Lincoln vs. Genworth Long Term Care
Help! I'm a fairly new Jones FA, just starting my second year. I haven't yet sold a LTC product. I'm a little exhausted with all of the insurance options, and each wholesaler promising me that their product is the best. Does anyone have a preference between the Genworth TLC product and the Lincoln Moneyguard for the LTC with the life insurance option? I live in a (really) remote area, so no wholesalers are going to visit me or be there with me for a client appointment. If I'm lucky they will be available over the phone when I have client appointments until I get confident enough to sell on my own.
I am actually shopping for LTC for myself. I didnt look at the Moneyguard product that closely, but i have looked at Genworth as well as John Hanc***,. I like the Genworth Privileged Choice. Its competitively priced and a big feature is no elimination period for Home Health Care
Yes, I like Genworth traditional LTC as well. It's the TLC (Total Living Coverage) product that I'm comparing with Lincoln. The much bigger one-time up front payment that leverages both LTC and life insurance. It seems like Genworth has a bigger benefit, but Lincoln is "guaranteed" and wholesaler says it has much better application process, which is appealing.
I use Moneyguard in single pay situations, otherwise I use Hartford Guaranteed UL with LifeAccess rider. It's an easy sell.
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