This crash course on SecureCare III's nuts and bolts should practically be required viewing.
3 things to know about SecureCare™ III
What’s the deal with SecureCare III? Glad you asked. We’ve boiled it down to 3 essential features.
SecureCareTM III is a long-term care (LTC) and nonparticipating whole life insurance policy.
Insurance products issued by Minnesota Life Insurance Company
Please keep in mind that the primary reason to purchase a life insurance product is the death benefit.
Guarantees are based on the claims paying ability of the issuing company.
Life insurance products contain fees, such as mortality and expense charges, and may contain restrictions, such as surrender periods.
SecureCare III may not be available in all states. Product features, including limitations and exclusions, may vary by state.
SecureCare III includes the Acceleration for Long-Term Care Agreement and Extension of Long-Term Care Agreement. These two agreements are tax qualified long-term care agreements that cover care such as nursing care, home and community-based care, and informal care as defined in the agreement. These agreements provide for the payment of a monthly benefit for qualified long-term care services. These agreements are intended to provide federally tax qualified long-term care insurance benefits under Section 7702B of the Internal Revenue Code, as amended. However, due to uncertainty in the tax law, benefits paid under these agreements may be taxable. Please ensure that your clients consult a tax advisor regarding long-term care benefit payments, or when taking a loan or withdrawal from a life insurance contract.
Additional agreements may be available. Agreements may be subject to additional costs and restrictions. Agreements may not be available in all states or may exist under a different name in various states and may not be available in combination with other agreements.
The death proceeds will be reduced by a long-term care or terminal illness benefit payment under this policy. Clients should consult a tax advisor regarding long-term care benefit payments, terminal illness benefit payments, or when taking a loan or withdrawal from a life insurance contract.
These materials are for informational and educational purposes only and are not designed, or intended, to be applicable to any person's individual circumstances. It should not be considered investment advice, nor does it constitute a recommendation that anyone engage in (or refrain from) a particular course of action. Securian Financial Group, and its subsidiaries, have a financial interest in the sale of their products.
Securian Financial is the marketing name for Securian Financial Group, Inc., and its subsidiaries. Minnesota Life Insurance Company and Securian Life Insurance Company are subsidiaries of Securian Financial Group, Inc.
For financial professional use only. Not for use with the public. This material may not be reproduced in any way where it would be accessible to the general public.