Genworth offers a hybrid/single premium long-term care insurance policy called Total Living Coverage (TLC), this product offers a different approach on retirement planning with combining a universal life insurance policy with long-term care insurance benefits. It offers "1 Smart Move, 3 Distinct Options" -
-Care if Covered - on average 6 times the premiums. If you have a LTC event, Total Living Coverage leverages the initial premium to pay for the expenses.
-Life is Covered - on average 2 times the premiums. If you don't need LTC benefits, Total Living Coverage pays an income tax-free death benefit to the beneficiary.
-Decisions are Covered - no regrets! If you change your mind and do not want the policy before the 15the 15th year is up, you will back at least your initial premium (less any benefits paid).
You might be wondering if a Hybrid long-term care insurance policy is for you. The typical buyer is retired or close to retirement, having assets more than $300,000 and they are self insuring the risk of needing long-term care. TLC will help cover long-term care benefits, help protect beneficiaries with an income tax-free benefit and it will free up assets. Coverage is customizable and provides certain guarantees! To learn more about Genworth single premium TLC visit www.ltcinsurancethatmatters.com.