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Source: "When to Commence Income Annuities," Jeffrey K. Dellinger, Retirement Income Solutions Enterprise, Inc., 2011
August 19, 2009, Featured Articles, Annuities, Health Care
Will Boomers Pony Up for these Riders?
Deferred annuities have lapse rates as high as 40% to 70%, but the lapse rates of LTCI/annuity hybrids could shrink to as low as one or two percent—the rates associated with LTCI policies.
By attaching long-term care insurance (LTCI) riders to deferred annuities, insurers could solve three chronic conditions: the high cost of stand-alone LTCI products, the high surrender rate of deferred annuity contracts, and Baby Boomers' fear of potentially monumental nursing home expenses.
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