August 21, 2020 UPDATE Arizona, Connecticut, Delaware and North Dakota have a September 5th Deadline to lock in the old rates.
The most exceptional single pay long term care insurance value in the marketplace is still available in 9 States:
Arizona, Connecticut, Delaware, District of Columbia, Florida, Hawaii, Indiana, New Jersey and North Dakota.
In the past 5 months, LTC insurance rates have increased across the board 15% - 40% with all underwriters: Lincoln, Pacific Life, New York Life, OneAmerica, Securian and Nationwide.
Last month, the Securian SecureCare policy increased its single pay premiums in 40 states by 13.5%.
9 States received a temporary reprieve form this rate adjustment: AZ, CT, DE, DC, FL, HI, IN, NJ and ND.
If you have a residence in one of these 9 States you are still able to lock in the old Securian rates unavailable anywhere else.
We anticipate the rates in these 9 States will receive the 13.5 % increase as early as September.
The Securian SecureCare cash indemnity hybrid policy offers ultra competitive single pay pricing in the marketplace today.
Additionally the Securian SecureCare policy pays 100% cash indemnity benefits with no receipts required.
And the Securian SecureCare policy includes a Vested 100% Return of Premium benefit if you change your mind.
The Securian SecureCare policy has made my Mount Rushmore of the best long term care policies since its introduction.
This pending 13.5% rate increase by Securian has been implemented already in 40 States and it was overdue considering the current treasury yield and low interest rate environment.
Multiple underwriters such as Pacific Life, Nationwide, OneAmerica and Lincoln have already increased their policy pricing to reflect the low interest rate environment. As a comparison, Lincoln Moneyguard has increased its rates by 43% in the past 6 months. So in this light, the 13.5% pricing increase by Securian is actually reasonable. However, Lincoln Moneyguard's huge pricing adjustments could foreshadow more pricing changes by all of the underwriters, including Securian.
The time to apply for your long term care insurance coverage is now, especially if you reside in AZ, CT, DE, DC, FL, HI, IN, ND and NJ.
Once you apply for your coverage, your rates and benefits are locked in and guaranteed.
The application process is easy. We can complete your applications by phone in 5 minutes.
The underwriting process is also streamlined. To get approved for your coverage, the only requirement (generally) is a telephone health interview.
I will usually get hybrid policy applications approved and issued within 10 days of application.
To receive customized illustrations and advice, please call me direct toll free at (800) 891-5824. Or complete my online quote request form.
I look forward to helping you.
(Securian SecureCare is not available in NY and CA)