Long Term Care Re-Imbursement or Indemnity Plans available to help cover your expenses in a nursing home and/or at home. Most plans pay proceeds after a selected waiting period after the insured can no longer perform 2 of the activities of daily living.
- Some policies can be purchased with monthly or annual premiums. Most of the products have premiums that are suspect to change.
- Some policies allow for a large, single lump sum premium. They provide a death benefit if you die, long term care benefits if you can’t perform 2 of the activities of daily living or cash value if you surrender the policy.
- Many low cash value, guaranteed premium universal life policies now have critical illness and chronic illness long term care riders.