoln's Money Guard II and Mass Mutual's Care Choice. I also got an insurance policy quote with 2 riders - chronic illness (LTC coverage) and living benefits (terminal ill).

Jack Lenenberg said:

Hi Lou, I appreciate your kind words. In Pennsylvania, Lincoln Moneyguard II will be the best individual hybrid LTC insurance option for Carol. Lincoln will provide Carol with an initial $3914 monthly benefit, and 3% compound inflation. Nationwide will provide $3419 month, but with 3% simple inflation. With the inflation factor, Lincoln will provide Carol benefits of $5700 at age 80, $6600 at age 85, and $7700 at age 90. Nationwide will only provide Carol with $4700 at age 80, $5200 at age 85, and $5700 at age 90 due to the simple interest eroding her coverage. Nationwide will also require a 90 day waiting period. The Mass Mutual hybrid policy will be worse. Mass Mutual will only provide Carol with $4400 month for 4 years with no inflation. You did not mention Pacific Life, but Pacific Life also will not look good. Pacific Life will provide Carol with $3400 month with 5% simple, which will result in $4300 at age 80, $5000 at age 85 and $5600 at age 90. Lincoln Moneyguard will probably be Carol's best option as an individual applicant unless lifetime benefits is desired. The State Life Asset Care policy will provide Carol with lifetime LTC benefits and will be the best policy to compare with Lincoln Moneyguard for Carol. I will send you customized illustrations. You may reach me at (800) 891-5824 to discuss. Thanks Lou.

Melissa said:

I am 63,female,in good health and live in Ca..
I have retirement assets and 100,000 to invest in a policy with a LTC rider.
With the help of my financial adviser and a independent LTC specialist,I have narrowed my choices down to Lincoln MoneyGuard 11 or a Lincoln variable annuity featuring Lincoln LTC Advantage.
I am leaning towards the MoneyGuard as I am uneasy with a variable annuity.
I would appreciate your input.
thank you,Melissa

Jack Lenenberg said:

Hi Melissa, Interesting inquiry as the Lincoln Moneyguard contract should only be funded with assets that are NOT needed for retirement income, and the Lincoln variable annuity should only be funded with assets that ARE needed for retirement income. The Moneyguard contract is specifically meant for long term care planning, so if this is your goal (and if you do not need the $100,000 for income needs) then Moneyguard is appropriate. Another option would be to buy a traditional long term care insurance policy. Your best premium to obtain the same benefits as the Lincoln Moneyguard benefits will be about $3500 year with an A++ rated company with unisex rates for women, such as Mass Mutual. Your "financial adviser" and your "independent LTC specialist" absolutely can NOT get the Mass Mutual Signature Care traditional LTC policy for you. Only certain agents have access to sell the Mass Mutual policy to you. Please call me at (800) 891-5824 with any questions or for assistance. Thank you Melissa.

Jane Leonard said:

What is a good choice for age 55, female and male age 54 to use IRA assets (not needed for retirement) to acquire a hybrid LTC and life insurance policy? We plan to use $100,000 for a combined policy.

Jack Lenenberg said:

Hi Jane, Best hybrid policy option for IRA rollovers is the State Life Asset Care III policy. Please call me at (800) 891-5824 for customized illustrations. Thank you Jane.

Lizzie said:

Hi Jack - your blog is amazing! I am 57 healthy female living in MD. No kids. Neither of my parents had alzheiers/dementia. Trying to determine best LTC option. I do have $75K or $100K I could invest - but how do I determine if something like Lincoln MoneyGuard II is better for me than traditional LTC insurance? Any recommendations on best way to decide? Thanks

Jack Lenenberg said:

Hi Lizzie, Thank you for the amazing feedback! So, deciding upon your best policy option is simply a determination as to which funding method you prefer. Lincoln Moneyguard will provide you with an initial monthly benefit of $3759 month, 6 year benefit period and 3% compound inflation for a premium of $75000. If you deposit $100,000 your initial monthly benefit will be $5012 month. If you purchase a traditional policy that will provide you with a $5000 monthly benefit, 6 year benefit period, and 3% compound inflation your annual premium will be $3700 year. Both avenues have risk. The hybrid approach has opportunity cost risk because you give up the use of your asset. The traditional LTC policy approach has rate increase risk because its premiums are not guaranteed. Either way, both policies- traditional and hybrid - provide you with comprehensive long term care insurance benefits. You may call me at (800) 891-5824 for customized proposals and advice. Thank you Lizzie.

Tina said:

Hi Jack, my parents were advised to purchase LTC insurance and Lincoln Money Guard was the suggested product. My dad is 77 and mom 68 both in fair health and live in Florida. They will be investing $100k for the policy and want to see if there are other comparable products available. Thank you for your help!

Jack Lenenberg said:

Hi Tina. Yes, State Life Asset Care is a comparable hybrid long term care policy and Asset Care can be issued on a joint basis for couples. The joint State Life Asset Care policy will be much less expensive for your parents than purchasing 2 individual Lincoln Moneyguard policies. Please call me directly at (800) 891-5824 for customized illustrations and advice. Thank you Tina.

Susana said:

Hello Jack,
I am a female, 58 and 1/2 years old, good health from California looking for a LTC insurance (potentially a hybrid one) . I can invest between $50 and $75K (not needed for retirement). I got a quote for Lincoln MoneyGuard II but I am wondering if that is my best option after I read your amazing blog. Can you provide some guidance? Thank you very much in advance!

Bob Lane said:

Hi Jack. Great site! So glad I found it. Our financial advisor is recommending Lincoln MoneyGuard II for us (husband 67/wife 69 in CA, excellent health). However, from your site, Asset Care (with Plus) looks more like what I would want: it would provide lifetime LTC whereas Lincoln would only provide it for some pre-determined length of time; and as the cost is less (because of the smaller death benefit), we could buy better TLC for the same money. Am I right about this?

