I have recently come across an 84 yr. old female, in relatively poor health who was quoted a BL LTC plan of 150/day, 4 yrs, 28 day EP, 5% compound at $4418/yr. This seemed impossible, however I have no experience with BL and was wondering if anyone could enlighten me as to what the catch is. It seems to good to be true, but maybe it isn't. I want to advise her properly. Any help is welcomed!

Not only does it sound impossible, but why would an agent quote an 84 yr. old a policy with a 5% Compound Inflation Rider?

Banker's is not in NY so I can't verify the quote.

Arthur

That has to be a quote for a stand-alone HHC policy. I am a Bankers agent and ran that information on BLC Insurance Desk, and the premium for an LTC policy for an 84 year old with those specifications would be over $21,000 a year. The dead giveaway for me was the 28 day EP; Bankers offers no such EP for LTC policies; the closest is 30 days. I ran the quote for an NQ HHC policy, and the quote I came up with is about $300 less than the one you quoted. Could be a state difference; not sure. Hope this helps!

Edit: This was at Standard risk too; we cannot do quotes for Substandard.