1. Critical Illness - Return of Premiums
If a policy owner with a Critical Illness contract in force (Assurity or Mutual of Omaha) - the company will refund 100% of the premium paid by the client - less any benefits paid.
If a policy owner with a Critical Illness contract in force (Assurity or Mutual of Omaha) - the company will refund 100% of the premium paid by the client - less any benefits paid.
2. COLA - it isn't the same for every carrier.
Some carriers are simple, some are compound. Some are a flat rate, some are geared to the CPI. For young clients - it is good to know what you are receiving.
Some carriers are simple, some are compound. Some are a flat rate, some are geared to the CPI. For young clients - it is good to know what you are receiving.
3. Prudential LTC - they actually have 3 different kinds of products under one policy chassis.
.Reimbursement, partial cash and full cash. Let us get you runs on all 3 for and we will let you know the why's and wherefore's of the premiums differences.
.Reimbursement, partial cash and full cash. Let us get you runs on all 3 for and we will let you know the why's and wherefore's of the premiums differences.
4. Guaranteed Renewable vs Non-Cancelable. Do you know the difference?
Guaranteed Renewable says that as long as you pay the 'billed' premium - there is coverage. The company does have the ability to increase premiums. However, they have to prove to their state commissioner that they had an unprecedented amount of claims that the didn't expect. Plus they have to do so on a whole class of clients. Non-Cancelable - says that the company cannot increase premiums.
Guaranteed Renewable says that as long as you pay the 'billed' premium - there is coverage. The company does have the ability to increase premiums. However, they have to prove to their state commissioner that they had an unprecedented amount of claims that the didn't expect. Plus they have to do so on a whole class of clients. Non-Cancelable - says that the company cannot increase premiums.
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