Tech-enabled brokerage enables advisors with addition of hybrid and stand-alone long-term care insurance to life insurance and broader financial protection portfolio
NEW YORK, NY / ACCESSWIRE / April 4, 2023 / Modern Life, a tech-enabled life insurance brokerage for advisors, today announced the addition of long-term care insurance and hybrid long-term care insurance to its comprehensive suite of life insurance products for advisors. With both solutions available through Modern Life's completely digital platform, advisors have more opportunities to use the platform to match their clients with the right product for their needs.
Modern Life offers advisors access to long-term care insurance in addition to permanent and term life insurance, annuities and variable products from more than 20 national carriers. Advisors can request a quote for long-term care through a unique, shareable form that removes frictions in the collection of client data. They also have access to a leading brokerage team who, with a deep understanding of the life insurance market, can help advisors compare various coverage options and available riders.
"The average person retiring today has a 70% chance of requiring long-term care in their lifetime. With care costs rising by as much as 6% per year, it is more important than ever that financial advisors help clients plan for their future needs," said Michael Konialian, Co-Founder and CEO of Modern Life. "We are proud to offer linked benefit long-term care insurance, a comprehensive solution that covers multiple planning needs, and demonstrate our commitment to helping advisors and their clients succeed."
Incorporating long-term care allows Modern Life to support advisors with an innovative solution to meet clients' needs as they prepare for retirement and the potential of more extensive care down the line. The solution allows advisors to plan more holistically for their clients' potential costs in retirement.
"Clients are increasingly concerned about custodial care costs and longevity risk. Long-term care solutions offer a means to offset these risks in a tax-efficient manner," said Eric Greene of Northeast Financial Network. "Modern Life helps us create cost-effective, hybrid long-term care solutions to help clients preserve their wealth and protect against unexpected expenses."
Modern Life continues to expand upon its commitment to support advisors and their clients throughout the life insurance journey, with a streamlined digital experience, host of comprehensive coverage options and access to leading resources.
About Modern Life
Modern Life is a tech-enabled life insurance brokerage. With a focus on empowering advisors, Modern Life offers advanced technology solutions to digitally streamline advisors' practices and expert brokerage support. With Modern Life, advisors nationwide can compare quotes from top carriers in minutes, perform data-driven underwriting assessments, manage clients from an integrated dashboard, and receive comprehensive deal support. For more information, please visit modernlife.com.
Media Contact:
Jacqueline Silva
Caliber Corporate Advisers
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SOURCE: Modern Life