Jack Lenenberg said:

Hi Susana,
Thank you for the positive feedback. I am so happy my blog is helpful for you. Lincoln Moneyguard II is a good hybrid policy for a single applicant, 58 1/2 year old female. The Lincoln rates are increasing next month, so maybe it makes sense to move forward now. A traditional LTC policy underwritten by Mass Mutual also presently makes sense for women as Mass Mutual still has unisex rates for women. If you like the hybrid idea more than the stand-alone traditional option then I think Lincoln Moneyguard II will be fine for you as a single female applicant.

Jack Lenenberg said:

Hi Bob, Yes, the State Life Asset Care joint life policy with Lifetime LTC benefits will be a much better value for you than purchasing 2 individual Lincoln Moneyguard policies. State Life Asset Care is priced terrifically for applicants in their later 60's. For couples applying together the joint Asset Care policy is the best option. Please call me at (800) 891-5824 to further discuss your needs and to receive customized proposals. Thank you Bob.

Suze Cohen said:

Hi Jack, I am a fellow financial planner. Have you had any opportunity to review the Lincoln Moneyguard new pricing yet? Is it OK?

Jack Lenenberg said:

Hi Suze, Well, I have been spending all of my time in the office until Midnight this week trying to ensure my clients got in the door to Lincoln BEFORE this deadline. However, early indicators in analyzing the premiums for clients that were not ready to move forward before the deadline I will tell you the BIG winner in this Lincoln Moneyguard price increase will be OneAmerica/State Life. The State Life Asset Care policy is just really priced MUCH better than Lincoln Moneyguard now, ESPECIALLY for couples. It is really dramatic now. I ran numbers for a couple in their 50's tonight. $6000 month with 3% compound inflation protection. The single premium for the male was $101,182; the single premium for the female was $103,287. Cumulative Lincoln premium is now $204,469. The State Life Asset Care joint single premium to provide lifetime coverage of $6000 month and 3% compound inflation protection is only $133,291. So, not sure how the marketers and the wholesalers are going to try to spin this one (Moneyguard 6 year benefit periods are less than Asset Care Lifetime benefit periods and $204,000 is more expensive than $133,000), but I am sure the wholesalers will try to spin it because that is what they are paid to do. Just huge savings with OneAmerica/State Life today on a joint applicant basis. I hope you have access to both underwriters Suze. Thank you for visiting my blog. If your clients need any planning guidance call me at (800) 891-5824. Thanks Suze.

Georgia said:

My financial advisor suggested supplementing by LTC coverage with a hybrid insurance. She suggested Lincoln Moneyguard II. After reading your blog I am wondering if State Life Asset Care might be another choice. I am 79 years old and in good health. I exercise at a gym to build up strength in back. I don't take any prescription drugs except a mild sleep pill mirtazapine. I Live alone in my own house. I have LTC insurance with John Hancock which I purchased in 2008 and have never submitted a claim. It would cover about 1/3 daily care at today's prices. MY question is which of the above insurances is a better fit for me. Thank you for your reply.

Jack Lenenberg said:

Hi Georgia, Your financial advisor is really not doing you any favors here. State Life Asset Care will be significantly better for your needs.
For example, if you purchase a $5000 monthly long term care benefit, Lincoln will require premium of $224,035 and Lincoln will provide you with a 7 year benefit period. If you reduce the benefit period to only 5 years, Lincoln will still require a premium of $180,004. State Life, on the other hand, will provide you with Lifetime Unlimited benefits, and will only require premium of $151,681. So, significantly less premium for you, and Lifetime benefits. Easy choice. Buy the State Life Asset Care policy. State Life Asset Care is priced much better than Lincoln Moneyguard for applicants in their 70's. Please call me direct at (800) 891-5824 if you have questions or would like my assistance in getting you approved for your coverage. Thank you Georgia.

Tom Stephen said:

Hi Jack, I've found your website very informative! I'm interested in LTC coverage for myself. I'm male, 56, Florida resident, single, non-smoker, in excellent health. My Financial Planner recommended Lincoln Moneyguard II. The quote I received was a single premium of $118,440 for initial $6,000/month coverage, with the 3% compound interest option, and 6 year coverage period. This quote was the discounted rate due to my college Alumni association membership. However, this plan would only refund 80% of the premium if I decided to cancelled it. Are there other single premium plans that offer greater LTC benefits for a similar one time payment? I'm interested primarily in the LTC benefits coverage period and option to cancel, I don't really care about the life insurance since I don't have dependents. Your advice is greatly appreciated!

Jack Lenenberg said:

Hi Tom, Thank you for the kind words. I am pleased my website has helped you. In reviewing all of your available options, the Pacific Life Premier Advantage policy might be your best option. By the way, I hope this does not disappoint you--the premium you are offered by Lincoln is the same premium given to everybody by Lincoln. Your college alumni association membership does not save you one penny. Lincoln does not offer any discounted rates for groups or multi-life associations. I apologize if you were led to believe otherwise. Pacific Life Premier Care Advantage may be better for your needs than Lincoln Moneyguard. Pacific Life includes an immediate 100% Return of Premium if you change your mind which seems to be a concern for you. Lincoln does have a 100% Return of Premium option, but this option with Lincoln does not look very good and you have to wait 5 years to vest with Lincoln. We always will write the 80% Return of Premium option with Lincoln to maximize benefits as most people never request a Return of Premium. Your numbers will be the following: $118,440 premium
Lincoln 6 years, 3% compound, 80% Return of Premium; Pacific 8 years, 5% simple, 100% Return of Premium. Initial benefit Lincoln, $6000, $465,726 pool. Pacific $5908 monthly benefit, $666,497 pool. At Age 80 your benefit with Lincoln will be $12,197 month, $946,724 pool. Your benefit with Pacific will be $12,999 month, $1,347,176 Pool. On the front end of your claim, Lincoln has a 0 day waiting period. Pacific Life has a 90 day waiting period for facility care. So, there really are pros and cons for each policy, however possibly the 100 percent Return of Premium factor for you is important and Pacific Life will provide you with a larger pool of money on the back end should your care needs be extended past 6 years. Either policy can work fine, but for your needs will lean Pacific Life if the Return of Premium factor is critically important for you. Thank you Tom. Please call me at (800) 891-5824 if I can assist you in getting coverage.

