Kelly Clark

Our Most Important Policy is Trust.®

 
 
Kelly Clark
706-865-2721
Cleveland, GA
 
Thursday, May 17, 2012

Customizing Your Long Term Care Insurance

Cotton States offers a variety of options and coverage on our long term care insurance policies so you can build a personalized plan that helps meet your family’s financial security goals.

In addition to our gold, silver, and bronze packages, you have the option to customize your long term care plan.

Select from one of three plans:

  1. Comprehensive Plan – offers a wide variety of coverage options and benefits
  2. Facility Only Plan – provides coverage for a nursing home or assisted living facility but not home or community care (called the Nursing Home Plan in GA)
  3. Shared Plan – allows a married couple to receive benefits for either or both under one policy

Facility Care Daily Benefit

  • Select the maximum amount that will be paid each day you need to stay in a qualified long term care facility. You can choose any amount from $50 to $350, in $10 increments.
  • You select this amount when you purchase your policy. This amount will not change, unless you select an optional rider that increases the Facility Care Daily Benefit Maximum. Select a daily benefit based on the average cost in your area, or the area in which you plan to retire.

Elimination Period

  • Choose the initial days of care you will be responsible for before insurance benefits are payable (the days of care do not need to be consecutive). You can select 30 days, 90 days, 180 days, or 365 days.

Lifetime Benefit Maximum

  • Select the maximum amount of time the policy will pay benefits. You can choose unlimited coverage, or you can limit your coverage to two, three, four, or five years.
  • If you purchase a Shared Plan with your spouse, you may choose a six-, eight-, or ten-year benefit period.

Home and Community Care Benefit

  • If you purchase a Comprehensive Plan or Shared Plan, you may select either 50 percent or 100 percent coverage for qualified care you receive in your home or community.

Monthly Home and Community Care Option

  • Gives you greater flexibility for paying home and community care charges by changing the daily benefit maximum to a monthly benefit maximum.
  • For example, if you have home care only two or three times a week, you can pay the charges with the monthly benefit rather than being locked into a daily benefit amount. (Not available on the Facility Only Plan or Nursing Home Plan.)

Spousal Benefit Option

  • If you and your spouse have our Shared Plan or two separate policies, and one of you dies after your policy has been in force for 10 years or longer, the Spousal Benefit option allows the survivor’s policy to be paid in full.
  • If one of you dies before the other’s coverage has been in force 10 years, the surviving spouse only pays premiums a total of 10 years.
  • As long as either of you is receiving benefits under the policy, neither of you is required to pay premiums.

Return of Premium on Death Option

  • Returns some or all of your premiums to your beneficiaries if you die before age 80 (not available on the Shared Plan, or on any policy in TN).

Indemnity Benefit Rider

  • Provides the full daily benefit maximum when you require long term care services, even if your actual expenses are less (not available on the Facility Only or Nursing Home Plan).

Restoration of Benefits Rider

  • Allows your benefit period to restore if you fully recover from an illness during which you required long term care, and you remain claim-free for 180 days (not available on the Shared Plan).

Nonforfeiture Benefit Rider

  • Provides a reduced paid-up policy if you lapse or cancel your policy after three years.

Simple Inflation Rider

  • Increases your Facility Care Daily Maximum Benefit by 5 percent of the original Facility Care Daily Maximum Benefit at each policy anniversary date.

Compound Inflation Rider

  • Increases your Facility Care Daily Benefit Maximum and remaining Lifetime Benefit Maximum by 5 percent of the most recent amounts and will take effect on each policy date anniversary.

10-Year Premium Payment Option

  • Allows you to have a paid-up policy in ten years.

Paid-Up at Age 65 Option

  • Allows you to have a paid-up plan at age 65 (not available on the Shared Plan).

Having a long term care plan is an important part of your overall financial picture.

Call me today – I’ll work with you to help you create your plan.

Learn more

The facts about long term care insurance

Policies referred to are Comprehensive LTC-500, Facility Only LTC-520, and Shared Benefit LTC-540. In Idaho, LTC-500(ID12/03), LTC-520(ID12/03), and LTC-540(ID12/03). LTC-520 is not available in Oregon. In Wisconsin, LTC-520 is titled Tax Qualified Nursing Home Insurance Policy.

Long term care insurance policies issued by COUNTRY Life Insurance Company®, Bloomington, IL.

This information provides a brief description of the Tax Qualified Long Term Care insurance policies available from COUNTRY Life Insurance Company and is not a statement of contract. Long Term Care insurance is not Medicare Supplement insurance. If issued, the policy will set forth the rights and obligations of you and the issuing company. For cost and further details of the coverage, including exclusions, reductions or limitations, and the terms under which the policies may be continued in force, see your financial representative, refer to the Outline of Coverage, or write COUNTRY Life Insurance Company. “A Shopper’s Guide to Long Term Care Insurance” is also available from your financial representative or the state insurance department. In Wisconsin, the guide is called “Guide to Long Term Care.”

Exclusions:

The policy will not provide benefits for any care or services which: (1) result from an act of war; (2) result from participation in a felony, riot, or insurrection; (3) are provided at no charge in the absence of insurance; (4) result directly or indirectly, from attempted suicide or intentionally self-inflicted injury while sane or insane; (5) are received while outside the United States of America or its territories or possessions; (6) are due to mental or nervous disorders without evidence of organic disease. The policy does provide benefits for treatment of Alzheimer’s disease, senile dementia, other organic brain syndromes or other types of senility diseases; (7) result from alcoholism or drug addiction; (8) are provided by a family member; (9) are payable under a workers’ compensation, occupational disease or employer’s liability law; (10) are provided by or in a Veteran’s Administration or federal government facility. This limitation does not apply where a liability exists for charges made to or on your behalf; or (11) are available under Medicare or other governmental programs (except Medicaid) or would be so reimbursable but for the application of a deductible or coinsurance amount.

ID Rider numbers:

Monthly Home and Community Care Benefit Rider, 1583(12/03); Spousal Benefits Rider, 1582(12/03); Restoration of Benefits Rider, 1585(12/03); Return of Premium on Death Benefit Rider, 1586(12/03); Indemnity Benefit Rider, 1581(12/03); Nonforfeiture Benefit Rider, 1590(12/03); Compound Inflation Rider, 1588(12/03); Simple Inflation Rider, 1579(12/03); Ten Year Premium Payment Option Rider, 1587(12/03); Paid-Up At Age 65 Premium Payment Option Rider, 1584(12/03)

If you would like more information on long term care insurance from your state's senior insurance counseling program, see your financial representative for the program's contact information.

COUNTRY Financial representatives are licensed insurance producers.

LTC REPWS2 (7/10)