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.
Chronic illness products
CareShield® Universal Life (CareShield)
Universal life policy with built-in accelerated death benefits for chronic illness
- Individuals seeking both life insurance coverage and chronic illness benefits
- Desires lifetime guaranteed premiums
- Guaranteed premiums will never increase
- Life insurance death benefit that can be accelerated for chronic or terminal illness
- Return of premium option1
- Cash indemnity benefits can pay for care or anything clients choose
How it works
- Client pays annual, semi-annual, quarterly or monthly premiums
- CareShield provides benefits:
- Tax-free death benefit
- Monthly 4% acceleration of death benefit for chronic illness2
- Terminal illness benefit2
- 50%, 75% or 100% Return of premium after 15, 20 or 25 years
1. Only available at given premium refund anniversaries extending 60 days beyond each premium refund anniversary. The premium refund may not equal the sum of premiums paid. Currently, the premium refund cannot exceed 85% of the policy face amount. Insurance coverage terminates if the premium refund is exercised.
2. Benefits will be paid to the owner upon the insured meeting eligibility requirements.
The policy may not cover all of the costs associated with chronic or terminal illness. This product 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 product is not a state-approved Partnership for Long Term Care Program product, and is not a Medicare Supplement policy. Receipt of chronic or terminal illness benefit payments under this product may adversely affect eligibility for Medicaid or other government benefits or entitlements.
The accumulation value, surrender value, loan value, and death benefit will be reduced by a chronic or terminal illness benefit payment under this agreement.
Due to uncertainty in the tax law, chronic or terminal illness benefits paid from this policy may be taxable. 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. Please ensure that your clients consult a tax advisor regarding the chronic or terminal illness care benefit payments, or when taking a loan or withdrawal from a life insurance contract.
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. Please keep in mind that the primary reason to purchase a life insurance product is the death benefit.