Lauren said:

Hi Jack, We are a married couple, ages 58 and 57 (both females), looking for a joint LTC policy (traditional or hybrid with life insurance) that can be funded using 403(b) qualified funds. We would also be interested in lifetime LTC benefits, with monthly benefits around $5k. Is this possible with Lincoln Moneyguard - or is there a better product? We are also not sure if it would be better to fund such a policy with a single premium (and not sure what that cost would look like for $5k/month benefits) or 10 to 20 years of payments?

Jack Lenenberg said:

Hi Lauren, Not possible with Lincoln, the policy you need is the State Life Asset Care III policy. You can find more information about this policy within my blog. It is the only policy with Lifetime benefits, and it is the only policy accepting qualified plan rollovers.You will each obtain Lifetime $5000 monthly LTC benefits for a $60,510 rollover of 403(b) money plus a single joint premium of $32,469; or a 10 pay premium of $3716; or a 20 pay premium of $2170. Please call me at (800) 891-5824 with questions or to get approved for coverage. Thank you Lauren.

Bruce said:

Hi Jack,

Thanks for your blog, I enjoy reading it and am trying to get a better understanding of what is out there in the way of long term life insurance products! You do an excellent job of reviewing them. My wife and I live in Pa, she is 63 and I am 61. We were advised to look at the money guard II (MG II) policy for long term care protection and were both approved for consideration. For $100K each, the MG II plan would provide my wife an initial $4,426 per month for 6 years totaling $343,528 with a 3% inflation option compounded. For myself; initial year; $5,337 per month for 6 years totaling $414,282 with a 3% inflation option compounded. Our question, our there any plans single or joint out there that would compete with this? Our interest is mainly in long term care protection with a duration of 6 years to life if possible. We were quoted a rate for the state life insurance company (which offers an unlimited LTC benefit balance and a life time LTC benefit period on a joint account for both of us paying $8,973 per month for a $200,000 contract premium (without inflation rider)) for those living in NJ? Is a similar plan like this one available to us in PA or is there a similar plan that compares with this? Is it possible to use the NJ plan living in PA? Were just trying to figure out what the best options are out there for us.
Thanks again for all your insight!

Jack Lenenberg said:

Hi Bruce, Your best option will certainly be the new Minnesota Life Secure Care policy. Secure Care is an indemnity model and it offers male applicants the best inflation protection option of 5% compound. Lincoln Moneyguard is reimbursement not indemnity and it will offer you 3% compound, rather than 5% compound. At age 80, Minnesota Life will offer you $10,042 month and $819,660 indemnity benefits. Lincoln will only offer you $9359 month, and $726,446. At age 85, Minnesota Life provides $12,816 and $1,046,117. Lincoln is at $10,850 month and $842,150 pool of money. This is where the 5% compound really helps you. You should buy Minnesota Life. The numbers for your wife will be close between the two companies. Not a significant difference like yours will be. The State Life joint policy is unavailable in PA so your options are limited to individual policies. Please call me at (800) 891-5824 for customized illustrations. Thank you Bruce.

Melody said:

Thank you such an informative sight. I am a recently widowed 63 yr old woman, residing in Illinois. My adviser is recommending I use $75,000 in a recent insurance payout to purchase Pacific Life LTC. I would prefer to get a lump sum policy but would like to know all options that would be best for me. I am type 2 diabetic and overweight. Thanks.

Jack Lenenberg said:

Hi Melody, Thank you for your inquiry.
I will definitely need to speak with you to discuss your diabetes history and your build measurements. Pacific Life Premier Care is most likely the wrong policy for you. First of all, Pacific Life is priced lousy for female applicants and Pacific Life's underwriting might be unfavorable for you, as well. We should definitely speak so I can share with you the best options for your situation. To receive my assistance, please call me at (800) 891-5824. Thank you Melody.

Jack Lenenberg said:

Bob said:

Just discovered your informative site. I am 56, nonsmoker in good health in NC. My financial planner is suggesting Lincoln MoneyGuard II for LTC. Been quoted a one time premium of $78526, will get me an initial first year monthly benefit of $4500 per month, at 65 $5871 monthly benefit. LTC benefit duration of 6 years. Are there better options for me in NC? LTC insurance is all new to me. Thanks.

Jack Lenenberg said:

Hi Bob, Yes there are definitely better options than Lincoln Moneyguard for you in North Carolina. The Minnesota Life SecureCare policy will provide male applicants greater LTC benefits than Lincoln Moneyguard will. For the same premium deposit of $78,526, Minnesota Life will provide you with a $10,062 monthly benefit and an $821,290 total pool at age 80. The Lincoln Moneyguard policy will provide you with $9148 month and a $710,043 pool. At age 85, Minnesota Life is even better. Minnesota life will give you a $12,842 monthly LTC benefit with a $1,048,197 total pool vs $10,605 month and $823,125 with Lincoln. The Minnesota Life policy is also an indemnity model, rather than reimbursement, and Minnesota Life offers a 100% Return of Premium rather than 80% with Lincoln. Lincoln's only benefit over the Minnesota Life policy is Minnesota Life has a 90 calendar day elimination period before benefits begin. I would rather delay benefits for 90 days to receive the greater payout and the indemnity model, however. Indemnity benefits are much better at claim time. Please call me at (800) 891-5824 if I may assist you or answer any of your questions. Thank you Bob.

