Presented by Brian Leising Finding the right formula for each client Not all extended care riders on life insurance policies are created equally. Do you know the differences? Different combinations will appeal to different clients more than others. Here are eight of the major distinguishing features among insurance companies offering extended care riders. All include some combination of the eight elements. This allows you to find the right formula for each client.

Premium Payments	Benefit Qualification	Benefit Amount
Pf Payment Frequency		Pa Payment Amount
Lg Lapse Guarantee	Tc Tax Code	Pm Payment Method
Wp Waiver of Premium	Ep Elimination Period	If Inflation

Element 3 – Waiver of Premium Most insurance companies waive premiums while the insured is on claim and qualifying for benefits under an extended care rider. However, some still require premiums to be paid and others waive only the premium for the extended care rider, not the base life insurance policy. If the premium is not waived, a client could continue to pay premiums from the same resource they have always used or redirect part of their extended care benefit to pay the premium. This could pose a problem if the cost of care greatly exceeds their policy benefit and they have to use their own funds. Most clients will expect their premiums to be waived upon filing a claim. Look for Element 4 – Tax Code and Benefit Qualification in April