Care Solutions - LTC Coverage
The Care Solutions portfolio is a suite of asset-based insurance products with long-term care benefits, providing consumers with options to help them plan in case of long-term care expenses – and provide value if not. By using the time-tested concepts of life insurance and annuities as their foundation, the Care Solutions can provide value for some of retirement’s most challenging hurdles: living a long life, LTC costs, asset accumulation, and wealth transfer.
Asset-Care®
Issued and underwritten through The State Life Insurance Company
Asset-Care is designed to help clients protect their assets by using the security of life insurance to provide long-term care benefits. With a one-time premium, clients receive a guaranteed amount of life insurance, all of which can be used for qualifying long-term care expenses. In addition, the premium is credited with a guaranteed interest rate and the cash value increases each month.
Policy Form #L301SA31 and R501 (or state variation). Product and riders may not be available in all states.
Annuity Care®
Issued and underwritten through The State Life Insurance Company
With Annuity Care, a single-premium deferred annuity, clients can access cash value for qualifying LTC expenses with a credited interest rate for these funds. Annuity Care can offer an attractive alternative for LTC self-funders.
With Annuity Care:
- Clients have a minimal number of questions to answer,
- There are no exams and
- The entire underwriting process is generally completed within 72 hours of receipt of the application at the Home Office.
Annuity Care is a product that is positioned to take advantage of the recently passed Pension Protection Act.
Policy Form #SA34, R508 (or state variation). Product and riders may not be available in all states.
ImmediateCare®
Issued and underwritten through The State Life Insurance Company
ImmediateCare is a medically underwritten single-premium immediate annuity that helps fund long-term care with monthly payments for life1. Regardless of how long care lasts, ImmediateCare can help an individual maintain the level of quality care desired — whether in assisted living, respite care or care in a home, hospice or adult day care.
Policy Form #SA33 (or state variation). Product and riders may not be available in all states.
Legacy Care®
Issued and underwritten through The State Life Insurance Company
Legacies are created in many ways: through deeds, family, love and wealth. Legacy Care offers clients a financial vehicle to help grow and protect their legacy.
The Legacy Care annuity can accumulate cash value at a competitive credited interest rate. This rate renews at the beginning of each policy year and may fluctuate annually. However, with Legacy Care, if the renewal interest rate ever drops below the first-year rate, the policyowner may cancel the policy with no surrender charges. Additionally, there are no service or administrative fees.
Policy Form #SA32, R502, R503 (or state variation). Product and riders may not be available in all states.
