How do you plan to pay for:
Don’t need long-term care during your lifetime? Receive the entire benefit as a payout to your beneficiaries.
Receive 4% per month up to 2X your life insurance amount for your LTC benefit. Your death benefit then restores to its original amount.
LTC services are not covered by your Health Insurance, Disability Insurance, or Medicare. Purchasing Long-Term Care and Life Insurance is a preferred option for those who want to ensure they can afford the care they may need later in life.
LTC benefits help:
You choose a death benefit from $25,000 - $200,000, in increments of $25,000.
Death Benefit: There are two types of Universal Life policies available, depending on your age at the time of enrollment:
One policy with two benefits – life insurance coverage for your family and long-term care benefits if you need them. Building a plan is simple:
i. Choose a life insurance benefit up to $200,000
ii. You can access 4% of the life benefit per month if you need LTC (i.e. $100,000 of life = $4,000 per month for LTC)
iii. The LTC benefit will keep paying up to 2x the life benefit ($100,000 life benefit = $200,000 total for LTC)
If you are diagnosed with a cognitive impairment, or cannot perform two of six activities of daily living and that condition is expected to last 90 days, you can withdraw from your death benefit. The six activities of daily living are bathing, eating, transferring, toileting, continence, and dressing.
If you collect a benefit for LTC, your full death benefit is still available for your beneficiaries, as much as doubling your benefit.
Coverage will remain in force as long as there is sufficient net surrender value to cover the monthly expense, rider and cost of insurance charges. If insufficient, the coverage will lapse.
The premium is based on how much death benefit you select and the age that you are at the time of application.
If you select a death benefit within the program’s Guaranteed Issue amount and are between the ages of 18 and 64, there are no medical questions and acceptance is guaranteed.
The illustration provided when you receive your coverage certificate will demonstrate the projected coverage period at the selected planned premium rate under both the current and guaranteed scenarios.
The coverage pays the death benefit if death occurs while the coverage is in force before age 95. If coverage is still in force at age 95 (maturity age) and the insured is still living, the net surrender value is paid as a maturity benefit and coverage terminates. You will also receive an annual statement on the anniversary date of your policy to review your coverage period.
Upon death your beneficiary would receive the full amount of death benefit that you applied for. If you reach the maturity age of 95, the net surrender value is paid as a maturity benefit and coverage terminates.
Long-term care benefits can last for up to a total of 50 months at a 4% withdrawal rate from your death benefit.
Coverage is available for your spouse however; coverage amounts and underwriting may vary. The employee must apply for spouse coverage to be issued.
Your premium will be based on your age at the time of issue. You will receive an annual statement on the anniversary date of your policy that will explain the details of your coverage and your premium.
The premium will be deducted from your paycheck based on your pay schedule (monthly, bi-weekly…etc.).
You can enroll online. Login now to get started.
This policy is completely portable – meaning you take the coverage with you if you were to change jobs or retire from your current employer. The bill will be transferred to come directly to you and you can continue coverage without any change in premium or benefit amounts.
This is adjustable universal life insurance that can be decreased in coverage (subject to US Tax Code compliance) or increased in coverage (subject to underwriting), but there are no scheduled decreases in coverage.