Life Insurance with Long-Term Care

Life 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 you need them.

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

Program Highlights

• Coverage is available for yourself, your spouse, and your child(ren)
• 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.

Long Term Care Exclusions

• We will not pay Rider benefits for care that is received or loss incurred as a result of: 1. an intentionally self-inflicted injury, or attempted suicide; or 2. war or any act of war, declared or undeclared, or service in the armed forces of any country; or 3. treatment of the Insured's alcohol, drug or other chemical dependence, except if the drug dependency was sustained or acquired at the hands of a Physician, or except while under treatment for an injury or sickness; or 4. the Insured's commission of, or attempt to commit, a felony; or an injury that occurs because of the Insured's involvement in an illegal activity.
• We will not pay Rider benefits if the Confinement, Home Health Care service, or Adult Day Care service: 1. is done outside the United States and its territories; or 2. is provided by ineligible providers; or 3. is rendered by members of the Certificate holder's or the Insured's Immediate Family. 

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 their future¹
• 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 years¹

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 Life Insurance with Long-Term Care benefit for up to an additional 25 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.
• 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. 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.

 

Click here to download your LBT Life Insurance Benefit Claim Form.

Click here to download your LBT Accelerated Benefit Claim Form.