Understanding the Difference: Asset-Based Long-Term Care protection vs. Long-Term Care Insurance

Understanding the Difference: Asset-Based Long-Term Care protection vs. Long-Term Care Insurance

Understanding Asset-Based Long-Term Care

One day you or your spouse may need long-term care (LTC) services. In fact, almost 70% of adults age 65 will need long-term care (LTC) in their lifetime. 20% will require LTC for more than 5 years¹. If you’re among them, will you have the financial resources to keep you in your home? To get the kind of care you desire, plan ahead for the expense of home health care, assisted living and nursing home care.

Asset-based Long Term Care protection

This protection can help you prepare for your future and protect your retirement with:

• Premiums to fit your budget. You can pay all at once, over 10 years, over 20 years or over your lifetime to suit your budget.
• Income-tax free benefits to help pay for home health care, extended care, nursing home stays and more.
• Single and joint life coverage to cost effectively cover two people.

Different than traditional long-term care insurance

Unlike traditional LTC insurance, Asset-based protection offers:

• Premiums guaranteed to never increase, ensuring your peace of mind
• A guaranteed death benefit for your loved ones if LTC is never needed
• Guaranteed cash value growth, returned to you if you choose
• Optional lifetime LTC benefits

Learn more about the difference between Asset-based protection and standalone LTC insurance options:

Asset-based LTC Protection

Premiums

Guaranteed to never increase

Not guaranteed to never increase

Coverage length

Opportunity for lifetime LTC benefits if selected

LTC benefits end in the future

LTC benefits

Provides a monthly LTC benefit to help cover cost of home health care, nursing home care, assisted living and more

Provides a monthly LTC benefit to help cover cost of home health care, nursing home care, assisted living and more

¹Source: "How Much Care Will You Need?” Longtermcare.gov. https://longtermcare.acl.gov/the-basics/how-much-care-will-you-need.html. Last modified: 7/23/2017.