Lincoln Financial Group’s new MoneyGuard® III adds new coverage and benefit options for long-term care insurance customers.
Among the 12 covered services now under the umbrella are:
- A transitional care assistance benefit, which can be used during the first year of decline to pay family members other informal caregivers $100 per day for up to 180 days.
- A terminal illness rider provides that accelerates benefits if the insured becomes terminally ill, helping a client get care when they need it. The rider provides for a one-time claim for 25%-75% of the insured amount, up to $250,000.
In addition to the new features, MoneyGuard® III also offers an enhanced return of premium options and the opportunity to spread payments out up to age 70.
