Only available in California.
SecureCare™ Universal Life (SecureCare UL) is a linked-benefit solution that offers four powerful guarantees, ensuring clients are covered whether they need care or not:
Their care, their choice.
SecureCare UL’s cash indemnity benefit for LTC puts clients in control of their care. There’s no fine print about how their benefit can be used. No receipts, no waiting for each expense to be approved. Just cash5. And the care they choose.
Whether a client’s goal is to stay at home and receive care from a loved one or explore group facilities, their cash indemnity benefit will support their care plan — not dictate it.
No one can predict the future, but with SecureCare UL, clients won’t have to try – they’ll be protected no matter what:
SecureCare UL offers a unique combination of benefits, policy design choices and premium options, so you can help clients customize a policy that’s right for them.
Clients can choose either a single- or multi-year premium payment schedule (5, 7, 10 or 15 years). They can also choose the length of their LTC benefit period (2-7 years).
Plus, SecureCare UL offers four optional inflation protection options (3% or 5%, simple or compound). If elected, the LTC benefit will increase by a set percentage each year – even after the client goes on claim.
SecureCare UL’s coverage extends abroad. Clients traveling internationally will have access to 100% of their LTC benefit pool and can receive up to 50% of their maximum monthly LTC benefit with no facility requirement.6 If they return to the U.S., they can receive their full monthly benefit.
Universal life with cash indemnity style LTC (7702B) benefits. This policy is considered a Qualified Long-Term Care contract.
Payment options (can be made direct, online, EFT or 1035 Exchange). For multi-year policies, all premium modes available. Maximum payment age may vary with state of issue.
| Payment | Single-pay | 5-pay | 7-pay | 10-pay | 15-pay |
|---|---|---|---|---|---|
| Age | 40-75 | 40-75 | 40-73 | 40-70 | 40-65 |
$1,500
CVAT & Level
LTC benefit payment type
Cash Indemnity
Increases monthly long-term care benefit at a set percentage annually — even after client goes on claim; options include: 3% or 5%, simple or compound interest
Should the insured fail to complete the premium payment schedule, the policy will provide a reduced paid-up nonforfeiture benefit based on the total premiums paid.
10% of the base face amount or $10,000, whichever is less
Equal to the maximum LTC benefit, not subject to IRS per diem limitations. Client may choose an amount less than the maximum benefit at any time extending the duration that benefits would be available.
The elimination period is 90 calendar days from the date the insured is certified as chronically ill by a licensed health care professional; home modification and caregiver training are accessible during the elimination period.
Receive 50% of maximum monthly benefit for all qualified services, including informal care, outside the United States, its territories or possessions. Benefits are paid in United States currency. If the insured returns to the United States, the non-United States monthly benefit limit will no longer apply.
| Single-pay or 5-pay | 7-pay | 10-pay | 15-pay | ||||
|---|---|---|---|---|---|---|---|
| Year(s) 1 | 80% | Years 1-3 | 80% | Years 1-6 | 80% | Years 1-11 | 80% |
| Year 2 | 84% | Year 4 | 84% | Year 7 | 84% | Year 12 | 84% |
| Year 3 | 88% | Year 5 | 88% | Year 8 | 88% | Year 13 | 88% |
| Year 4 | 92% | Year 6 | 92% | Year 9 | 92% | Year 14 | 92% |
| Year 5 | 96% | Year 7 | 96% | Year 10 | 96% | Year 15 | 96% |
| Year 6+ | 100% | Years 8+ | 100% | Years 11+ | 100% | Year 16+ | 100% |
Your LTC sales team can provide a custom proposal for your next case:
Check out SecureCare III, an LTC and nonparticipating whole life insurance policy.
View SecureCare III1. If owner/insured are different, benefits will be paid to the owner upon the insured being certified as a chronically ill individual. Under certain circumstances, benefits may be taxable.
2. Upon surrender, the policy owner will receive the surrender value proceeds. The surrender value proceeds may not equal the sum of premiums paid. Surrenders are subject to a return of premium vesting schedule. Policies that are fully vested are eligible for a full return of all premiums paid.
3. If owner/insured are different, the death benefit will be paid upon death of the insured.
4. Reduced paid-up benefits refers to the reduced paid-up nonforfeiture benefit that purchases paid-up insurance in the event of premium lapse.
5. Monthly cash benefit will be paid upon the insured being certified by a licensed health care practitioner as a chronically ill individual.
6. Qualified long-term care services received outside the United States, its territories or possessions are limited to the non-United States monthly benefit limit. If the insured returns to the United States, the non-United States monthly benefit limit will no longer apply.
7. Please refer to the financial professional guide and/or application for more details.
8. The caregiver training benefit can be used to pay for training of a friend or family member to provide care to the insured. This benefit can be triggered prior to the elimination period. The maximum benefit is $1,000.
9. Home modification benefit allows the insured to pay for modifications to his/her home, enabling the insured to remain in his/her home longer. This benefit can be triggered prior to the elimination period. The maximum benefit is $5,000.
10. Applies to both the Acceleration for Long-Term Care Agreement and Extension of Long-Term Care Benefits Agreement.
11. Upon surrender, the policy owner will receive the surrender value proceeds. The surrender value proceeds may not equal the sum of premiums paid. Surrenders are subject to a return of premium vesting schedule. Policies that are fully vested are eligible for a full return of all premiums paid.
Please keep in mind that the primary reason to purchase a life insurance product is the death benefit.
Life insurance products contain charges, such as Cost of Insurance Charge, Cash Extra Charge, and Additional Agreements Charge (which we refer to as mortality charges), and Premium Charge, Monthly Policy Charge, Policy Issue Charge, Transaction Charge, and Surrender Charge (which we refer to as expense charges). These policies may contain restrictions, such as surrender periods.
Insurance policy guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company.
SecureCare Universal Life Insurance includes the Acceleration for Long-Term Care Agreement. The Acceleration for Long-Term Care Agreement and Extension of Long-Term Care Benefits Agreement are tax qualified long-term care agreements that cover care such as nursing care, home and community based care, and informal care as defined in these agreements. These agreements provide for the payment of a monthly benefit for qualified long-term care services. These agreements are intended to provide federally tax qualified long-term care insurance benefits under Section 7702B of the Internal Revenue Code, as amended. However, due to uncertainty in the tax law, benefits paid under this agreement may be taxable.
Agreements may be subject to additional costs and restrictions. Agreements may not be available in combination with other agreements.
SecureCare may not cover all of the costs associated with long-term care or terminal illness that the insured incurs. This product is generally not subject to health insurance requirements. This product is not a state-approved Partnership for Long Term Care Program product, and is not a Medicare Supplement policy. Receipt of a long-term care or terminal illness benefit payment under this product may adversely affect eligibility for Medicaid or other government benefits or entitlements.
The death proceeds will be reduced by a long-term care or terminal illness benefit payment under this policy.
Policy loans and withdrawals may create an adverse tax result in the event of lapse or policy surrender and will reduce both the surrender value and death benefit. Withdrawals may be subject to taxation within the first fifteen years of the contract. Clients should consult their tax advisor when considering taking a policy loan or withdrawal.
Clients should consult a tax advisor regarding long-term care benefit payments, terminal illness benefit payments, or when taking a loan or withdrawal from a life insurance contract.
These materials are for informational and educational purposes only and are not designed, or intended, to be applicable to any person’s individual circumstances. It should not be considered investment advice, nor does it constitute a recommendation that anyone engage in (or refrain from) a particular course of action. Securian Financial Group, and its subsidiaries, have a financial interest in the sale of their products.
For financial professional use only. Not for use with the public. This material may not be reproduced in any form where it is accessible to the general public.
DOFU 7-2024
3543080
