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Long-Term Care & Chronic Illness Protection
Healthcare costs can threaten even the best-laid financial plans. We help you stay prepared with Long-Term Care and Chronic Illness Riders that protect your retirement income and give your family peace of mind.
These riders offer flexibility, helping you cover the cost of in-home care, assisted living, or nursing facilities—without draining your savings.
Long-term care can be a significant expense in retirement. We offer solutions to protect your assets and ensure you receive the care you need:
- Long-Term Care Insurance: Coverage for services like nursing home care, assisted living, and in-home care.
- Chronic Illness Riders: Add-ons to life insurance policies that provide benefits if you’re diagnosed with a chronic illness.
Important Facts:
- The median annual cost of nursing home care is approximately $108,405.
- Only 3% to 4% of adults over age 50 have long-term care insurance.
As life expectancy increases, so does the need for long-term care and chronic illness protection. These services help cover the costs of care that health insurance and Medicare typically don’t, such as help with daily living activities, in-home nursing, or assisted living facilities.
Why It’s Indispensable:
- Preserve Retirement Savings: Without protection, long-term care costs can quickly deplete your assets.
- Maintain Independence: Choose the type of care you receive and where you receive it.
- Support for Family Caregivers: Reduce emotional and financial stress on loved ones.
Secure the Support You’ll Need—When You Need It Most.
Planning for long-term care isn’t just a financial decision—it’s a family one. You protect your savings, your choices, and your loved ones’ peace of mind.
Costs & Concerns:
- The average annual cost of a private room in a nursing home is $108,405.
(Genworth Cost of Care Survey, 2024) - 7 in 10 people aged 65+ will need some type of long-term care during their lifetime.
(U.S. Department of Health and Human Services) - Only about 3% to 4% of adults have long-term care insurance.
(LIMRA)
Chronic Illness Protection:
- Often built into life insurance policies as a rider, chronic illness benefits provide access to part of your death benefit early if you are diagnosed with a qualifying illness (such as cancer, heart disease, or Alzheimer’s).
- Gives financial flexibility to pay for treatments, in-home support, or home modifications—without going into debt.
What It Covers:
- Nursing home or assisted living care
- In-home care and therapy
- Adult daycare
- Hospice or respite care
- Memory care
