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HomeLife InsuranceMagic Johnson's Agency Powers New Lengthy-Time period Care Effort

Magic Johnson’s Agency Powers New Lengthy-Time period Care Effort

The present model is out there solely to particular person purchasers, to not {couples} or different joint homeowners. It presents an index menu that features crediting-rate methods such because the S&P 500 index and the Barclays Focus50 index.

EquiTrust is promoting the contract by means of brokers and brokers, using a guaranteed-issue course of that requires the consumer to undergo a video interview with an underwriter. Purchasers who’re already residing in a nursing house can purchase the contract.

The minimal assured contract worth is 87.5% of the premium, minus withdrawals and month-to-month long-term care rider expenses.

EquiTrust is supporting the Bridge program with a microsite that features a web based product efficiency illustration system.

The Assured Allies NeverStop crew says it is going to examine in on insureds at the least as soon as each two years, however insureds who wish to take part in wellness actions can contact their wellness coaches as usually as they need.

The LTC rider pays advantages when a consumer is unable to carry out two of six actions of each day residing for at the least 90 days or suffers from extreme cognitive impairment.

The Future

Larry Nisenson, Assured Allies’ chief progress officer, stated in an interview that the corporate hopes to license the NeverStop program to extra insurers.

Funding companies wish to keep away from the sorts of issues which have confronted the standard stand-alone long-term care insurance coverage market, however they’re keenly conscious of the necessity for LTC options and all in favour of backing companies with potential options, Nisenson stated.

Pictured: Earvin “Magic” Johnson. (Picture: Jonathan Alcorn/Bloomberg)


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