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Subject:  Re: Long Term Care Insurance Date:  2/26/2003  9:45 AM
Author:  LTCiPro Number:  8370 of 20632

Carol, good thoughts. I wouldn't count your husband out as uninsurable unless you first have 3 different carriers look at his condition on their underwriting hotline. John Hancock is very liberal with Diabetic conditions and one of the top 3 carriers in the US today...Hancock, Met Life and GE Capital are my favorites currently for your age group. If allowed to submit an application, be sure you are working with an independent consulting broker/agent that is licensed with these three as a minimum. Have him apply, simultaneously, with at least 3 carriers, if allowed. Just being allowed to apply does not mean guaranteed coverage. Spread the risk by applying to several.

I would not wait for your own coverage. I have many high income/asset clients that buy purely for the benefit of their kids inheiritance. It also makes gifting more palitable kn owing you have the LTC expense risk covered. Also, wealthy people want the BEST of the BEST care when it's needed...don't go too lean on your daily benefit amounts. I would consider $210/day benefit amount (tax issues) and no inflation or Simple Inflation rider at most. That way, you front-end load your benefit to compensate for no inflation or low inflation riders.

Good luck,

Steve Eads, CLU
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