Frances said:

Hi Jack, I am reading your website with great interest! My husband (61) and I (59) are beginning to look at hybrid LTC policies, specifically the Lincoln Moneyguard II which was recommended recently by a financial advisor. We live in CT, and are both non-smokers and in good health. The hybrid policies appeal to me; after seeing both sets of our parents' experiences with traditional LTC policies, I would not get a traditional LTC policy for myself. Are there other hybrid policies you can recommend we look at? Thank you for sharing your expertise!

Jack Lenenberg said:

Hi Frances, Thank you for your positive feedback on my website. For a Connecticut couple ages 61 and 59 your best policy option will probably be the joint State Life Asset Care policy with Lifetime long term care benefits. Your 2nd best option will be the Minnesota Life SecureCare indemnity policy. The Lincoln Moneyguard II policy will probably be your 3rd best option. Should you wish to work together with myself on your plan please call me at (800) 891-5824 for customized illustrations and analysis. Thank you Frances.

TomC said:

Jack, Many thanks for your informative site on LTC. My wife and I are 63 and 60 and in good health. We are interested in coverage and trying to decide between Lincoln Moneygaurd II and State Life. I am confused about the lifetime payout for State. Does it require an annual payment to keep the lifetime benefit in addition to the initial deposit? We were thinking of either a $100 x2 for Lincoln or a joint policy with State. Do either or both of these also offer inflation protection? I think Lincoln does but not sure if there is an annual premium associated with it. Thanks in advance for any help/advice you can provide. Tom

Jack Lenenberg said:

Hi Tom,

Lincoln accepts single premium payments or flexible premium payments for up to 10 years.

State Life accepts single premium payments, payments for 10 years, payments for Lifetime. There are 2 components to the State Life policy: base policy and the LTC rider. Each component may be funded with a single payment, 10 Pay or Lifetime Pay.

The State Life policy can be designed with a limited benefit period or an Unlimited Lifetime benefit petiod rider. I generally recommend State Life Asset Care as a 2 + Lifetime design (2 years acceleration of life insurance + Lifetime LTC extension of benefits).

State Life offers inflation protection options of 2%, 3%, 4% or 5% compound protection on the LTC rider.

Lincoln offers 3% compound or 5% compound on the entire contract: acceleration of life insurance rider plus extension of LTC benefits rider. Lincoln is generally written with a 6 year benefit period (2 + 4 design) and 3% compound.

For what it is worth, if you do not opt for the joint Asset Care policy and you do opt for (2) single premium individual policies the very best individual policy option for a 63 year old male is the Minnesota Life SecureCare policy with 5% compound inflation protection.

If I can help you sort through your options please call me at (800) 891-5824.

Thank you Tom.

Lisa Kahn said:

Jack- This is a question, not a comment. Should I call you to ask about a recommendation for a long term care insurance policy for me? I am 65, in very good health, live in Virginia, and have set aside $100,000 for a single payment premium. I married late in life, and my husband already has his own LTC insurance. We may (or may not) move one day to a Continuing Care Retirement Community in another state (perhaps California), in which case I assume I would no longer need the LTC policy(?). Passing money on to heirs is not of great importance (I have no children or siblings, and my husband has more than adequate assets).

Jack Lenenberg said:

Hi Lisa, Yes, absolutely please call me directly to discuss your needs. I find phone calls to be more productive to emails. I am available in the office M-F at (800) 891-5824. I look forward to hearing from you Lisa.

Joy said:

Good morning, Jack! I just spent two hours yesterday with a NYLife agent. I went to him because of the "AARP stamp of approval!" Now that I've been reading reviews such as yours, I realize I was almost duped! I am a single, healthy, 61 (turn 62 in a week) year-old woman from the beautiful state of Vermont. I'm lean gin towards the hybrid option, and am in the process of finding out if I can do the 1035 exchange to get $100,000 for the one-time buy in. Can you please tell me the best policy for me? Is the hybrid the way to go? If so, which company/policy? Thanks so much for your informative expertise!

Jack Lenenberg said:

Hi Joy,
Yes, NY Life is an awful option for you. AARP is certainly not doing you a favor. Your best hybrid policy option will be the Minnesota Life SecureCare indemnity LTC policy. Your best traditional LTC option will be the Mass Mutual Signature Care policy. These two respective policies are absolutely priced the very best for single female applicants age 61. If you are leaning towards the hybrid policy option, the Minnesota Life policy will be a good option for you. You will want to include either the 5% compound or the 5% simple inflation protection options with Minnesota Life. This will maximize your long term care coverage once uou are in your 80’s. Please call me at (800) 891-5824 if I can provide you with customized illustrations and answer your questions. Thank you Joy.

Jane said:

Hi Jack. I am a 59-year-old single female nonsmoker in Tennessee, who has no chronic conditions. I am descended from people who lived long but needed long-term care for dementia. My dad had a great LTC policy—between it, Medicare, and his investment income, he didn’t have to dip into his savings at all. He said that was his goal—to not have to touch the legacy he wanted to leave his children. My goal is the same one. The thing is, Dad bought his policy nearly 30 years ago, from a company that has since gone under, and I’ve heard that today’s policies are not as generous as the ones that were available to Dad. Anyway, that’s two priorities—to be covered in the event of dementia requiring years of care, and yet to protect my assets. Whew! Good luck with this one, Jack!

