Life Insurance & Long-Term Care

Protecting loved ones financially when an employee passes is very valuable.  But it is also very important for an employee not to be a financial burden when they are living.

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Life Insurance

Options for an employee include a level rate term policy to age 100, Whole life and Universal Life.  Most plans have a guaranteed issue amount with no blood or urine or paramed exam needed. Insurance for family members with the same underwriting is available.

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Long-Term Care (LTC)

A Long-Term Care rider on a life policy will pay 4 to 6% of the face value of the life insurance toward monthly care if 2 ADL's are missing.   Some plans will keep the life insurance face value intact at the same time.

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States Requiring LTC

States are starting to impose a payroll tax for not offering Long Term Care insurance.  Keep an eye out for this legislation and let's get ahead of the game.