Life insurance with long-term care (LTC) benefits provides a solution that appeals to generations. It’s increasingly popular because it can adapt to the different priorities and needs of employees at various life stages. This product is a multi-generational offering for benefits brokers that fits a wide range of client demographics.
Ages 18-29: Securing Future Protection Early
According to our data, 25% of Life with LTC policyholders are between 18 and 29 years old. For younger employees, Life with LTC offers an opportunity to secure low premium rates while preparing for the future. Though they may not immediately need long-term care, these policies accumulate cash value over time, providing a financial safety net that can be accessed in emergencies. Brokers can highlight the affordability and foresight of purchasing early, making it a smart choice for young professionals looking to balance current budgets with future security.
Ages 30-39: Growing Financial Security
This age group comprises the largest share of Life with LTC policyholders, accounting for 26% of purchases. These individuals often focus on building family security while continuing their financial growth. Life with LTC provides both long-term care benefits and accumulated cash value, which can be an accessible resource for unexpected needs. It’s a flexible solution that brokers can present as a dual-purpose product, addressing both current financial goals and future security.
Ages 40-49: Planning for Retirement and Family Security
As employees in their 40s begin to plan for retirement, 24% find Life with LTC to be an essential tool. It allows them to lock in lower premiums now while still providing long-term care coverage and life insurance benefits. Brokers can emphasize how these policies help secure financial protection for both family members and retirement years. With the added benefit of accumulating cash value, it’s a versatile solution that prepares policyholders for future healthcare needs and family protection.
Ages 50+: Preparing for Long-Term Care and Ensuring Acceptance
Employees over 50 make up 25% of Life with LTC purchases. For this group, long-term care becomes a critical concern. With 70% of individuals over 65 expected to need long-term care at some point, Life with LTC offers a necessary layer of protection. These policies provide life insurance payout or long-term care benefits, ensuring value regardless of circumstances. Additionally, guaranteed acceptance is crucial for those with pre-existing health conditions, giving them the peace of mind that traditional LTC insurance may not offer.
Conclusion: A Comprehensive Benefit for All Ages
The appeal of Life Insurance with Long-Term Care benefits spans generations, providing financial protection and flexibility no matter an employee’s age. Whether it’s about securing low premiums early in life or planning for long-term care in later years, this hybrid solution offers peace of mind for employees and their families. As a broker, introducing Life with LTC to your clients can help them provide a valuable, multi-generational benefit that stands out in today’s competitive market.
For more information about incorporating Life with LTC into your clients’ benefits packages, visit The VB Shop.