Combination Life Long Term Care Insurance – Linked Benefits

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While we are healthy it is easy for us to take for granted the Activities of Daily Living (ADL’s). However, when you or a loved one is stricken with a degenerative condition such as a stroke, performing these ADL’s becomes impossible without the assistance of another person. This type of care is chronic (full-time) and thus becomes very expensive. Cognitive Impairment, example Alzheimer’s, is a stand-alone trigger of benefits.

A Linked Benefit Product: Makes your money work harder; leveraging each dollar up to 5 times in the event of an extended care need. Provides a Death Benefit to beneficiaries if you don’t use all the money. Keeps you in control of your assets; a money back guarantee. Offers a smart way to help protect your existing assets from an extended care event.

What Is A Linked Benefit Product?: Linked benefit product: a base product such as life insurance or an annuity with a “rider” that provides long term care benefits if needed. Provides multiple benefits, paying out the first benefit, as needed. Qualified long-term care costs are reimbursed Reimbursements intended to be income tax-free.

More Extended Care Protection: Extended Care Reimbursement: If you need extended care: Up to 5 times premium dollars Reimbursements for qualified long-term care costs intended to be income tax-free. Benefits paid up to the maximum monthly amount specified in your policy. Specified amount of death benefit used to reimburse long-term care costs. Optional rider can provide coverage for specified number of years after death benefit is depleted. Cost of riders deducted from policy’s account value.

Income Tax-Free Death Benefit: Death Benefit: If you never need extended care : Income tax-free death benefit. Any portion of guaranteed death benefit not used for long-term care benefits will pass to beneficiaries income tax-free. Any money borrowed or withdrawn from the policy will reduce the death benefit.

Money Back Guarantee: Return of Premium: If you change your mind: Provides a money back guarantee through the Return of Premium Rider on single premium and certain flexible premium universal life policies. Your premium payment can be returned to you, minus any loans, withdrawals, or benefits paid, and is subject to the terms of the Return of Premium Rider.

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