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 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 legacy – for the long-term.
Long-term care products
SecureCare Universal Life (SecureCare)
Hybrid life/LTC, single-premium, permanent life insurance policy with indemnity-style long-term care benefits, issued by MINNESOTA LIFE INSURANCE COMPANY
- Individuals with the primary need to cover potential long-term care expenses
- Desires benefits that may keep up with inflation
- Desires a single-premium solution
- Individuals with enough assets to cover retirement income needs
- Simplicity of traditional indemnity benefits only requires clients to show they received informal care or at least $1 of qualified LTC expenses to receive up to the full monthly benefit
- Flexibility to customize coverage period
- Enhance coverage through inflation protection option
- Freedom to choose where and how clients receive care
How it works
- Client funds the policy with a one-time, lump-sum premium and can choose among the following:
- LTC benefit period (2–7 years)
- Inflation protection (3% simple, 5% simple, 5% compound)1
- Return of premium upon policy surrender (80% after first year, up to 100% return of premium beginning the sixth year)2
- If LTC benefits are exhausted, minimum death benefit of 10% of face amount or $10,000 — whichever is less
1. If the Long-Term Care Inflation Protection Agreement is elected at time of policy application, you must take the maximum monthly long-term care benefit payment upon eligibility for benefits in order for benefits to be payable.
2. Upon surrender, the policy owner will receive the greater of the surrender value and the return of premium value minus any benefit payments received minus any indebtedness. The return of premium 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.
SecureCare may not be available in all states. Product features, including limitations and exclusions, may vary by state.
SecureCare is a single premium universal life policy with tax qualified long-term care benefits that cover care such as nursing care, home and community based care, and informal care as defined in this policy. This policy provides for the payment of a monthly benefit for qualified long-term care services. This policy also provides an accelerated death benefit for terminal illness. This policy is intended to provide tax qualified long-term care insurance benefits under Section 7702B and tax-free accelerated death benefits for terminal illness under Section 101(g) of the Internal Revenue Code, as amended. However, due to uncertainty in the tax law, benefits paid under this policy may be taxable. Please ensure that your clients 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.
The purpose of this material is the solicitation of insurance. An insurance agent or company may contact you.
ICC16-20047, ICC16-20047U, 16-20047 and any state variations; ICC16-20048, ICC16-20048U, 16-20048 and any state variations; ICC16-20049, 16-20049