Jack Lenenberg said:

Hi Jane,

Thank you for contacting me for long-term care insurance advice. The policies today are just as comprehensive as the policies that were sold 30 years ago. Alzheimer’s disease and dementia are mandated to be covered by every policy and there are still policies that offer Unlimited lifetime benefit periods. The only real change in the past 30 years is that the pricing of the policies have changed to account for the low interest rate environment from 2001-present, as well as to account for the fact that we now have more claims data regarding long-tail utilization so most underwriters will no longer offer the Unlimited benefit period option. Let's speak regarding your desired level of benefits. Please call me at (800 891-5824. Thank you Jane.

Would you like to work together with me on developing your plan? What is a good contact phone number for you?

Thank you Jane.

Christie said:

I am working with my insurance agent re: converting a MassMutual life insurance policy to LTC. He recommends Lincoln MoneyGuard II. I am 74 years old and in very good health. I live in Massachusetts. Your recommendations for Minnesota Life SecureCare make me wonder if this would be the better choice.

Jack Lenenberg said:

Hi Christie, Your conclusion is correct. Minnesota Life Secure Care will be a much better insurance value today for you than will be Lincoln Moneyguard II. For a 74 year old single female applicant, if you convert your MassMutual policy with a hypothetical $100,000 of cash value Minnesota Life will provide you with a $4069 monthly long term care benefit. Lincoln Moneyguard will only provide you with a $2917 monthly benefit. If you want the better long term care insurance policy for you, please call me at (800) 891-5824. Thank you.

Ric O said:

Hi Jack Just found out your site and found it very informative. We are an Ohio couple.I am 72 years old and my wife is 69 .Our adviser suggested Lincoln Money Guard II, with 50,000.000 single premium each, with surrender value of $40,000.00, $60,000.00 death benefit for first 6 years and $58,334.00 after. LTC benefit is $ 2431.00 monthly, and total benefit of $ 175.002.00. Is there a better policy that you can recommend? Another question is , can I use this service outside of the U.S?Thank you , I appreciate your help and suggestion...Ric

Jack Lenenberg said:

The joint OneAmerica/State Life Asset Care policy will be MUCH better for you than 2 individual Lincoln Moneyguard policies. With OneAmerica/State Life for a single premium of $50,000 each, $100,000 total, your wife and yourself will each receive a $3500 monthly LTC benefit per person, and Unlimited Lifetime benefit periods. This Asset Care coverage of $3500 month each, Unlimited is a significantly stronger policy value than the Lincoln Moneyguard benefit of $2431 monthly LTC benefit for only 6 years ($175,000 limit. With these policies, there are international benefits available to you. Please call me at (800) 891-5824 to discuss your needs. Thank you Ric.

Mark said:

Jack, I am comparing the One America and the Lincoln Moneyguard policies for my wife and me. I like the unlimited benefits of OneAmerica; but statistically, will either of us need more than 6 years of care. Moreover, both of us have to die before death benefits are paid. For those reasons, I am leaning toward 2 individual Moneyguard policies. Because I am older than my wife (and most likely will pass before she will) she will receive any remaining benefits from my policy. What do you think? Thanks

Jack Lenenberg said:

Hi Mark, Thank you for your inquiry. My cousin Paul needed care for 8.5 years. So, yes many people need care longer than the "average" need. I would need to know your exact ages to determine if 2 individual policies is reasonable. Generally though I find the OneAmerica joint policy is the better value than buying 2 individual policies. By the way, if you do want an individual policy your best option as a male applicant will be Minnesota Life Secure Care rather than Lincoln Moneyguard II. please call me at (800) 891-5824 for personalized advice and service. Thank you Mark.

Ron said:

Hi Jack, We are aged 66 and 64 and in good health in Oklahoma and want to compare traditional LTC and hybrid options to protect our assets. Our primary goal is to leave our spouse in good financial shape when one of us passes. Are we better off to buy individual policies or joint? Will the second one of us using the LTC have benefits reduced by whatever was paid for the first one of us? Can the second one of us using the LTC be well served by using some accelerations of benefits?

Jack Lenenberg said:

Hi Ron, The joint policy that is available (OneAmerica/State Life Asset Care ) will provide Lifetime benefit periods for each of you, so your individual benefits will not impact each other's benefits whatsoever. Comparing these options is like comparing apples and oranges somewhat, but for comparable premium the joint Asset Care policy will provide you with 30% greater benefits than Lincoln Moneyguard will offer to you; or the joint Asset Care policy will save you 30% premium, however you wish to view it. Please call me at (800) 891-5824 for customized illustrations and analysis for you. Thank you Ron.

Sodie said:

Hi Jack, Thanks for the informative questions and answers. I am a 73 year old widow, living in Florida, who is interested in buying a hybrid policy. I am in pretty good health but have had some issues like a lumpectomy six years ago for stage 1 breast cancer. Currently cancer free. I see my primary doctor regularly and have no issues at this time. My labs and blood counts are good. I take several prescriptions to control B/P, cholesterol, and iron. I am wondering first, if any of my medical information would be unacceptable for a policy? Second, what would be the best policy? I also wonder if I would be better off getting a ten year pay plan instead of making a one time deposit, or something in between? I could make a one time deposit but would have to cash in on CDS, IRAs, or securities and would rather not unless it would make a huge difference. From what I see here Asset Care underwritten by State Life Insurance might be your choice for the best. Very much appreciate your suggestions...Sodie

Nancy said:

I am 65-yr old single retired woman with children and grandchildren. I reside in California and am in good health. My financial advisor proposed a hybrid type of life plus long-term care insurance policy for me. It is the Lincoln MoneyGuard II plan with single premium $100K; minimum 6-yr LTC duration; 3% inflation protection; return of premium a flat $80K; no deductible period; etc. After reading your blog, I am just wondering if there it is the best plan for me. I wanted to check out my options. Which insurance company with good rating will offer me the most benefits for a $100,000 premium in California? Appreciate your response. Thanks Jack.

