ProdMod: Have You Checked Out the New Player in Asset-Based LTC? SecureCare from Minnesota Life
AdminUpdate: Mutual of Omaha Makes it Easy to “Super Size” Your Next Case
April 12, 2017ProdMod: Have You Checked Out the New Player in Asset-Based LTC? SecureCare from Minnesota Life
The increasing level of concern around the cost of Long-Term Care in both current and prospective retirees has generated an equal level of interest from insurance companies. The result? There are more options than ever in the asset-based Long-Term Care space than ever, and the latest entrant, SecureCare from Minnesota Life. Is worth a look on your next case.
SecureCare is a UL contract with the following key features:
- Strong guarantees including:
- Premiums
- Long-term care (LTC) benefits
- Death benefit
- Return of premium: 80% in year 1, automatically increasing to 100% in year 6+
- Optional inflation protection
- Base Benefit Period of 2 or 3 years
- Optional extension of LTC benefits for an additional 2 or 4 years
- Indemnity style LTC benefit payout
- Benefits for informal care and care outside the U.S.
- Home modification and caregiver training benefits available before the elimination period has been satisfied.
Additional Details:
