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Solutions to help protect your clients’ assets

Long-term care insurance gives individuals flexibility when deciding when and how they would like to receive care, should they become chronically ill. In addition, it can help protect their assets from the costly expenses associated with care, particularly over long periods of time.

Securian Financial offers tax-advantaged, long-term care (LTC) and chronic illness (CI) solutions to address a wide range of client needs. Help your clients secure their care, their assets and their future – for the long-term. 

Long-term care products

SecureCare Universal Life (SecureCare)

Hybrid life/LTC, permanent life insurance policy with an accelerated long-term care agreement that provides cash indemnity-style long-term care benefits, issued by MINNESOTA LIFE INSURANCE COMPANY.

Ideal client

  • Individuals with the primary need to cover long-term care expenses
  • Desires benefits that may keep up with inflation
  • Looking for long-term care protection with additional guarantees
  • Desires a guaranteed premium long-term care solution

Benefits

  • Simplicity — cash indemnity benefits allow your client to spend their benefit payments however they choose.
  • Flexibility — customizable coverage with the option to purchase one of four inflation protection options and select from multiple premium schedules.
  • Freedom — choice in how and where clients receive care.
  • Guarantees — LTC benefits, death benefit, return of premium and reduced paid-up benefit (multi-year premium options only).

How it works

Client elects their premium schedule (single or multi-year-5, 7, 10 or 15 year) and customizes their policy:

  • Initial long-term care benefit period - client receives a monthly acceleration of death benefit for either 2 or 3 years with the Acceleration for Long-Term Care Agreement.
  • Extend their benefits - Adding our optional Extension of Long-Term Care Benefits Agreement to the policy increases benefit payments for an additional 2 or 4 years, extending the total benefits up to a maximum of 7 years. 
  • Long-Term Care Inflation Protection Agreement - 3% simple, 5% simple, 3% compound, 5% compound

Client receives these benefits:

  • LTC Benefit — a tax-advantaged monthly benefit to help cover expenses associated with their care should they become chronically ill.
  • Death Benefit — beneficiaries will receive a death benefit, even if they exhaust their entire long-term care benefit.
  • Return of Premium1 — a refund of premiums paid if they no longer desire coverage subject to applicable vesting schedule.
  • Reduced Paid-Up Benefit — If your client stops paying premiums, they'll receive a reduced paid-up benefit for the rest of their life.

1. Upon surrender, the policy owner will receive the surrender value proceeds. The surrender value proceeds may not equal the sum of premiums paid. Surrenders are subject to a return of premium vesting schedule. Policies that are fully vested are eligible for a full return of all premiums paid.

Please keep in mind that the primary reason to purchase a life insurance product is the death benefit. SecureCare is a life insurance policy that provides long-term care benefits and an accelerated death benefit for terminal illness. Other terms and conditions apply.

Insurance policy guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company.

The Acceleration for Long-Term Care Agreement and the Extension of Long-Term Care Benefits Agreement 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 tax qualified long-term care benefits under section 7702B of the Internal Revenue Code, as amended. However, due to uncertainty in the tax law, benefits paid under this agreement may be taxable. Please ensure that your clients consult your tax advisor regarding long-term care benefit payments or when taking a loan or withdrawal from a life insurance contract.

SecureCare may not be available in all states. Product features, including limitations and exclusions, may vary by state.

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 purpose of this material is a solicitation of insurance. An insurance agent or company may contact you.

For use in Delaware, District of Columbia, and states where this product is available under the Interstate Insurance Product Regulation Commission (IIPRC).

 

ICC17-20103, 17-20103 and any state variations; ICC17-20111, 17-20111 and any state variations; ICC17-20112, 17-20112 and any state variations;  ICC17-20113, 17-20113 and any state variations

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.

DOFU 2-2018
ICC18-368818