Mass Mutual rolled out a single deposit Long Term Care product that provides Long Term Care, Life Insurance and guaranteed cash value build up all in one policy. Unlike other similar products, the MassMutual product guarantees an increase on all benefits over time. This is a single deposit product meaning it is intended for lump sum roll-overs only. An illustration for a 60 year old male depositing 100K is attached here for your review MassMutual Care Choice One Ilustration
Here is breakdown of the results. (based on current dividend payment)
100K deposit – 60 year old male
Year 10 results – $341,000 LTC, $193,994 Death Benefit, $132,499 Cash value
Year 20 results – $410,332 LTC, $234,782 Death Benefit, $175,039 Cash value
Year 30 results – $498,000 LTC, $355,412 Death Benefit, $311,000 Cash value
There is a product called Lincoln Money Guard which will provide slightly more leverage on the LTC benefit but the cash value never increases and the Death benefit will never grow. The MassMutual product may be a good alternative given the growth on both values. Email or call our office if you would like more info, need an illustration or have general questions.