LONG TERM CARE INSURANCE – HOW DOES IT WORK?

Total Long-Term Care Insurance: An essential tool for retirement planning!

You receive a tax-free monthly benefit:

• A tax-free monthly benefit payment in the event that you are unable to perform at least two of the six activities of daily living on your own: bathing, dressing, toileting, transferring, eating and continence or suffer a cognitive impairment as defined in the policy contract.

You can choose where you wish to receive the care required:

• Benefit eligibility is not dependent on admission into any care facility nor do you have to obtain receipts for the care received to collect the designated benefit payments.

You decide how you wish to use your benefits and you do not have to submit receipts:

• The freedom to use your benefit the way you see fit – receive the type and quality of care you need or use it to replace the lost income of a family member that provides the tender care you deserve.

You have assistance from a healthcare professional:

• Unique assistance services offer you the advice and guidance of medical and health specialists (at no additional cost) to help you cope with a variety of issues in your daily life.

YOUR OPTIONS

Choose The Monthly Benefit Amount

• Minimum $1,000
• Maximum $8,500

Choose the Benefit Period – the benefit payable for a maximum period of:

• 2 years
• 5 years
• Lifetime

Choose the Waiting Period – the benefit is payable after a waiting period of:

• 30 days
• 90 days
• 180 days

Choose the Option of Increase in the Insurance

• The option to increase the benefit amount, every 3 years,
• Amount (Cost of Living Adjustment) without evidence of insurability, until the insured attains the age of 80.

Choose if you want Return of Premium at Death

• At the time of death, the total of all LTC premiums collected, LESS any benefit already received, is paid to the insured’s designated beneficiary. Issue ages: 18 to 55.

Is your spouse also purchasing a plan? – Spousal Coverage

• If both spouses purchase an individual long-term care policy at same time, total premium is reduced by 10%.

Payment of Premiums – How long do you want to pay your premiums for?

• Payable for life
• Payable for 20 years
• Note: No payment required in the event of a loss of independence.