You want to live out the last days of your life as comfortably and with as much dignity as possible. Whether you prefer home health care or living in a nursing home, preparation can reduce the expense and burden of long-term care on your loved ones. If you never need care, your asset passes to the next generation and becomes part of your legacy — making asset-based long-term care an innovative alternative to traditional long-term care insurance.
Life Insurance with Long-Term Care Benefits
Discover life insurance that can give you options. Use it during your lifetime to help pay for care in your home, care in a facility, or other long-term care services. If you don’t need care, you can access the cash value during your life or make the death benefit part of your financial legacy.
Annuities with Long-Term Care Benefits
Invest in a fixed annuity to efficiently use the assets you have earmarked for long-term care. Use the annuity’s value to cover your first few years of care, then protect yourself beyond that with an optional coverage extension*. Access to the long-term care benefits can even be income tax-free.
*Option at additional cost
Funding long-term care costs with annuities or life insurance may not be a suitable strategy for everyone. For example, your assets may not be sufficient to cover all of the costs associated with long-term care. In addition, long-term care insurance may provide certain protections that asset based long-term care does not.
These policies have exclusions and/or limitations. The cost and availability of Long Term Care insurance depend on factors such as age, health, and the type and amount of insurance purchased. As with most financial decisions, there are expenses associated with the purchase of Long Term Care insurance. Guarantees are based on the claims paying ability of the insurance company.
