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 5 – Elimination Period The elimination period is the amount of time an insured has to wait for benefits after qualifying for them. Put yourself in the insured’s shoes, if you qualify for benefits, why would you have to wait to receive them? Despite this disconnect between consumer expectations and company practice, most policies contain a 90 day elimination period. Some have a shorter period for home health care and only a very few offer clients benefits immediately upon qualifying for claim. Look for Element 6 – Payment Amount in June.