Anyone taking a look at this new product yet? Or used to do it all? Seems very promising, in that the premium is always guaranteed. It is a hybrid with options for inflation and unlimited benefit. Also, if long-term care is never needed, the principle is still there. At first glance,looks good
Haven't used it since it isn't in CA (or NY/NJ) yet but I did have a conversation with one of their wholesalers about it yesterday. I agree that at first glance it looks pretty good....then again, they have a number of strong products.
- 10,634
What are the Caps/Spreads/Participation rates like on this product?
I took a look at it and thought it was god awful. Caps and participation rates were so low there is just zero opportunity for any growth. Will stick with Asset Care.
They're trying to grab existing assets from non-qual variable/indexed products as opposed to making it an initial purchase sale. I agree...the rates are not attractive. Their cash funds on Annuity Care will probably do as well as their indexed options.
My opinion is that they are trying to "keep up with the Joneses" with this product. I still think that it offers some value if you're transferring a NQ annuity with a minimal basis.
- 10,634
Im trying to like Asset Care enough to sell it. But just like MG it is basically putting your cash to sleep if you want accumulation along with LTC benefits. So I was hoping the indexed option would be more attractive.
If the new indexed product is no better than the old, then MM 10 Pay w/LTCR still takes the top spot for LTC & Asset growth. State Life has a lower premium... but MM actually gives you gains in your CV after 15 years... plus inflation protection on your LTC benefit.
If the new indexed product is no better than the old, then MM 10 Pay w/LTCR still takes the top spot for LTC & Asset growth. State Life has a lower premium... but MM actually gives you gains in your CV after 15 years... plus inflation protection on your LTC benefit.
Buyers of hybrid LTC policies do not care about growth of an asset. The focus is in maximizing LTC coverage through an asset that is not needed for income or growth. Asset Care does this well. MM does not.
- 10,634
Jack, you are discounting the amount of people that would rather have cash value growth of that asset over no growth.
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