Looking for tax qualified LTCI with cash surrender ROP or ROP pre-death

[Daniel85]

I am looking for a tax qualified LTCI with a return of premium with an option to have premiums returned (or some percent of premiums) prior to death of the insurer. It could be a cash surrender.

 

[ltcadviser]

National Guardian Life.

 

[Daniel85]

Tried NGL, but need for under 40 husband/wife and they only offer 40 and up.

Are you aware of any others?

 

[ltcadviser]

No one else. Does your client live in Seattle?

 

[Daniel85]

IL

 

[DHK]

Why not an asset-based LTC policy?

MassMutual's Care Choice One:
https://fieldnet.massmutual.com/public/life/pdfs/icc14li9029.pdf

OneAmerica has a similar policy and I'm sure there are others.

 

[ltcadviser]

Care Choice One is terrible; and is single premium only.

Asset Care needs joint issue age to be 35 and over.

 

[ltcadviser]

IL

Okay, I received your same question on Friday afternoon from a Seattle LTC broker for a 32 year old.

 

[Daniel85]

It needs it to be a tax qualified LTC. It looks like Assurity and Guardian used to offer a product that had something like an 80% premium reimbursement after 5 years, but I can't find any other insurers that still offer a similar product except NGL which only allows for 40+

 

[ltcadviser]

I can't find any other insurers that still offer a similar product except NGL which only allows for 40+

And you won’t.