Jack Lenenberg said:

Hi Sodie, I am glad to see you are doing well, and your cancer has not recurred. We will be able to obtain coverage for you. Certainly the OneAmerica Asset Care or the Annuity Care portfolio underwritten by State Life Insurance Company will be an excellent place to begin our conversation. State Life has terrific values for applicants in their 70's. Please call me direct toll free at (800) 891-5824 to further discuss your needs. Thank you Sodie.

Jack Lenenberg said:

Hi Nancy,

In California, for single females age 65 either the OneAmerica Asset Care policy or Lincoln Moneyguard II will be your best single premium hybrid option. Please call me at (800) 891-5824 should you wish to work together on your project. Thank you Nancy.

charles said:

Jack,
I am a male 60 years of age(married) living in Pennsylvania looking for a hybrid product of LTC/life insurance. I am being directed toward the Lincoln Moneyguard II.I am looking to invest $100000.00.Is this the best product for my age or are other vendors better suited for my goals?

Jack Lenenberg, J.D. said:

Hi Charles, Lincoln will be your 3rd best individual policy option for a 60 year old male in Pennsylvania. Your best overall option will be Securian. A 100,000 deposit with Securian will provide you with $10,503 monthly at age 80; $857,274 pool of money; and 100% cash, no receipts are required to receive 100% of your maximum monthly benefit. Also, Securian will provide you with 100% of your money back if you change your mind (5 year vesting schedule). Lincoln will only provide you with $9846 month at age 80; $764,263 pool of money; Lincoln is a reimbursement policy; receipts are required to receive any of your benefits and if you change your mind you only receive 80% return of premium, not 100%. Your 2nd best option will be Pacific Life. Please call me at (800) 891-5824 for customized illustrations with all of these companies. Thank you Charles.

Paul said:

Jack,
Like many others, my financial advisor is guiding my wife and I toward the MG II policy. We are both 57, good health, living in Northern Virginia. We qualify for the Federal LTC plan, and would be willing to roll our existing life insurance into hybrid plan(s). Sounds like MGII has become less competitive, so I'd like your thoughts. We have no preconceived notions, and could put up to $200k into policies if they make sense. I would appreciate your insights.
Thanks, Paul

Jack Lenenberg said:

Hi Paul, Yes, Lincoln Moneyguard II became less competitive since May 2017. Moneyguard is still an OK option for 57 year olds if married, but Moneyguard might not be the best priced option for couples applying together. The OneAmerica joint life Asset Care policy with Lifetime LTC benefits will certainly be a different option, if not the better and less expensive option for couples. Additionally the Securian SecureCare cash indemnity policy will be worth a look if indemnity benefits are important to you. Please call me at (800) 891-5824 should you want to explore your best options together. Thank you Paul.

Faith said:

Dear Jack,
Thanks for the very helpful blog. I'm seeking a hybrid LTC/life for my 72 year old, non-smoking, widowed mother who lives in South Dakota. Her agent is also pushing her toward LM II. Is there a better option for her?
Thanks,
Faith

Jack Lenenberg said:

Hi Faith, thank you for the positive feedback. Happy to assist you. Lincoln Moneyguard pricing is absolutely not conducive to providing value to 72 year old single females. With Lincoln Moneyguard II, to buy $4500 month, 6 years, $324,000 pool of money and no inflation protection will require a premium by you of $121,836. For the same premium OneAmerica will provide your mom with 8 years of benefits through its Annuity Care II policy BUT WITH 5% compound inflation protection built-in to the 6 year LTC extension of benefits rider. The inclusion of the 5% compound inflation protection is the HUGE difference maker for your mom. With OneAmerica your mom will have $588,701 pool of money at age 82; $716,448 pool of money at age 87. Her rider benefits will be $8500 month at age 87 with OneAmerica. This pool of $600,000-$700,000 with OneAmerica is a much better long term care insurance value than Lincoln Moneyguard II's $324,000 policy will ever be for her. There are 2 more additional options in South Dakota that are better for her as well. Please call me at (800) 891-5824 to further discuss your mom's needs and to receive customized illustrations. Thank you Faith.

jim said:

Love this blog! Great, timely information. Thank you for doing this.
I am 65 male, in Texas, wife is 64..looking for LTC. Advisor is suggesting Lincoln Moneyguard II with each of each putting in $100k with 3%. That gives me $80k surrender, after 9 years, at age 73, a $6,001 monthly payout with a $465,795 total benefit. Wife, after 9 years, at 72 - a $5,458 payout with $423,850 total benefit...substantially less. I know a prior comment of yours was females don't get treated as well by LMII. These are both 6 years plans or when pot is emptied.
Are there better plans?
Also.. it seems a large risk factor is whether the company you invested with $100k or $200k will still be around when you need them. Correct?

Jack Lenenberg, J.D. said:

Hi Jim, Certainly you will have different (ok, better) options available. For the same premium, the joint OneAmerica Asset Care policy will provide you each with $8600 month LTC benefits today and Unlimited Lifetime benefit periods. That is one better option for you. Securian will give you policies that are designed like the Lincoln Moneyguard, however Securian is cash (no receipts) and Securian is 100% return of premium upon surrender. So, there are 2 better long term care insurance options for you. Regarding company solvency, Lincoln, Securian, and OneAmerica are all rated A+ (AM Best) and are stable and financially sound companies. Securian and OneAmerica are mutual companies. Lincoln is a stock company. I generally prefer mutuals. Call me at (800) 891-5824 if you have any questions, or if I can assist you to find your best options. Thank you Jim!

Pat said:

Hi,
I am a 65year old married female in good health. I am interested in purchasing LTC insurance for myself. My advisor has recommended Lincoln Money Guard. I am told that the minimum purchase price is $50,000.00. I would have to pay the $50,000. over 5 years at 10,000. a year because I do not want to take funds from my IRA. Is this the best match for me, or are their other options. Thanks for your input.

