Genworth’s Total Living Coverage Plan
Designed to be there when needed
12-04-2009
Total Living Coverage (TLC) is a fresh approach to retirement planning. Linking universal life insurance and long term care insurance into one product, TLC provides a pool of benefit dollars for covered long term care expenses, a death benefit for beneficiaries, or both. Because TLC is universal life insurance, TLC’s policy values grow income tax-deferred at current interest rates. Like long term care insurance, TLC can provide a monthly long term care benefit. And even if the entire death benefit amount is used for covered long term care expenses, a Residual Death Benefit is available.
Who buys TLC?
The typical TLC buyer is retired or close to retirement, recognizes the need to have a financial plan for retirement and understands that protection against long term care expenses should be part of the strategy. Most have invested assets of more than $300,000 and are self-insuring the risk of needing long term care. They know the probability of needing long term care is high but not exactly how much it could cost, so they consider an asset-based solution like TLC an attractive alternative.
Total Living Coverage can help your clients maintain control of assets, protect beneficiaries and have access to long term care benefits if needed.
TLC coverage is customizable and can provide certain guarantees. Clients can match their TLC coverage to their needs using a range of benefit amounts and periods as well as optional inflation coverage. An optional return of premium benefit is also available.
To help you understand, present and sell TLC, BUA in conjunction with Genworth has prepared the following two online training programs. These sales focused programs (about 6 minutes all together) will help you position TLC and help explain the Guaranteed Minimum Benefit Rider, and industry leading guarantees.
CLICK HERE to learn more about TLC’s quote, starting with which pages to present first.
CLICK HERE to learn how to promote the enhancements to the Guaranteed Minimum Benefit Rider that provides TLC with the industry leading guarantees.
Additionally, the BUA Sales staff is always available to prospective clients, plan design and how Genworth’s TLC can fit into your client’s retirement program.
Guaranteed Minimum Benefit Rider and TLC are not available in all states. Please contact BUA for more information.
