Asset-Care®
Asset-Care®
life insurance with LTC benefits issued and underwritten by The State Life Insurance Company
Clients receive a guaranteed amount of life insurance, all of which can be used for qualifying long-term care expenses. In addition, the premium is credited with a guaranteed interest rate and the cash value increases each month.
Asset-Care is whole life insurance that allows access to 100% of its death benefit for qualifying long-term care expenses (paid monthly). Clients can help protect their assets from the risk of long-term care expenses while at the same time receiving guaranteed cash value growth and death benefits. Even if care is never needed, Asset-Care provides value. It can be purchased with a one-time single premium or annual premiums.
Features
- 100% of death benefit available for qualifying long-term care expenses (LTC benefits paid monthly). (See outlines of coverage and illustrations for complete long-term care coverage details.)
- Patented joint-life insurance option provides benefits for both insureds with a second-to-die death benefit
- Optional noncancellable lifetime LTC coverage
- Guaranteed return of premium (Asset-Care I, II and III)
Policy structure
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Asset-Care I: Single-premium whole life insurance
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Asset-Care II: Non-qualified annuity and 20-pay whole life insurance
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Asset-Care III: Individual retirement annuity (IRA) and 20-pay whole life insurance
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Asset-Care IV: Limited (10–20 pay) and continuous premium whole life insurance
Available Options
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Asset-Care Plus rider can provide lifetime extension of LTC benefits with guaranteed premiums
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Inflation protection rider can automatically increase base policy LTC benefits
Issue ages
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40–80 single and joint life (single premium); 20–80 (ongoing premium)
Primary market
- Ages 50–75
Funds accepted
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CDs
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IRAs
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Other qualified funds
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Mutual funds
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Annuities
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Savings and money markets
