Allstate Whole Life Insurance with Accelerated Death Benefits for Long-Term Care  (home health care, adult day care, assisted living and nursing home care)

​

Here are some of the questions you should be asking yourself.

​

• Do I have a life insurance policy that is guaranteed to last to age 100?

• Does my spouse or do i need additional coverage for final expenses, survivor benefits or gifts to loved ones?

• Do you have a plan to pay for long term care expenses?

​

Based on these answers, now might be the time consider a permanent Allstate Whole Life Insurance Policy. 

​

Portable

​

The Life Insurance policy is yours and you may take the coverage with you, if you retiree or leave your job.

​

Long-Term Care Benefit Rider Details:  

 

For Nursing Home, Assisted Living Facilities, Home Health Care, and Adult Day Care

​

The amount of money available if chronically ill will be 4% of your life insurance death benefit is available each month.  If a physician certifies that you are chronically ill according to the rider definitions, you will be paid 4% of your life insurance death benefit each month until 100% of your benefit has been used--up to 25 months. There is a 30-day waiting period after the effective date of- this policy before this benefit can be used in case of sickness or accident causing a need for long-term care.

​

Benefit Triggers - unable to perform 2 out of 6 activities of daily living or cognitive impairment.

​

• Bathing • Continence • Dressing • Transferring • Toileting • Eating

​

30 day waiting period from policy effective date

90 day elimination period once chronically ill

​

Extension of Benefits Rider

​

What happens when an employee takes enough monthly advances that all of the life insurance benefit is gone? The policy has an Extension of Benefits Rider to keep the monthly payments coming for an additional 25 months.

​

Here’s how it works: (see flowchart below)

​

If at the end of the 25 months described above an employee has used all of the death benefit and are still ill, the death benefit will be increased by 4% so payments can continue for up to twice as long: an additional 25 months. If all of the additional death benefit amount is used, the policy will end.

​

If you purchase a $100,000, a pool of money for long term care expenses is $200,000.

​

Death Benefit Restoration Rider

​

The death benefit restoration rider restores 100% of the original face amount regardless of how much long-term care benefits were used.  

​

If you were to exhaust the policy by using as little as 1 month or 50 months of long-term care benefits, your beneficaries still receive the original life insurance amount. Bring the total potential benefit to 3x the original face amount.  

​

The flowchart below show an example of purchasing $100,000.  For more descriptive explanation, please watch video.