Life Insurance and Long-Term Care (LTC) Coverage in One Policy for Two People
The LTC Rider, available on Nationwide YourLife® No-Lapse Guarantee SUL II, offers an affordable way to purchase life insurance protection and help cover long-term care expenses for two people in one policy.
Adding the LTC Rider to your Nationwide YourLife No-Lapse Guarantee SUL II life insurance policy may help you prepare for long-term care expenses and help take care of legacy and estate planning needs for your family.
The LTC Rider may help:
Manage long-term care costs so they don’t deplete your assets
Eliminate clutter as the rider benefits are paid directly to the owner of the policy without the need for monthly receipts or paperwork (it’s what we call a cash indemnity benefit)
Enable you to use excess funds not needed for long-term care services any way you wish (e.g., home safety improvements, prescription medicine, massage therapy)
Give you the opportunity to receive benefits outside the United States*
Protect your family
From financial hardship if there is an extended need for long-term care
By leaving an inheritance to family members (or even a favorite charity) if the benefits from the rider are not needed
Look at a scenario where this long-term care rider may help.
Provide funds to help with the heavy lifting of caring for a spouse
Planning for potential long-term care (LTC) expenses and helping to ensure a legacy for your children becomes increasingly important as you get older. Here’s a typical scenario:
With their kids out of college, Jean and Don, who are both 62, realize it’s time to plan for their own potential LTC needs. After watching their own parents struggle with LTC, Jean and Don don’t want to be in the same boat of having to take care of each other when they are older.
They’re worried LTC coverage is too expensive and don’t want to dip into savings to pay for it.
Most importantly, they want to protect or enhance the legacy for their three children.