Transamerica has received approval for their Long Term Care rider in Connecticut. They are now able to offer the Trans ACE GUL “Guaranteed Universal Life” product with a long term care rider in Connecticut. Other companies have been able to get approvals for life/LTC combo plans in CT but they are always single deposit products or limited deposit. The Trans ACE is a true GUL policy that can be paid monthly like any other permanent life policy. Adding the LTC rider will increase the premium but the overall rider cost is much less than the cost of buying a stand alone Long Term Care Plan. Highlights and unique features….
- Any money not used as long term care is paid out to beneficiaries at death via the plans GUL death benefit.
- The cost of the Long Term Care rider is substantially lower than buying a stand alone LTC plan.
- If the Long Term Care is never used, the GUL will still pay the full death benefit upon death.
- The plan comes with a return of premium feature which returns 100% of paid premiums. The premium can be taken back in year 15, 20 and any year after 25.
- Premiums for the policy (GUL and LTC rider) can be paid monthly.
Click the links below for product summaries
If you are a broker that would like to offer this product to your clients, you may email Ed Crowe at Edward@Croweandassociates.com or call at 203-796-5403