BUYER EXAMPLE PAGE TEMPLATE
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Example:
Should a married couple ages 58 and 60 buy long-term-care insurance?
This hypothetical example shows how one household might evaluate the decision.
It is not a recommendation, quote, guarantee of eligibility, or prediction of future care needs.
THE HOUSEHOLD
- Ages:
- State:
- Marital status:
- Approximate investable assets:
- Annual or retirement income:
- Existing insurance:
- General health:
- Family circumstances:
WHAT THEY ARE CONCERNED ABOUT
Write two or three paragraphs describing:
- What event they fear
- What would be financially disruptive
- Whether family caregiving is available
- Whether preserving assets is the primary concern
- What prompted them to consider insurance now
WHAT THEY CAN REASONABLY SELF-FUND
Explain:
- Which expenses they could absorb
- How much they are comfortable using
- Whether they could pay for the first years of care
- Whether the healthy spouse creates a special concern
- What part of the risk remains unacceptable
THE AMOUNT OF RISK THEY WANT TO TRANSFER
State the decision in plain language.
Example:
The couple is not trying to insure every possible dollar of care. They want enough coverage to materially reduce the financial effect of a prolonged event while retaining responsibility for moderate expenses.
APPROACH 1: TRADITIONAL LTC INSURANCE
Include:
- Monthly benefit
- Benefit period or pool
- Inflation protection
- Elimination period
- Shared benefits, if applicable
- Current dated premium
- Whether premiums are guaranteed
- Principal advantages
- Principal limitations
APPROACH 2: HYBRID LIFE/LTC INSURANCE
Include:
- Premium structure
- LTC benefit
- Benefit duration or pool
- Death benefit
- Cash indemnity or reimbursement
- Residual value
- Guarantees
- Principal advantages
- Principal limitations
APPROACH 3: RETAIN THE RISK
Explain:
- How much capital may need to remain available
- What the household would do if care occurs
- How the healthy spouse would be protected
- What assets could be used
- Why self-funding may still be reasonable
SIDE-BY-SIDE SUMMARY
| Consideration | Traditional LTC | Hybrid LTC | Self-funding |
|---|---|---|---|
| Initial financial commitment | [ ] | [ ] | [ ] |
| Premium certainty | [ ] | [ ] | Not applicable |
| Care benefit | [ ] | [ ] | Based on available assets |
| Residual value if unused | [ ] | [ ] | Assets remain |
| Liquidity | [ ] | [ ] | [ ] |
| Medical underwriting | [ ] | [ ] | None |
| Main advantage | [ ] | [ ] | [ ] |
| Main compromise | [ ] | [ ] | [ ] |
A REASONABLE CONCLUSION
Do not declare one option universally best.
Explain why the hypothetical buyer might select one approach based on the stated objective.
Example:
The couple may reasonably choose traditional LTC insurance because their principal objective is maximizing care protection for an affordable annual premium. They accept that premiums could increase and that no direct benefit may be paid if care is never needed.
Or:
The couple may prefer a hybrid policy because premium certainty and residual death benefit matter more to them than maximizing the amount of care benefit per dollar committed.
Or:
The couple may reasonably retain the risk because the available policies do not provide enough value relative to their liquidity and ability to self-fund.
DISCLOSURE
This is a hypothetical educational example.
Premiums, benefits, products, insurer availability, underwriting outcomes, and tax treatment vary by state, company, policy, and applicant.
Illustrated pricing should include an “as of” date and should not be treated as an offer of coverage.
EXAMPLE PAGE CTA
See what the decision could look like for you.
Your situation may differ materially from this example.
A useful comparison begins with your age, state, health, financial circumstances, and what you want insurance to accomplish.
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