MoneyGuard Single Premium Long Term Care Insurance Policy

Combo life/long term care insurance products and sometimes called “asset-based” or “linked benefit.” MoneyGuard, by Lincoln Financial, is a very popular policy, and we think it can be a great way to buy long term care insurance.

Why do so many people like MoneyGuard? Well, with traditional long term care insurance, if you don’t ever have a claim, or if you do have a claim that doesn’t use up all your benefit, you may think that you “wasted” your premium dollars. That won’t happen with MoneyGuard. Since it’s a combination of long term care and life insurance, if you die without ever needing long term care, your policy pays out a benefit to your beneficiary which far exceeds the premium that you paid in (depending on your age, health, and design of your policy, this number can vary. A typical death benefit may be $200,000 for a $100,000 premium.)

Another reason people like MoneyGuard is its money back guarantee. After you purchase the contract, if you decide down the road that, for whatever reason, you don’t want the coverage anymore, you can cancel the policy and get back all your premium (less any claims paid to you). That peace of mind is worth a lot.

Yet another reason that many people like MoneyGuard is that it protects you from future possible long term care insurance rate increases. By looking at the guaranteed values in your contract, you can see what is guaranteed for the rest of your life, even if interest rates dive and long term care insurers have bad claims experience.

Request a quote today to see if MoneyGuard makes sense for you!