Lincoln Financial Group’s MoneyGuard® III allows consumers greater flexibility in coverage and planning as well as new benefit options.
“Studies show that nearly half of consumers turning 65 will need some type of long-term care in the future1 and
Building on the popular flexible payment options available with previous generations of MoneyGuard solutions, the newest product offers the opportunity to spread payments out over a longer period, potentially up to attained age 70, allowing clients to select premium payments that fit their needs and financial circumstances.
Long-term Care Planning Flexibility
MoneyGuard® III features several new benefits, bringing the total to 12 covered services to provide clients with more options and greater opportunities to customize their long-term care plans. The new benefits include:
- Transitional Care Assistance (TCA) Benefit: long-term care typically begins with family members and friends providing informal care, before care needs progress to a state where professional services are necessary. To help with this transition, the TCA benefit can be used during the first year of claim to pay those providing informal care
$100per day for up to 180 days, an important benefit when considering that family members and friends often take time out of work to care for loved ones as they age.
- Terminal Illness Rider provides for an acceleration of benefits if the insured becomes terminally ill, helping a client get care when they need it. The rider provides for a one-time claim for 25%-75% of the insured amount, up to
In addition to new features, MoneyGuard® III offers enhanced return of premium options for clients. If a client’s situation changes, they are eligible for return of premium from the time of first premium payment.
“Enhancements available through
Policyholders also have access to Lincoln Concierge Care Coordination, a suite of tools and resources to proactively help clients and their families plan for formal and informal care options and to coordinate the type of care needed, to ensure all their wishes are met.
The insurance policy and riders have limitations, exclusions and reductions. Long-term care benefit riders may not cover all costs associated with long-term care costs incurred by the insured during the coverage period. All contract provisions, including limitations and exclusions, should be carefully reviewed by the owner. For costs and complete coverage details, contact your agent or producer.
All guarantees and benefits of the insurance policy are subject to the claims-paying ability of the issuing insurance company. They are not backed by the broker-dealer and/or insurance agency selling the policy or any affiliates of those entities other than the issuing company affiliates, and none makes any representations or guarantees regarding the claims-paying ability of the issuer. Product not available in
Department of Health and Human Services, Long-Term Services and Supports for Older Americans: Risk and Financing, February 2016