Chicago, IL. (June 8, 2009) - National life and health insurer
Bankers Life and Casualty Company today introduced LinkedSolution, its first
linked benefit product. The retirement offering combines a deferred fixed
annuity product with a long-term care rider.
"Bankers' LinkedSolution provides answers to many of the financial
challenges posed by retirement," explained Scott Perry, president of Bankers
Life and Casualty Company. "It can give clients a way to save for long-term
care without sacrificing asset growth, and, because the annuity's value
continues to grow until it's withdrawn, the product should appeal to those who
are reluctant to pay long-term care premiums when they might not need the
benefits."
LinkedSolution uses a fixed annuity to fund long-term care
insurance. A one-time premium of $25,000 or more opens the annuity, which
features guaranteed minimum interest rates, tax-deferred growth, and annual
free partial withdrawals. The cost of the long term care insurance is deducted
directly from the annuity account.
Clients can customize their monthly long-term care reimbursement payouts using
one of five different benefit structures. Depending on their choice, they can
receive an additional company-paid long-term care benefit of up to double their
annuity value, once their annuity account value has been exhausted paying for
care.
If long-term care is never needed, clients can continue to
accumulate value in their annuity, begin receiving those funds as an annuity
payout, or pass it on as an inheritance to their beneficiaries.
LinkedSolution is available through Bankers' career sales agents in
Georgia, Idaho, Indiana, Kentucky, Louisiana, Michigan, Maine, Nebraska, New
Mexico, North and South Carolina and Washington, DC. Plans call for the product
to be released in ten more states by the end of June with additional states to
come.
About Bankers Life and Casualty Company
Established in 1879 in Chicago, Bankers Life and Casualty Company focuses on
the insurance needs of the retirement market. The nationwide company, a
subsidiary of Conseco, Inc., offers a broad portfolio of life and health
insurance retirement products designed especially for seniors. Visit
us online at www.bankers.com.
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