Strategic Partnerships
Aging Gracefully: Plan for Long-Term Care with Confidence
What is Long Term Care?
Long-term care (LTC) is a variety of supports and services designed to help people live as independently and safely as possible when they can no longer do so on their own.
Long-term care coverage can help provide an additional stream of funds that can help pay for supplementary supports and services.
Long-term care isn't just a place
Ensure Your Care, Your Way: Explore Long-Term Care Options
Many people assume long-term care takes place in a nursing home. While some does, most long-term care starts in a home-based setting. With planning, you can increase the options and flexibility if you ever need long-term care, including the funds to pay for services such as:
Home Care
Receive care in the comfort of your own home or the home of a family member or friend.
Community Living
Pay for caregiving facilities such as adult day care and continuing care retirement communities for individuals who are active and able to live on their own.
Facility Care
Fund options for assisted living or full custodial care services.
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Types of Long Term Care Coverage
Stand-Alone LTC
LTC Riders on Life Insurance
LTC Riders on Life Insurance
Offers only LTC Coverage
Premiums and LTC benefits can be changed by the insurer
Premiums must be paid even if LTC is never needed
May offer the option to purchase more coverage in the future
Usually a lower-priced option because it covers only LTC; premiums typically never end
LTC Riders on Life Insurance
LTC Riders on Life Insurance
LTC Riders on Life Insurance
Life insurance is typically the primary need while LTC coverage is secondary
Premiums can change based on the type of insurance
If LTC isn’t used, a death benefit is paid to beneficiaries
The LTC benefits typically do not increase in the future
May have more flexible premiums based on the policy
Linked-Benefit LTC
LTC Riders on Life Insurance
Linked-Benefit LTC
LTC coverage is typically the primary need, but these policies may also provide a death benefit
If LTC isn’t used, a death benefit is paid to beneficiaries; a small death benefit may also be provided, even if 100% of the LTC benefit is paid out
Optional inflation protection can grow the LTC benefit over time
Premiums can be paid in a lump sum or over a fixed number of years
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