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CURRENT ISSUE ADVERTISERS
Advertiser
Page Advertiser
Page
AXA Equitable....................... 7
www.axa-equitable.com/
the-shield
Judy Diamond Associates
BSE Expo ........................... IBC
www.BenefitsSelling
Expo.com
Generali USA...................... BC
www.GeneraliUSALifeRe.com
Principal Financial ................ 5
PREVIOUS ISSUE ADVERTISERS
December 5
November 21
3 in 4 Need More....................
..... www.3in4needmore.com
AXA Equitable.........................
..... www.axa-equitable.com/
........... axa/why-choose-axa-
...................... equitable.html
Blue Shield of California.........
....... www.blueshieldca.com/
............................... producer
Bramco Financial ....................
.. www.bramcofinancial.com
Forethought ............................
www.mandomarketing.com
Genworth Financial
John Hancock .........................
www.johnhancockLTC.com
Judy Diamond ...........................
12-19-2011
policy to pay for long term care while still alive. Policy owners
for the most part do not understand their legal rights of ownership and the various options available to them. The insurance
industry prices and makes profits from the fact that millions of
people are paying billions of dollars in premium payments for
policies that in the end will be abandoned. The shame of this
situation for the consumer is that there are numerous options
for them to explore before surrendering or lapsing a policy.
The National Conference of Insurance Legislators (NCOIL)
NCOIL President Rob Damron (KY), upon unanimous passage
said, “It is imperative that policy holders understand that they
have alternatives to merely lapsing or surrendering their policy.”
The disclosure law is an important consumer protection victory for people requiring long term care because it will increase
their awareness about the best use of a life insurance policy’s
death benefit while still alive. The senior care industry and law
makers are recognizing the opportunity to convert life policies
into a method to pay for the high costs of senior housing and/
or long term care. Among the options specifically included in
the NCOIL Model Law is for a policy owner to “convert a policy
into a long term care benefit plan”. For families unable or unwilling to keep their policy in-force by maintaining premium
payments, the conversion option to pay for long term care is a
much better choice than abandoning the policy.