Tom T. said:

Hi Jack,

I appreciate your blog very much and I find the information you've provided to others to be very informative. My wife (62) and I (62), both non smoking, have recently went to see a few agents in our local area (New York). The recommended product was MoneyGuard Reserve from Lincoln National. The product quoted for me has a Convalescent care benefit rider and Extension of benefits rider built into the LTC. For my quote which carries a $200,000 premium, I was quoted a total long-term care benefit limit of $825,276 with Convalescent Care Benefits Rider of $275,092 with a 2 year duration and the Extension of Benefits of Rider with a benefit limit of $550,184 with a 4 year duration. For my wife's quote which carries a $100,000 premium, she was quoted a total long-term care benefit limit of $455,289 with Convalescent Care Benefits Rider of $151,763 with a 2 year duration and the Extension of Benefits of Rider with a benefit limit of $303,526 with a 4 year duration. Long term maximum monthly care benefit is $6,323 and minimum long term care duration is 6 years. With your vast knowledge of the industry, are there any better deals out there for our situation this year? Also, since there is a monthly rider charge listed on my quote, I was wondering if those monthly charges were: 1) built in to my up front cost quote, and 2) do you recommend getting those riders. I would also like to know if you have other suggestions for products that are better valued compared to the one I was quoted. Would I also get a better value if my wife and I were to purchase a joint policy in our state (NY)?

Thanks a lot, Jack!

Jack Lenenberg, J.D. said:

Hi Pat, A $50,000 premium paid in over 5 years will provide you with a monthly long term care benefit of $2705 month, and a pool of money of $194,790 through Lincoln Moneyguard II. You can currently buy these same long term care insurance benefits ($2705 month, $194,750) for $1533.10 annually. Please call me at (800) 891-5824 if I can assist you with sorting through your long term care insurance options. Thank you Pat.

Jack Lenenberg said:

Hi Tom, the State of New York is very limited with respect to approved hybrid long term care insurance policies. The monthly rider charges within the Lincoln Moneyguard Reserve illustration are the disclosures of the internal CCBR and EOBR insurance charges. These rider charges will reduce your cost basis. Regarding "better deals" in NY, you could pay $6400 year rather than a single pay premium of $300,000. With my "vast knowledge of the industry," is this annual premium a better deal for you? Yes, in NY an annual premium of $6400 year is probably a "better deal" for you than a single pay premium of $300,000. The State of NY has a state income tax credit of 20% for the purchase of traditional LTC insurance polices. So, your $6400 gross annual premium will be $5100 net annually after the state tax credit. Seems like the overall more efficient use of capital to me. Please call me at (800) 891-5824 if I can help you navigate your policy choices. Thank you Tom.

Dave Sloan said:

hi Jack...looking to purchase hybrid LTC policy with Lincoln Money Guard with 6 yr policy term. Wife is 52 and I am 53. Both in very good health and living in Iowa. Want to do a 1035 exchanges from existing universal life policies. Have looked at OneAmerica and Nationwide. Would it benefit to have Jt policy instead of singles? After reading many comments it sounds like Pacific Life or Genworth may also be an option. Could you rank these choices based on info provided?

Jack Lenenberg said:

Hi Dave, So, Lincoln, OneAmerica and Securian will be 3 policies that will be priced reasonably well for both men and women at your ages. You can add Pacific Life, but for men only to your mix. Pacific Life is not great for women. Genworth no longer has a hybrid policy. It has been 5 years since it did, so you are reading old internet news somewhere. Nationwide is non-competitive. If you are asking me to rank them, it is tricky because it really depends what is most important for you. OneAmerica offers Unlimited benefit periods. Lincoln, Pacific and Securian do not. So, if Unlimited benefits is very important for you, OneAmerica might be your answer. Securian offers 100% cash indemnity benefits. So, if 100% cash is important to you Securian might be your answer. Lincoln offers a 0 day elimination period, so if a 0 day elimination period is important for you Lincoln might be your answer. I would place more weight on either a 100% cash benefit for the utmost home care flexibility, or on the Unlimited benefit period for total asset protection, then on a 0 day EP so I would rank either OneAmerica or Securian ahead of Lincoln. Your curveball is the 1035 exchange issue with existing UL policies. With this added issue, I would need to know more about your cash value and cost basis. Using individual policies such as Securian, Lincoln and/or Pacific Life for you might be preferable to using the OneAmerica Asset Care II joint policy for 1035 money. Please call me at (800) 891-5824 to further discuss your needs. Thank you Dave.

Lou said:

Great site Jack! Looking at Moneyguard in WV. What are the requirements for reimbursement? Does the in-home care provider need to be a certified care giver or can it be an individual with no certification? Also, if the need is for nursing home care can it be a non-certified personal care home?

Jack Lenenberg said:

Hi Lou,
To receive reimbursement with Lincoln Moneyguard you will have to submit receipts for qualified long term care covered services under the contract.
Lincoln Moneyguard requires home care to be provided by and through a home care agency. If you want informal home care provided by non-certified caregivers to be covered you will need to buy a CASH INDEMNITY policy. Securian SecureCare is a very good cash indemnity policy available in WV. I am licensed in all 50 states. Please call me at (800) 891-5824 to further discuss your needs. Thank you Lou.

