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Life Health > Health Insurance > Health Insurance

LTCI coverage offered in stages

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Consumers want choice, whether they are shopping for televisions, automobiles or long term care insurance. MetLife has come up with an LTCI product that gives consumers the choice of two plans. Custom Advantage is for individuals getting ready to retire or already retired. Simple Advantage is for people in their 40s and 50s.

Custom Advantage, the company says, provides a choice between several benefit increase options, including a range of inflation options. Such choices make the product affordable for consumers with varying income streams.

“It is for people in their 50s and 60s who are preparing to retire from their current job after a successful career and are looking to stay active,” says Jodi Anatole, vice president of product development and marketing for long term care, “but want the peace of mind knowing their retirement
savings and income are protected should they suddenly need long term care.”

Simple Advantage is aimed at boomers who have competing demands for their cash. They can get started with an affordable level of coverage now, and they have the ability to double their coverage up to age 65 with guaranteed insurability.

Both plans offer a return-of-premium feature if the policyholder dies before age 70 and include a calendar-day waiting period. In addition, MetLife’s Care Coordination service comes with the plans, assistance that can guide families through the long term care process.

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