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Chronic Illness Access Agreement (CIAA)

Chronic Illness Access Agreement (CIAA) provides a chronic illness benefit payment through an acceleration of death benefit when the insured is chronically ill.1 There is no underwriting or charge for this agreement, however, when a chronic illness benefit payment is made, the amount of death benefit accelerated will be greater than the chronic illness benefit payment.

This agreement is well suited for accumulation-focused policies where, in addition to the death benefit, the cash value accumulation is an important goal.

Benefits

  • Chronic illness benefit payment through an acceleration of death benefit when the insured is chronically ill
  • Tax advantaged source of funds
  • No underwriting required or monthly charge
  • Freedom to save or spend benefit payments any way your client chooses

Details

Issue ages

0 - 80 years old based on age at nearest birthday

Maximum annual benefit

  • 25% of the face amount
  • Benefit payment cannot exceed the per diem amount allowed by the IRS multiplied by the number of days in the calendar year

Elimination period

90 calendar days

Benefit payments

One chronic illness benefit payment will be made in any 12-month period measured from the date of the most recent chronic illness benefit payment

Benefit eligibility

  1. The insured must be a chronically ill individual
  2. The elimination period must be satisfied
  3. A chronic illness benefit payment has not been made within the prior 12-month period
  4. The policy must be in force

Impact to base life insurance policy upon benefit payment(s)

  • Life insurance death benefit and surrender value are reduced
  • Accumulation value is adjusted
  • A portion of the CIAA benefit will be applied to outstanding loans, if applicable

 

Products

Products with the Chronic Illness Access Agreement:

 

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Next steps

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Please note: CIAA is not approved for sale in New York or California.

  1. Chronically Ill Individual: All states except NY: Insured has been certified by a licensed health care practitioner within the preceding 12-month period as: (1) being unable to perform, without substantial assistance, at least two Activities of Daily Living due to loss of functional capacity (activities that include eating, bathing, toileting, continence, dressing and transferring) for period of at least 90 days3 or (2) requiring substantial supervision to protect the insured from threats to health and safety due to severe cognitive impairment. (Confinement due to medical condition is required to be permanent in CT.)
  2. Distributions under this agreement, as with any policy loans and withdrawals, may create an adverse tax result in the event of a lapse or policy surrender, and will reduce both the surrender value and death benefit. Depending on actual policy experience, the policy owner may need to increase premium payments to keep the policy in force. The policy will not lapse while LTCA benefit payments are being made.
  3. Recertification by a licensed health care practitioner that the insured is chronically ill will be required, at minimum, on an annual basis.

The Chronic Illness Access Agreement may not cover all of the costs associated with chronic illness. The Agreement is generally not subject to health insurance requirements and does not provide long-term care insurance subject to state long-term care insurance law. This Agreement is not a state-approved Partnership for Long Term Care Program Agreement and is not a Medicare supplement policy. Receipt of chronic illness benefit payments under this agreement may adversely affect eligibility for Medicaid or other government benefits or entitlements.

The Chronic Illness Access Agreement is a life insurance policy agreement that provides an option to accelerate the death benefit in the event that the insured becomes chronically ill.

The accumulation value, surrender value, loan value, and death proceeds will be reduced when a chronic illness benefit payment is made under this agreement. The death proceeds will be reduced by the accelerated death benefit amount.

Due to uncertainty in the tax law, chronic illness benefits paid from a life insurance contract may be taxable. Please ensure that your clients consult a tax advisor regarding chronic illness care benefit payments 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.

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 insurance company.

Life insurance products contain charges, such as Cost of Insurance Charge, Cash Extra Charge, and Additional Agreements Charge (which we refer to as mortality charges), and Premium Charge, Monthly Policy Charge, Policy Issue Charge, Transaction Charge, Index Segment Charge, and Surrender Charge (which we refer to as expense charges). These charges may increase over time, and these policies may contain restrictions, such as surrender periods. Policyholders could lose money in these products.

Policy loans and withdrawals may create an adverse tax result in the event of lapse or policy surrender, and will reduce both the surrender value and death benefit.  Withdrawals may be subject to taxation within the first fifteen years of the contract. Clients should consult their tax advisor when considering taking a policy loan.

This information is a general discussion of the relevant federal tax laws provided to promote ideas that may benefit a taxpayer. It is not intended for, nor can it be used by any taxpayer for the purpose of avoiding federal tax penalties. Taxpayers should seek the advice of their own advisors regarding any tax and legal issues specific to their situation.

Insurance products issued by Minnesota Life Insurance Company

Policy form numbers: ICC16-20083, 16-20083 and any state variations; ICC19-20204, 19-20204 and any state variations

The information presented above is solely intended for use by financial professionals. Such information is not intended for public consumption or dissemination.

For financial professional use only. Not for use with the public. This material may not be reproduced in any form where it is accessible to the general public.

DOFU 8-2025

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