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Meet the New PremierCare

Bob Maruska
LTC & DI Specialist

The new PremierCare Choice products are here: PremierCare Choice 100 and PremierCare Choice MAX.  The multi-pay version is also new this month.

Pacific Life's PremierCare now has two products for sale to fit almost any asset based long term care situation or sale.  PremierCare Choice 100 is the new product which is similar to the current PremierCare Advantage plan.

One major change with the new product is as follows:

PremierCare Choice 100 offers both reimbursement and indemnity options for benefits at claim time.  That decision does not have to be made at the time of application.  That decision can be 10 to 25 years later.  This is fully explained in the new illustrations and both benefits and figures are shown with the illustration.  The new product has changed from a universal life chassis to a non-participating whole life chassis.  The change will result in no withdrawals and loans only in the future.

Some other key features are that international benefits are now available under the indemnity option.  The elimination period did not change on the reimbursement option, but the elimination period is different for the indemnity option.  The PremierCare Choice 100 is still a 100% return of premium plan in year one.

Here are the other major changes with this new version of PremierCare:

Pacific Life has a second version of the PremierCare Choice product which is being called PremierCare Choice MAX.  All of the benefit options and elimination periods are the same as the Choice 100 version except the return of premium feature.  Choice MAX has a 15 year vesting schedule to get back up to a 100% return of premium.  In turn, Choice MAX will have the largest monthly benefit between the two versions of the product.

This second version of the product was created due to other trends in the asset based marketplace.  This product could be helpful in the older age cases where the benefit takes a priority over the return of premium version.

The following are two example illustrations of the new Choice 100 and Choice MAX for a 62 year old female client as well as the client brochures for both versions of PremierCare.

Feel free to contact your FHC marketing team with any questions or illustrations requests.

BOB Maruska | LTC & DI Specialist   636.695.2826   bmaruska@FIRSTHEARTLAND.COM

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