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How do LTC claims effect the death benefit on a life insurance policy with a LTC rider?
LTC benefits paid will reduce the death benefit value, dollar for dollar.
Meaning, If the policy has a death benefit of $150,000 and $100,000 is paid in LTC benefits, the remaining death benefit is $50,000.
Income InSight does calculate the reduction of death benefit due to LTC benefits being paid and any death benefit paid is reflected as non-qualified funds.