A Linked Benefits policy is a unique life insurance or annuity policy that allows you to protect your assets from a potential long term care (LTC) event and still leave a legacy to your loved ones without having to purchase two separate policies.

By paying an initial lump sum premium, you immediately create a death benefit for your beneficiaries and a pool of money to pay for covered long term care needs.

A base product such as life insurance or an annuity with a “rider” that provides long term care benefits if needed. This provides multiple benefits, paying out the first benefit, as needed. If you need long-term care, income tax-free reimbursements are available for qualified long-term care expenses. 

 Linked Benefits policy provides you with:

• A guaranteed death benefit that is generally income tax free – your beneficiaries will receive a death benefit even if you don’t use your LTC benefits or use some or all of it.  
• Value for your money – typically, your death and LTC benefits are significantly greater than your initial premium.
• Flexibility – no matter what happens in your life, you will have a guaranteed level of benefits.

If you are between ages 55 and 75 with investable assets (money that you won’t necessarily need to fund your retirement) and you want to insure against a time that might require temporary or permanent long-term care, then you should consider a Linked Benefit, especially with the potential for tax savings.

Still have questions? Give us a call and let's discuss your options.