You may have money set aside in savings or investments to self-fund your long-term care costs, but you may sacrifice growth opportunities or risk exposure to equity market volatility. Many people turn to traditional long term care insurance; however, if you do not use the coverage, you lose the money and it can be quite costly.
What you need is a strategy that:
- Offers growth potential
- Maximizes your long-term care dollars
- Allows you to pass on unused funds to your beneficiaries
You need ForeCare, an innovative fixed annuity with long-term care benefits that provides a multiple of your contract value for qualified long-term care expenses.
Because ForeCare is a fixed annuity you can participate in both protection and accumulation benefits:
- The interest crediting is guaranteed to never drop below 1%
- The growth of your contract value is tax-deferred
- You don’t risk equity exposure
Unlike a traditional long-term care product, with ForeCare any contract value not used for long-term care expenses can be passed to your beneficiaries as a death benefit. However, there is a monthly cost associated with the long-term care benefits rider, which is based on the insured’s issue age.
ForeCare also offers other unique benefits.
- Principal protection – Your contract value at monthend is never reduced below the contract value at the prior month-end (less any applicable withdrawals) due to the cost for the long-term care benefits rider.
- Tax advantages – Qualified long-term care withdrawals are typically federal income tax-free and your contract growth is tax-deferred.
- 2x/3x coverage – Provides double or triple the amount of the contract value for qualified long-term care expenses.