In the long term care insurance early days, every policy sold was a traditional reimbursement policy. Over recent years sales trends have changed with LTCi plans including a partial cash benefit gaining market share.

Why have sales started to increase with plans that offer a cash benefit?  Many feel agents are showcasing the cash benefit in response to prospects’ objections that LTCI policies are too complicated and that the consumer is reacting to the simplicity that cash offers at claims time.

“Agents are finding that more and more consumers are willing to pay higher premiums for a plan with a cash benefit because the cash component is most desirable for those who wish to stay in their homes.” stated John Wane, President of American Independent Marketing (AIM)   “With a cash benefit the policyholder can pay a family member to be a caregiver or pay for a specialist for home care.”

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