Assurity Long-Term Care Insurance
Planning for a secure retirement can be intimidating-but you don't have to go it alone. Assurity can assist you with retirement funding solutions to accumulate your nest egg, avoid outliving your money, reduce taxes and plan for long-term care needs.
Single individuals have certain unique financial needs. Contact an Assurity representative about helping you create a game plan to secure your financial future.
Long-term care (LTC) insurance reimburses the policyholder for the cost of long-term or custodial care services designed to minimize or compensate for the loss of functioning due to age, disability or chronic illness. LTC has many surface similarities to long-term disability insurance. There are at least two fundamental differences, however. LTC policies cover the cost of certain types of chronic care, while long-term-disability policies replace income lost while the policyholder is unable to work. For LTC, the event triggering benefits is the need for chronic care, while the triggering event for disability insurance is the inability to work. Private LTC insurance is growing in popularity in the US. Premiums have remained relatively stable in recent years. However, the coverage is quite expensive, especially when consumers wait until retirement age to purchase it. The average age of new purchasers was 61 in 2005, and has been dropping.
You need to consider Long-Term Care Insurance (LTCI) if:
- You have assets and income to protect against the risk of catastrophic long-term care expenses.
- You want to help protect your family from the burden of possible long-term care expenses.
- You want to have greater control over the quality and type of long-term care you receive, should the need arise.
This is a product for individuals seeking affordable, comprehensive protection from nursing home and home care expenses. It is available as a “Facility Care Only”(1.) or a Comprehensive (2.) policy.
- Available Issue Ages: 40-84
- Maximum Daily Benefit: $40-$300
- Elimination Periods: 0, 30, 90, 180 days
- Benefit Periods: 2 years, 3 years, 4 years, 5 years, 6 years, 10 years, lifetime
1. Facility Care Only Option (FC)
Includes care in a nursing facility or assisted living facility.
2. Comprehensive Option Facility Care (FC) and Home and Community Based Care (HCBC) (available for additional premium) Includes care in a nursing or assisted living facility, as well as care in your home or in the community, including hospice care.
Provides respite care so the primary caregiver in your home can be relieved by another caregiver. HCBC also includes training for your informal caregiver.
Plus, there are 12 riders to choose from! You can customize the product to fit your individual needs.
Our LTCI policy offers some of the best, most wide ranging benefits in the industry. The following benefits are included at no extra cost in both LTCI plans available from Assurity:
This is a brief description of benefits; please consult the policy or your agent for exclusions, limitations and additional information.