Bill Combs said:

Hello Jack-
My wife and I live in Minnesota. I am 59 she is 55. We are exploring LTC insurance and need some education. I like the Lincoln National Moneyguard program or something similar. Assuming we qualify is it better to do a joint policy or 2 policies? What would the best minimum purchase price be for us and how do we pay for it? Is it best to take the premium out of our retirement money and pay it all at once?
Thanks for your help.
Bill

Jack Lenenberg said:

Hi Bill, Either Lincoln Moneyguard or Securian (Minnesota Life) SecureCare will be excellent options for your ages. Securian is a cash indemnity policy, while Lincoln Moneyguard is a reimbursement policy. Pricing for your policies will be comparable. OneAmerica will offer you a joint policy. Comparing the OneAmerica joint Asset Care policy to individual policies with Lincoln and/or Securian is comparing apples and oranges. OneAmerica offers lifetime LTC benefits rather than 6 year benefit periods available through Lincoln and/or Securian. So, many of my couples clients applying for policies elect the OneAmerica joint policy not necessarily because it is a joint policy per se (although joint policies will be less expensive) but because it is offering each of them Lifetime coverage rather than 6 years. Regarding using retirement money to fund the plan, you could consider the Asset Care III policy that will allow you to do direct rollovers to fund the life insurance policy through distributions over 20 years. This will be preferable for you than taking 100% of your premium immediately from your retirement plan and subsequently being taxed all at once. I would never recommend for you to do this. Please call me at (800) 891-5824 with any questions or for direct assistance in finding your best options. Thank you Bill.

Kawser Chowdhury said:

Hi Jack:
I live in Maryland and I'm 65 and my husband is 62. My financial planner told me that I should have Lincoln MoneyGuard - Inflation adjusted. Do my husband and I have to have two sperate long term care policy or could we have one policy? Which policy will be the best for us? If I pay $100,000, how many years it will cover my LTC? What happens after once all the money is spent?

If I was younger, would the years of benefit and amount change?

Jack Lenenberg said:

Hi Kawser, Lincoln Moneyguard is two separate policies with separate premiums. OneAmerica and National Guardian Life are 2 alternative companies that offer joint policies. Lincoln Moneyguard is best designed at your ages with 6 year benefit period limits. Once all of your LTC benefits with Moneyguard is spent, you will have no more LTC insurance coverage. If you want Unlimited Lifetime LTC coverage you will need to look into OneAmerica Asset Care or National Guardian Life EssentialLTC. Lincoln Moneyguard would be the same design even if you were younger. Please call me at (800) 891-5824 with any questions. Thank you Kawser.

Jui Chow said:

Hello, I'm 65 and my husband is 62 and we live in Maryland. We need some long-term care policy. What would you suggest?

Jack Lenenberg said:

Hi Jui, For hybrid policies in Maryland, Lincoln Moneyguard, Securian SecureCare, Nationwide CareMatters II and OneAmerica Asset Care can all be properly considered. Securian SecureCare might be the best overall single pay hybrid policy right now. Securian is 100% cash indemnity and 100% vested return of premium. Securian will have stronger benefits than Lincoln Moneyguard, and similar pricing with Lincoln Moneyguard for your ages. A lot depends upon your preferred funding design though. In Maryland there are 2 very good traditional LTC insurance policies available through either Mutual of Omaha or National Guardian Life. These two traditional policies will offer you the very best pricing by far should you want to buy a traditional stand alone LTC policy. Mutual of Omaha is the better contract of the two. Please call me at (800) 891-5824 if you want to review all of your options together. Thank you Jui.

Crystal said:

Hi Jack,
I live in CA and I am 46 yrs old. My husband, Tim, is 57. We have Genworth LTC now and because of the headache to get claims paid with TA LTC for my mother, I am considering other options. Should I continue my husband's Genworth policy or look at something else like MoneyGuard. If I cancel my Genworth policy, what happens? Can it be transferred over via 1035 to another company?

Jack Lenenberg, J.D. said:

Hi Crystal, I am sorry you are having issues with your mother's Transamerica long term care insurance policy. It is generally not in your best interest to ever replace a long term care insurance policy. Regarding moving from Genworth to Lincoln, I would need more information regarding your Genworth benefits and premiums to properly advise you. Traditional LTC policies do not have any cash value to 1035 exchange. Genworth predominantly underwrote traditional LTC policies. For a few years Genworth did have a hybrid policy called Total Living Coverage. You could 1035 exchange your cash value of that policy to Moneyguard, however you would never want to do so. The old Genworth Total Living Coverage hybrid policy was priced much less expensively than hybrid policies today are priced. Call me at (800) 891-5824 to review your in-force policies. I will properly advise you as to your best options. Thank you Crystal.

Warren Kitts said:

Jack,
My wife (58) and I (60) live in Virginia, our only health concerns are my cholesterol which I tack medications for. I like the idea of a hybrid LTC account and think could swing 150K for a joint plan? Is this enough and would you recommend a joint plan over two separate plans?

Thanks and really appreciate your website and your answers to the wide variety of questions over the years!
Warren

Jack Lenenberg said:

Hi Warren, I am pleased you find my website to be helpful. A joint deposit of $150,000 or $75,000 each individually) at your ages can provide you with benefits of approximately $4000 per month per person with 3% compound inflation protection; or approximately $6000 month each without inflation. $150,000 premium is enough if your objective is to buy $4000 month with 3% inflation protection; or $6000 month without inflation protection. If you feel you need more coverage, then you need more premium. The joint policy is offered through OneAmerica. It is not the joint life structure that is important with this OneAmerica hybrid policy. The important consideration is the OneAmerica Asset Care policy offers you each Lifetime Unlimited LTC benefits. If you feel limited benefit periods of 5 - 7 years is enough coverage then the individual policies offered through Nationwide, Securian, Lincoln, and Pacific Life can be fine. Nationwide and Securian will be excellent individual limited benefit policies for you to consider today. The Nationwide and Securian policies are both 100% cash indemnity policies, and both are priced well for single pay options. If I may assist you, please call me at (800) 8901-5824. Thank you Warren.