Features and Benefits:
Coverage for Nursing Facility Care
You can now have peace of mind knowing your selected Daily Benefit will help pay for expenses incurred, up to the maximum benefit elected (180, 270 or 360 days), if you are in need of skilled, intermediate or custodial care in a nursing facility.
Coverage for Assisted Living Facility Care
If you need assistance that does not require 24 hour care, but you are still in need of services provided in an institutional setting, 75% of the Daily Benefit you selected can help pay for expenses in an assisted living facility for the maximum benefit selected (180, 270 or 360 days).
Lifetime Elimination Period
You have the option to select either a 0 or 20 day Elimination Period. The Elimination Period is the number of days you must receive services which would qualify for reimbursement under your certificate before benefits begin. During the Elimination Period you are responsible for all expenses incurred. Once your Elimination Period has been satisfied, benefits will be paid in accordance with the certificate provisions. Once you satisfy the Elimination Period, you never have to satisfy it again.
Lifetime Maximum Benefit
A Lifetime Maximum Benefit is available for 180, 270 or 360 days. After the Elimination Period, you will receive benefits for each day of care up to your maximum benefit as shown in the Schedule of Benefits. If your maximum benefit is fully exhausted coverage will be terminated.
Restoration of Benefits
Should your stay require less than your maximum benefit and you qualify for a Restoration of Benefits as defined in the policy, full benefits will be restored up to a total of two times your maximum benefit during your lifetime.
Bed Reservation Benefit
If you are hospitalized while receiving benefits in a nursing facility or assisted living facility, the Company will continue to pay a benefit for a charge made to reserve your accommodations in the facility for up to 21 days per calendar year.
Optional Inflation Protection Riders
Compound Inflation Protection - On the first anniversary date of this Rider and on each subsequent Certificate anniversary date, we will automatically increase the Maximum Daily Benefit Amounts (for nursing facility care and assisted living facility care) listed in the Certificate’s schedule of benefits. The automatic annual increase will be equal to 5% of the Maximum Daily Benefit in effect on the most recent anniversary.
Simple Inflation Protection
On the first anniversary date of this Rider and on each subsequent Certificate anniversary date, we will automatically increase the Maximum Daily Benefit Amounts (for nursing facility care and assisted living facility care) listed in the Certificate's Schedule of Benefits. The automatic annual increase will be equal to 5% of the initial Maximum Daily Benefit Amounts shown in the Schedule of Benefits on the date of issue of your Certificate. Annual increases will not be compounded. After 20 years, the amount will remain level at 200% of the original amount issued.
Waiver of Premium
You won’t need to worry about making your premium payments if you are confined to a covered facility, such as a nursing or assisted living facility. Your premium payments will be waived during your stay. Premium payments must resume once you are discharged from the facility.
You can receive a 10% discount when you and your spouse apply for coverage and are both approved.
Coverage for Pre-existing Conditions
Pre-existing conditions disclosed on the application will be covered immediately.
Policy Form Series 2090 may not be available in all states.
The policy has exclusions and limitations. Benefits may vary by state.
This product is not available in AK, AL, CA, CT, DC, FL, HI, KS, MA, ME, MN, ND, NH, NJ, NY, SD, VT, WA