Welcome Back Securian!
Effective January 23, 2023 Securian will be reducing rates across the board by 25%! on its SecureCare III cash indemnity hybrid long term care policy.
This pricing decision by Securian will immediately make the SecureCare III policy an extremely attractive option for you if you are considering a hybrid long term care policy and you are in good health. Securian generally prefers applicants to be healthy to receive approvals.
This Securian price improvement will be effective in 36 states.
Unfortunately the Securian SecureCare III new rates will not be immediately available for residents in AZ, CA, CT, DE, DC, IN, MT, NJ, ND, NY, SC and SD.
It will be interesting to see how the long term care insurance market reacts to this uber-aggressive pricing decision by Securian. Will Nationwide CareMatters II, Lincoln Moneyguard, OneAmerica Asset Care and New York Life Asset Flex policies follow suit with their pricing? For now, Securian will generally be 20% less expensive than Lincoln, Nationwide, and NY Life. I do not believe the alternative underwriters will elect to match Securian's new pricing whatsoever.
Securian's decision to decrease its pricing is reflective of the current rising interest rate environment which has been a boon to the reserves of insurance companies. The 10 year treasury rate is yielding 3.53% today, up from 1.5% a year ago and 0.61% two and a half years ago. Securian is making the decision to pass along the increased yields to SecureCare III applicants in the form of reduced premiums.
For limited benefit period hybrid policies such as Securian SecureCare, Nationwide CareMatters, NY Life Asset Flex and Lincoln Moneyguard Fixed Advantage, Securian's new pricing will be so dramatically better than all underwriters that determining your best value today will now be easy if you believe 6-8 years of long term care coverage is enough.
If you seek Unlimited Lifetime benefits, or wish to complete IRA rollovers to fund your plan, the OneAmerica Asset Care policy will be the only real alternative to Securian SecureCare beginning on January 23rd.
I work with all of the leading underwriters of long term care insurance including OneAmerica, Lincoln Moneyguard, Mutual of Omaha, National Guardian, Nationwide, Brighthouse, Global Atlantic, Securian, Thrivent and more. To receive customized illustrations and comparisons of your best long term care insurance policy options, please contact me at (800) 891-5824. Or if easier, please schedule call with me through the link below to my calendar.