Lifetime Benefit Term Insurance with long-term care provides lifelong protection with flexible premiums. It is one policy with two benefits: life insurance coverage and long-term care benefits if needed.

This plan includes living benefits that provide financial support to cover the cost of long-term care, such as nursing home, assisted living, or home care, that you might need as a result of an accident, illness, or aging. 

As life insurance, this plan also protects your family with money that can be used however they choose. It is often used to pay for mortgage or rent, education for children and grandchildren, retirement, family debt, and final expenses.

Program highlights

• Elect coverage for yourself, your spouse, children and dependent grandchildren.
• Flexible permanent insurance designed to last a lifetime.
• Benefits for long-term care services such as home health or nursing home care - you can access 4% of the selected life benefit per month if you need long-term care.
• Death Benefit is guaranteed 100% when it is needed most – during the working years when a family is relying on income. While the policy is in force, the death benefit is guaranteed for the longer of 25 years or through age 70.
• Even after age 70, when income is less relied upon, the death benefit is guaranteed to never be less than 50% of the original death benefit, up to $50,000.

This is a voluntary benefit that you can pay for through payroll deduction. This enrollment period is only for this benefit through Chubb; all other benefits, such as medical, dental, and vision, are not included in this enrollment period. You will be eligible to enroll in or make changes to those benefits during our 2025 Open Enrollment period held November 1 - 30, 2024.

Long-term care coverage provides peace of mind knowing you won't become a burden to loved ones if you become ill. While it's true that Medicare may cover some long-term care costs, Medicare's coverage can be very limited. Long-term care coverage is the best way to protect yourself and your financial assets.

• Seniors aged 65 have a nearly 70% chance of needing long-term care services in the future.¹
• Women (3.7 years) stay in long-term care facilities longer than men (2.2 years).¹
• 20% of today's 65-year-olds will need long-term care for longer than 5 years.¹

¹U.S. Department of Health and Human Services (DHHS)’s Administration on Aging (AOA)

• The plan includes a Terminal Illness Benefit Rider which accelerates 50% of the death benefit amount, up to $100,000, if you are diagnosed as terminally ill with 12 months or less to live and your coverage has been in place for at least two years.
• The plan also includes an Extension of Benefits Rider which extends the same monthly benefit for up to an additional 50 months, doubling the value.
• The plan is portable, meaning you can take this with you, at the same rate, if you change jobs or retire.
• Life insurance premiums will never increase and are guaranteed through age 100. After age 100 no premium is due.

• Premiums are based on age - the younger you are when you enroll, the more benefit you receive for the same premium.
• This is your last opportunity to elect this benefit on a guaranteed issue basis, regardless of medical history, with no physical or medical questions required. Their spouses who wish to enroll must answer one or four questions depending on their age and the amount of coverage they are selecting.

• The state of Washington implemented the first public long-term care program funded through an additional payroll tax for all working residents. A California task force is considering a payroll tax of up to 2% of your income with a private insurance opt-out. Life Insurance with Long-Term Care may satisfy the state's requirements for tax exemption. There are 25+ additional states that may follow Washington’s lead in creating a payroll tax for all working residents.

Long-term care costs can deplete your retirement savings quickly, leaving your family at risk. And since 7 out of 10 Americans will eventually require long-term care, it is important that you protect your financial future now. Thankfully, long-term care coverage provides financial support to help cover these costs so that your family and your financial assets are protected while providing peace of mind, knowing you won’t burden your loved ones if you become ill.