If you have not purchased long-term care insurance yet, we probably know why.
“It won’t happen to me.”
“I am concerned my premiums would increase.”
“It’s to hard to fill out the application, and it takes too long to get approved.”
“Unless I need long-term care, I will never collect any benefits.”
When You make decisions about your LTC protection plan, there are two important questions to consider:
Are you comfortable in totally self-funding?
If not, what can LTC provide me?
- Can provide LTC benefits through the use of a single-premium deferred annuity.
- Earns tax-deferred interest each year.
- Provides monthly benefits for qualifying home health care, assisted living and nursing home care expenses for at least 36 months.
- Provides benefits after a seven-day waiting period.
- If LTC is never needed, upon your death, your named beneficiary will receive the balance of your cash accumulated fund. You may also take cash withdrawals or surrender your cash accumulation, but this will impact the amount available for LTC benefits and surrender charges may apply.
If you are not comfortable in totally self-funding, how much risk do you want to insure? Self funding may not be enough to cover all your LTC needs. Complete self-funding could fall short if there is an extended, longer than average LTC stay or if care for both husband and wife is needed. This is when Annuity Care Plus option can provide further protection of your assets.
Annuity Care Plus: Optional lifetime coverage
- Can provide either lifetime or an additional 36 months of monthly LTC benefits.
- Provides guaranteed premiums with rates that will never increase.
- Can provide inflation protection, if elected, against the rising cost of LTC.
- Can be paid with a single premium or on annual basis.
To learn how this policy can work for your situation, contact John Harvey at firstname.lastname@example.org for a personalized illustration and Outline of Coverage.