Life Insurance with Long-Term Care | The Standard

Life Insurance with Long-Term Care | The Standard
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Life Insurance with Long-Term Care*

Combined coverage to help protect what matters the most when it’s needed the most.
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Here's what you need to know

Protecting your loved ones is one of life’s greatest responsibilities. When a family loses someone, in addition to grief, survivors may suddenly be faced with costly expenses and debts and even a loss of income. You may also, at any point in your life, need long-term care services, which could cost hundreds of dollars per day. Many families would have trouble paying for living expenses if they lost their primary earner.

 

Life Insurance with Long-Term Care combines the benefits of long-term care with life insurance which can be utilized for long-term care, home healthcare, adult day care, or assisted living. Many people have concerns about protecting their family's future should something happen to them. Adding to these concerns is the likelihood that they will need long-term care. Even if you don’t end up needing the long-term care benefits, you have a life insurance benefit that you may use – ensuring value from this coverage.

 

Why should you consider Life Insurance with Long-Term Care?

 

  • Combined coverage: get both permanent life insurance (death benefit) and care benefits for one rate.
  • Benefits can help with the cost of care when the time comes, so you can avoid depleting your retirement savings or overburdening family members.
  • Care benefits can help pay for professional caregiving services including home health care, assisted living, adult day care and more.

With a premium that never changes and the ability to use the policy for long-term care costs, a whole life policy protects your beneficiaries from the expenses that can burden them before and after you’re gone.

  • Supplemental personal life insurance can allow you to potentially decrease the financial risk you and your loved ones might face if you pass away or are unable to provide for them, providing complete coverage.
  • The need for long-term care can arise unexpectedly, and the high cost of long-term care can rapidly deplete your savings if you are not well prepared. Long-term care coverage, however, can assist you with the long-term care costs related to receiving care at home or in a facility, providing you with coverage no matter what happens.
You may enroll as a new hire or if you experience a qualifying life event. For any other enrollment, you must wait until the annual enrollment period or a special enrollment period designated by Randstad.

How It Works

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Enroll in coverage

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You are unable to perform 2 or more basic activities of daily living

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You get the necessary care

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Your Life Insurance with Long-Term Care helps with the cost of care 

You’re making a plan to ensure your family has solid financial footing.

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Frequently Asked Questions

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  • Who is the provider?
    Your employer made arrangements with Mercer Voluntary Benefits to offer you access to a Life Insurance with Long-Term Care benefit. This service will help your needs and offer you options from The Standard.
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  • Who in my family is eligible for this program?
    Take advantage of this opportunity to secure this important coverage for yourself and your spouse/domestic partner. Eligible employees include anyone aged 18-70 working 20 hours or more per pay period. Eligible employeeaged 71-80 will be underwritten and will not have the LTC rider available to them.
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  • What if my employment status changes?
    When you leave or retire from your current employer, you can continue your coverage without interruption. Although payroll deduction will no longer be available if you retire or leave your company, you can opt for bank account deduction.
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  • How much does this coverage cost?
    Your cost is based on several factors, including your age, any special features you select, and the amount of coverage you want.
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  • Won’t the federal government pay for my long-term care?

    Medicare provides minimal financial support for LTC services. Medicare was designed to pay for acute medical conditions and post-rehabilitative care; it was not intended to pay for costs associated with LTC. To qualify for nursing home care under Medicare, a three-day hospital stay is required, and care must be rehabilitative in nature. If these conditions are met, Medicare will pay for the first 20 days. Days 21-100 require a co-payment. There is no coverage after day 100.
*Product is Group Whole Life with Accelerated Death Benefit for Long Term Care with Restoration of Benefits and Extension of Benefits.

Are you ready to enroll?

Act now so your Life Insurance with Long-Term Care benefit is in place no matter what unfolds in the future.
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Do You Need Help?

Our team is ready

M-F 8a-5p CT

Phone Number: 1-888-890-4573

  • Carrier Disclaimers

    Group Whole Life Insurance benefits are provided under form GWLP, or state variations thereof. The rider benefit is provided under the following forms, or state variations thereof: Accelerated Death benefit for Long Term Care with Restoration of Benefits and Extension of Benefits (GWPLTC[RE]1). Group Whole Life Insurance is underwritten by American Heritage Life Insurance Company (Home Office, Jacksonville, FL). This is a brief overview of the benefits available. Details of the coverage, including exclusions and other limitations are included in the certificates issued.

     

    The Standard is the marketing name used for American Heritage Life Insurance Company, Home Office, Jacksonville, Florida, a wholly owned subsidiary of StanCorp Financial Group, Inc.

  • Mercer's Role & Compensation
    View details of Mercer's disclosure of compensation