At some point in your life, you could require nursing-home care. Then again, you may not. Either way, you shouldn’t always have to set aside money for something you might never need. That’s why we developed an long term care annuity that grows wealth while simultaneously helping you stay prepared for long-term care costs — if you ever need them. 

As with any annuity, this one grows at a guaranteed minimum interest rate. If you never need long-term care, no problem — the money simply remains a part of your retirement strategy. And in the meantime, you can live with more confidence, knowing you’ll be able to tap into the fund to pay for long-term care, should the need arise.

Annuities with long-term care benefits have become a popular tool in recent years, and your financial professional can help you decide if one is a good fit for you. In the meantime, here are the basics:

• You can fund the annuity with your existing assets (CDs, savings or even another annuity).
• Any policy or long term care annuity can be purchased for a single person or two people, with benefits available for both.
• If you don’t use your policy to pay for long-term care, its cash value is given to your beneficiaries when you pass away. 
• Long-term care protection becomes available when you cannot perform two of the following six activities of daily living: bathing, dressing, eating, continence, toileting, transferring (getting in and out of a chair or bed), or if you have cognitive impairment (such as Alzheimer’s disease).
• The long term care annuity allows for care in your home, adult day care facility, nursing home or assisted living facility. Covered care also includes qualifying hospice care, respite care, caregiver training and supportive equipment.