What are the best insurance companies for universal or whole life policies with riders for long-term care or chronic illness

General
1

I’m looking for recommendations on reliable companies that offer universal life policies or whole life policies. I need them to include indemnity riders for long-term care or chronic illness. I live in Florida, so does that matter? Thanks for your help

2

The mutuals

3

Mass Mutual

4

New York Life

5

Allianz offers a great Indexed Universal Life product. They have an Accumulator plan focused on building cash value. Plus, they provide long-term care and critical care riders.

6

There are many options like Protective Life, Pacific Life, Nationwide, John Hancock, Penn Mutual, Mass Mutual, North American Co. for Life & Health, Columbus Life, Ameritas, National Life, Transamerica, and AIG/Corebridge. Some plans include the benefits automatically while others charge extra for chronic illness or long-term care benefits.

7

It’s been a while, but didn’t Sagicor have a good product at some point

8

I recommend Nationwide. They have a variety of Universal Life products with true defined long-term care riders. Their LTC rider is indemnity-based too.

9

Transamerica Life Insurance has all the features you’re looking for. They cover long-term care, terminal, critical, and chronic illnesses, along with wealth accumulation.

10

I’ve used the Guardian Universal Life policy a few times this year. It’s a solid product, and their company has good ratings. They include the riders you need too.

11

State Farm has a Universal Life policy with a long-term care rider. This allows you to draw 2% of the death benefit each month for long-term care. The rider isn’t very costly.

12

Securian is great if you really want long-term care. It’s the best hybrid product available right now. It won’t accumulate cash value (beyond your contributions), and the death benefit might be lower, but if your focus is long-term care, SecureCare III offers the most.

13

The big three are New York Life, Northwestern Mutual, and Mass Mutual.

14

Transamerica might be a good option if they’re available in your state. I’m not sure about that though.

15

I suggest only buying term life. It’s cheaper and offers better value.

16

Dalen said:
I suggest only buying term life. It’s cheaper and offers better value.

I completely agree! I work in Life Insurance and only sell term policies!

17

It seems like you know what you want, so why bother asking