Protective’s $8,500 per month maximum accelerated benefit is better than most carriers, but a few competing plans are based on percentage of the policy benefit which allows a higher acceleration. ![]() Maximum is $8,500 per month, and the benefit can be 100% of the policy value. ![]() Payouts with Protective’s plan are an indemnity payment method, full direct benefit payments, which is much preferable over the reimbursement method, repayment of bills or receipts. It’s there just in case, and if not needed or if only some benefits are needed, the remaining death benefit goes to the beneficiaries. This LTC type benefit is a very valuable added plus to include in a life policy. This allows the life insurance benefit to accelerate out when the insured is certified by a licensed health care practioner as chronically ill, meaning unable to perform two out six activities of daily living or severe cognitive impairment. ![]() Protective Life has a long term care services rider available on their universal life insurance product “Centennial G II”.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |