Nemours now offers permanent life with long-term care (LTC) benefits that protects your family with life insurance and LTC coverage. Its portable so if you decide to leave Nemours you can take the coverage with you. This benefit is in addition to the group life insurance provided by Nemours and gives you an option to buy additional coverage with no medical questions. This is a great way to cover final expenses and nuisance debt to remove any burden from your dependents. Additionally, the LTC feature will pay you a monthly benefit if care is ever needed. It’s a great way to purchase this important benefit to cover long-term care needs with no medical questions.
If you need LTC, you can access your death benefit, while you are living, for home health care, assisted living, adult day care and nursing home care. You get 4% of your death benefit per month while you are living for up to 25 months to help pay for long-term care. Insurance premiums are waived while this benefit is being paid.
This plan has an extension of benefits provision which extends the monthly LTC benefit for up to an additional 50 months (75 months total) after 100% of the base death benefit has been used for such care.
This plan also has a death benefit restoration provision. Ordinarily, accelerating your life coverage for LTC benefits can reduce your death benefit to $0. While in force, this rider restores your life coverage to not less than 50% of the death benefit on which your LTC benefits were based, not to exceed $50,000. This rider assures you that a death benefit will be available for your beneficiary until you reach age 121.