RADNOR, PA — This month, Lincoln Financial Group (NYSE: LNC) celebrates the 35th anniversary of its MoneyGuard® product suite by encouraging all Americans to have open and realistic discussions about long-term care.
According to new research, almost half of Americans surveyed (43%) are concerned about paying for long-term care services for themselves or a family member – but only 8% of those surveyed had discussed or researched long-term care funding over the past 90 days1. More than three decades after launching MoneyGuard, Lincoln remains committed to providing customers with the knowledge and solutions they need to help protect themselves and their loved ones.
“Conversations about long-term care can be challenging because it’s often difficult to talk about money, illness and death. Many of us tend to simply avoid these discussions,” said Mike Hamilton, vice president, MoneyGuard Business Management. “However, long-term care planning discussions can be a positive experience and can help families level-set on the financial implications of different care preferences before the need ever arises.”
Since the product’s initial launch in 1988 as a convalescent care rider, Lincoln has evolved its hybrid long-term care solution suite to include MoneyGuard Fixed Advantage®, MoneyGuard Market Advantage® and a rider that provides a joint solution. The MoneyGuard suite offers customers the resources, solutions, support and stability they need to help address long-term care planning concerns.
“As we recognize this milestone, we remain committed to providing innovative solutions to meet the evolving needs of our customers,” said Bill Nash, senior vice president, head of MoneyGuard Distribution. “We value this responsibility, and we intend to support our customers when they need us.”
1Concerns about paying for long-term care, Lincoln Financial Group Research, 2023.
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