Sometimes we think we are invincible and don't have a care in the world. But your life probably isn't like that. You have responsibilities, whether it's raising children, caring for older parents or planning for your own retirement and health care needs. Long Term Care Insurance can help by providing a valuable tool to guard your wealth.

Statistics to consider regarding Long Term Care:

• The average cost of long term care in the United States is $56,880 a year.

• Home care expenses can run in excess of $28,500 annually.

More of your employees may need LTC insurance than you might first think. Despite popular misconceptions, the need for Long Term Care isn't restricted to the elderly. Did you know that two out of five Americans receiving long term care are under the age of 65?

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What Triggers LTC Benefits?

LTC Features

LTC FAQ

What Triggers LTC Benefits?

Long Term Care Insurance is financial protection in the event an insured person loses a certain number (usually two) of their six Activities of Daily Living (ADLs) or who suffers from severe cognitive impairment for an extended period of time. Activities of Daily Living include: Bathing, Dressing, Transferring, Toileting, Continence, and Eating.

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LTC Features

•  Guaranteed Issue to certain limits regardless of health for employee (subject to 6/6 pre-existing condition limitation )*

•  Group, Voluntary, or Core/Buy-Up Plan designs available

•  Can choose either reimbursement or indemnity model

•  Can choose simple/compound inflation protection for additional price

•  Benefits are payable to domestic or international caregivers

•  5 Accelerated Payment Options - Single Pay, 5 year, 10 year, To age 65, Greater of 10 years or to age 65

•  Cash surrender option

•  Cumulative Elimination Period definition (720 consecutive day period)

•  No maximum issue age for retirees

•  No maximum issue age for employees with evidence of insurability

•  Family members are eligible at same group rates with evidence of insurability: spouses, children, parents and grandparents of employees and their spouses age 18-80

•  Home care option available

•  Rates are on average 40% lower than individual rates found on the open market

•  Premiums are frozen at the age at which coverage is purchased

•  No individual group can be singled out for a rate increase, unless a rate increase is given for an entire book of business.

*This condition states that if you received medical treatment, consultation, care, or services, including diagnostic measures for the condition, or took drugs or medicines that were prescribed for the condition; during the six month period right before your coverage began, the insurance company will not make any payments to you for a Disability that is caused by, contributed to, or results from a pre-existing condition, and begins during the first six months after your coverage begins.

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LTC FAQ's

What are the Six Activities of Daily Living?

They are bathing, dressing, toileting, transferring, continence and eating as well as severe cognitive impairment.

What Events Can Lead To The Loss of ADL's?

Many conditions can result in the need for ongoing care, including arthritis, heart disease and mental impairment, as well as stroke and trauma (any type of accident, at any age). Stroke is actually the leading cause of serious, long-term disability in the U.S.

Who Is Affected Directly and Indirectly?

Currently 40% of Americans receiving long term care are under age 65. Women face a 50% higher risk simply because they live longer. Over 12 million people in the United States need long term care. Any adult children and grandchildren can be affected financially when their parents or grandparents need care and they are relied upon as the caregiver or for financial support. This can mean you! So whether you are affected directly or indirectly through your parents or grandparents by a disabling health condition, the financial consequences can affect you.

What Is Unique About This Coverage?

This coverage is affordable, with premiums starting out as little as just a few dollars per month. Premiums remain level once purchased at a certain age. In addition, this insurance may be offered through your employer on a "guaranteed issue" basis, meaning regardless of your health, you will be able to purchase coverage up to certain amount regardless of your health status (subject to a one time 6/6 pre-existing condition limitation).

This coverage will be also be available to spouses, adult children, parents, and even grandparents under 80 years of age at the same attractive group rates! Spouses, adult children, parents, and grandparents will need to provide evidence of insurability. Employee and Spouses may pay for their LTC insurance through payroll deduction, whereas adult children, parents, and grandparents will be billed individually at home.

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