A life insurance policy protects your client’s loved ones when they pass away — but what if the unexpected happens while they’re living? Learn how our blended solution provides death benefit protection and cash value potential and can help cover the costs of chronic illness care during their lifetime.
Meet multiple needs with one solution
Some clients need more from their life insurance policy than death benefit protection. Protective Indexed Choice℠ UL offers a guaranteed death benefit, plus index-linked cash value growth potential and a 0% floor that helps protect against market loss. Adding the ExtendCare℠ rider allows clients to accelerate part of their death benefit for chronic illness care, covering a critical need in many financial plans.
How it works for John, age 55
The scenario: John needs long-term death benefit protection and is interested in the flexible features a permanent life insurance solution can provide. He’s comfortable with a moderate amount of risk for the benefit of cash value growth potential.
The challenge: John is overlooking the impact of unexpected expenses from a chronic illness on his financial plan. He shares with his financial professional that he thinks Medicare or Medicaid will cover his future needs. In reality, he may have to pay the costs himself if he develops a chronic illness.
The solution: John’s financial professional suggests purchasing a Protective Indexed Choice UL policy with the ExtendCare rider. Together, they explore how a blended solution compares to a standalone policy.
Assumes male, age 55, standard, $2,000,000 death benefit, premium solve for lapse protection to age 90, paying to age 100, max. illustrated rate of 5.79%.
What makes this solution different: Protective Indexed Choice UL with ExtendCare helps John meet two protection needs — a death benefit and chronic illness coverage — in one solution. If John develops a chronic illness, he can accelerate his death benefit in monthly payments for care and any unused death benefit will pass to his loved ones. The policy’s cash value potential gives him added flexibility while the 0% floor delivers downside protection that aligns with his moderate risk profile.
Consider a blended solution for permanent protection with chronic illness coverage
When your clients are looking for flexibility and more permanent protection, consider a blended solution using Protective Indexed Choice UL and the ExtendCare rider. This powerful combination provides death benefit protection and cash value growth potential and can help ease the costs of a chronic illness. Explore our product page and contact your Protective® representative for more information.
We’re here for you
Protective Indexed Choice UL (UL-27) is a flexible premium universal life insurance policy issued by PLICO and PLAIC. Policy form numbers, product features and availability may vary by state. Consult policies for benefits, riders, limitations and exclusions. Subject to underwriting. Up to a two-year contestable and suicide period. Benefits adjusted for misstatements of age or sex.
Protective Indexed Choice UL is not a security investment and is not an investment in the market. Clients should be provided with costs and complete details about the terms, conditions, limitations or exclusions that apply to this policy.
The tax treatment of life insurance is subject to change. Neither Protective nor its representatives offer legal or tax advice. Consumers should consult with their legal or tax advisor regarding their individual situation before making any tax-related decisions. All payments and all guarantees are subject to the claims-paying ability of the issuing company.
ExtendCare falls under IRC Sec.101(g) Accelerated Death Benefit guidelines and does not fall under health regulations. This differentiation could affect eligibility for public assistance programs such as Medicaid, Supplemental Income or others. Purchasers should consult a qualified advisor along with legal or tax advisor to determine if the rider will affect their initial or continued eligibility for public assistance programs or other tax-related decisions.
ExtendCare (ICC16-L638/L638 12-16) is issued by PLICO. Subject to underwriting and up to a two-year contestable and suicide period. Benefits adjusted for misstatements of age or sex. Consult policy for benefits, riders, limitations and exclusions. Policy form numbers, product features and availability may vary by state.
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