Index Institute
At least 70% of Americans over age 65 today will require
long term care (LTC) services during their lives.1


Many life insurance plans can pay an accelerated death benefit through a policy rider to help cover LTC expenses. While the majority of riders offered by life insurance plans cover chronic illness situations a few leading insurers offer a broader option called a long term care services rider.

Learn about the significant differences between Long
Term Care and Chronic Illness riders such as:

  • Which rider requires a permanent condition, and which rider only requires a condition that is expected to last 90 days or longer and can be used for multiple conditions throughout a lifetime
  • What triggers coverage under each rider and what happens once coverage begins
  • How the method of payment can impact the flexibility, coverage period, and possibly even the taxation of benefits received
  • How the death benefit of the policy is impacted when living benefits are paid
  • The difference in elimination periods
  • The difference in the cost of coverage for each rider
Understanding which works best for which situations is critical knowledge, and is essential to helping your clients make the best choice.
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Webinar: Long Term Care or Chronic Illness Rider?




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1 Medicare & You, National Medicare Handbook, Centers for Medicare and Medicare Services, Revised November 2012.

Life insurance underwritten by:

Genworth Life and Annuity Insurance Company, Genworth Life Insurance Company, Richmond, VA
© 2013 Genworth Financial, Inc. All rights reserved.
For Agent/Producer Use Only. Not to be reproduced or shown to the public.

156998LP 10/29/13
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Insights from
the Hill 

- Andy Friedman
Long Term Care or Chronic Illness Rider? Help make an informed choice.
"In reality, most chronic illness riders…have more restrictive terms than the standard LTCI trigger definitions, so the prohibition of marketing those plans as LTCI is appropriate."

- Milliman Research Report “Chronic Illness
Accelerated Benefit Riders” April 2012
Entry code: learn
Download this sales idea that provides hypothetical examples of how each rider would benefit the insured.
Hosted by:
Charlie Gipple, CLU
®, ChFC
®
National Director of Index Products

Doug Burkle, ASA, MAAA
Life & Linked Benefit Design Leader

Visit the Accelerated Benefit Rider for Long Term Care Services page on the Index Institute for more information