Long-term Care
Long-term care is, in its simplest form, assistance for people who suffer a long illness or disability. Long-term care can be provided in the form of nursing home care or as home custodial care, in which a person receives assistance with activities of daily living such as dressing or bathing. Many of these services are not covered by typical health insurance policies or Medicare. Purchasing long-term care insurance or taking advantage of riders available through life insurance is one way to help pay for it.

The insurance rider has exclusions, limitations, reductions of benefits, and/or terms under which the rider may be continued in force or discontinued. For costs and complete details of the coverage, call or write your agent or company. Many long-term care insurance policies allow you the flexibility to make your own choices about services you receive - and where - as well as different levels and options for care. A long-term care insurance rider is another option for long-term care benefits. The rider is something you can add to a life insurance policy to provide you benefits you might need during your lifetime. It typically offers a policyholder access to their death benefit* to help cover the costs associated with either a terminal or chronic illness. The long-term care rider's benefits are calculated based on costs for qualified long-term care services up to a monthly limit specified in the rider.

Considering long-term care coverage is an important consideration during middle age. As you get older, you typically risk health problems that can make your premiums too high, or you may even be uninsurable. While premiums will never typically be inexpensive, you need to evaluate your current situation, and assess the impact on your future as much as possible. If you require long-term care, think about what the impact will be on you, your family and the retirement assets you’ve worked so hard to accumulate.

Here Are Some Resources Which May Be Helpful
Guide to Long Term Care (AARP)
Long-term Care Clearinghouse (U.S. Department of Health and Human Services)

*The use of living benefits will reduce a policy's cash surrender value and death benefit and may result in a taxable event.

Riders are optional and available at additional cost. Riders are not available in all states. Long-term care insurance is available through representatives who are independently contracted with one or more insurers who provide these types of insurance contracts. Long-term care insurance is not underwritten nor issued by National Life Insurance Company.