My employer is offering a novel (to me) product as a benefit which has both long term care benefits as well as universal insurance bundled in one product. It's offered as one time special enrollment. For ~15$/month premium I can have 10K in death benefits and 400$ / month LTC benefit upto 50 months. At the high end with ~189$/month premium it will provide 200K in death benefits and 8000$/month LTC benefit upto 50 months. There are more rate slabs available in increment of 25K death benefit. Death benefits are restored as LTC is paid out implying I will have both. Also, its portable so I can have it even if I leave my employer.
I am in CA and ~41 years of age. I currently have group life insurance from employer but has no other life insurance or LTC insurance. I definitely need some LTC benefits and I would like to have some life insurance as well since I am high earner in our household with 2 kids (7 years and 2 years). But, I am struggling to evaluate this offer? How shall I think about whether its a good deal.
I am in CA and ~41 years of age. I currently have group life insurance from employer but has no other life insurance or LTC insurance. I definitely need some LTC benefits and I would like to have some life insurance as well since I am high earner in our household with 2 kids (7 years and 2 years). But, I am struggling to evaluate this offer? How shall I think about whether its a good deal.
Statistics: Posted by Boogiebogle — Mon Mar 25, 2024 10:08 pm — Replies 0 — Views 13