Lincoln MoneyGuard III Hybrid Long Term Care Insurance

Lincoln Financial offers the newest generation of their Hybrid Long Term Care Insurance product known as Lincoln MoneyGuard III. The product is offered in most 47 states with the last three States launching most recently.

Lincoln MoneyGuard III Hybrid Long Term Care Insurance product offers a monthly benefit for home health care, assisted living facility, adult day care or nursing home care. Given that care is not needed, the plan will then pay a tax free life insurance benefit to the beneficiary at death. This benefit is equal to about 20% more than what you put in.

This plan is the only Hybrid Long Term Care Insurance policy on the market with no elimination period or waiting period. You should note however, that Lincoln will give you less long term care benefits for the premium dollar put in in most cases.

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A few of the other highlights of the Lincoln MoneyGuard III are:

Home Health Care:

If you elect to receive in home care and assistance Lincoln MoneyGuard III product will cover the cost of care.

Transitional Care:

You are able to access funds in order to transition from informal to formal care.

Assisted Living

Clients may also utilize their Lincoln Money Guard III for assisted living care.

Caregiver training and care planning services:

Lincoln Money Guard III will pay for individuals such as friends, family, or whoever you elect tp plan for your care.

Nursing Home Care:

Lincoln Money Guard III will cover the costs of nursing home care if needed.

Fixed Premiums

With Lincoln Money Guard III your premiums are fixed and guaranteed to stay the same. This policy will reimburse you for your long term care expenses given that you can present a practitioner's statement detailing your chronic illness of 90 days or more.

For proof of chronic illness your condition must involve illness which renders you from performing at least 2 of 6 daily living activities

Customize Three Core Benefits

This policy will also allow you to customize three main benefits

• How much monthly benefit you would like in dollars
• How many years of coverage (3-7)
• inflation protection (3-5%)

0 Day Elimination period

There is 0 days elimination period with Lincoln Money Guard III along with two options on your return of premiums.

1. 70% return of paid premiums
2. 100% return of premium paid after 10 years vesting schedule

Pros

• 98 % of claims paid within three days
• Tax Qualified
• No medical exam
• Return of premium or residual death benefit

Financial Ratings

Better Business Bureau : A+

AM Best : A+

Standard and Poor's : AA-

Conclusion

Costs for long-term care are on the rise and a concern for many as it can put a significant dent on one's savings. Lincoln Financial's MoneyGuard II may help you prepare for your future care and also allows you a death benefit or premium return option if care is never needed.