The Covr LTC Estimator enables financial advisers to digitally compare leading asset-based long-term care products and adjust offers based on options such as inflation and elimination periods. The tool highlights product differences based on customer needs and provides an e-signature option to speed up the submission process.
"Covr's new LTC Estimator is a truly groundbreaking offer on the market,"said the CEO of Covr Michael Kalen, "The tool is the first of its kind to offer instant, direct comparisons of industry-leading asset-based long-term care products, and financial advisers increasingly consider asset-based long-term care as a key component of a robust system of financial planning."
Nationwide's CareMatters long-term care and Pacific Life's PremierCare long-term care are two insurance carriers offering asset-based long-term care insurance through the Covr platform.
"Nationwide is excited to be able to offer our CareMatters product through the Covr LTC Estimator tool," said Troy Anderson, Vice President Life Sales, Nationwide. "Our long-term asset-based offering focuses on control and flexibility, and with the Covr LTC Estimator tool, financial advisers can find the optimal asset-based long-term care coverage to meet their clients' individual needs. This is an exciting addition to Covr's other life insurance offerings, including integration with the MoneyGuidePro financial planning platform and Inforce policy management tools. "
"Pacific Life's PremierCare offering for long-term care is based on the idea of choice, and the Covr LTC Estimator offers financial advisors an easier way to help clients understand how asset-based long-term care offers choices that help them confidently plan their financial futures ," said Mark Pelicano, Vice President of the Financial Advisory Network at Pacific Life.
The Covr LTC Estimator is part of the Covr Advisor A platform that connects life insurance, long-term care and disability products of over 30 major insurers with financial institutions and financial advisors to provide them with simple, easy-to-use, low-cost, life-saving protection that is transparent to their clients. Covr also offers a COVR consumer Platform, a web-based platform that enables banks, credit unions and other financial institutions to offer their clients a direct insurance purchase.
ABOUT COVR FINANCIAL TECHNOLOGIES
Covr is a digital life insurance platform that simplifies, grows and manages the life insurance business. Covr works with financial institutions that share the conviction that life insurance should be simple and transparent. With Covr's technology, financial advisors and their clients can look for and buy affordable life insurance from well-known insurance companies without the hassles of the traditional process – all within minutes. Covr's investors include four leading venture capital firms: Nyca Partners, Commerce Ventures, Connectivity Capital Partners and Contour Venture Partners. The Covr Advisory Board includes several recognized financial services and insurance executives, including the chairman Brian Finn, former President of Credit Suisse First Boston; Sallie KrawcheckEllevest, CEO and co-founder, and senior positions at Bank of America, Citigroup and Smith Barney; Robert Kerzner, President and CEO of LIMRA, LOMA and LL Global and former Executive Vice President, Life Department of Hartford Life; Hans Morris, Managing Partner of Nyca Partners, Chairman of the Lending Club, former President of Visa; Brady Dougan, former CEO of Credit Suisse. Covr has offices in Boise, ID and Hartford, CT,
SOURCE Covr Financial Technologies