At Nationwide, we’ve developed a new approach to long-term care coverage called Nationwide YourLife CareMattersSM. CareMatters addresses many common concerns around long-term care, helping you remove obstacles between your client and this important coverage.
Long-term coverage with unique features
The long-term care conversation is a delicate one to bring up with clients – but is crucial to planning for your client’s complete retirement needs.
Starting the long-term care conversation
Use our talking points to start the conversation with your clients.
Share these facts:
- 70% of people over the age of 65 will need long-term care (LTC) at some point in their lives, but planning ahead makes it less intimidating1
- When your client purchases CareMatters they’re not giving up an asset, but repositioning an asset to create more value whether LTC coverage is needed or not
Assure them that they’re guaranteed to get their premium back even if they:
- Exhaust all the LTC benefits and receive the minimum death benefit, OR
- Use some of the LTC benefits and receive a portion of the death benefit, OR
- Spend none of the LTC benefits and get return of premium (plus any growth) or the remaining death benefit (higher than the premiums paid)
Explain that there are two ways Nationwide YourLife CareMatters pays the death benefit:
- Your client’s beneficiaries get the full death benefit if LTC benefits are not needed and it’s more than premiums paid
- Even if all LTC benefits are used, your client’s beneficiaries still get a death benefit, called the minimum death benefit, which is the highest in the industry
Describe how CareMatters sends a check each month for the full monthly benefit amount to cover whatever they need.
Explain how it works: If your client doesn’t need the full monthly benefit, they can take a lesser amount at the time and put the excess into a dedicated Nationwide Bank-secured Money Market account for later use.