Life | rc-benefits

Term Life Insurance with Long-Term Care

Trans Select 10 & 20 Year Term Life Insurance
The Trans Select 10 & 20 Year Term Life Insurance policy is unlike any other term policies available. Here’s why!

Guaranteed Renewable without Medical Evidence
10 & 20 Year Term Period. Very Important - At the end of each term, the coverage will automatically renew unless canceled by the owner. The new premium rate, based on the attained age of the insured and the death benefit, will be presented. The premium change will occur on the group renewal date. Subsequent term periods are 10 or 20 years or until the expiration date, if earlier.

All other term policies requires new underwriting to lock into the term rates or it turns into a policy where the premiums increase each year called an annual renewable term policy.

LTC Rider Details
Whether you select the Permanent or Term Life Insurance, the Long Term Care Rider works exactly the same.

Term Life Insurance with Long-Term Care

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 chronic care. As you use this benefit, the money paid out is deducted from your life insurance death benefit, surrender charges and cash value. If you have an outstanding loan, your loan payments will be deducted from the 4% benefit amount each month. When the death benefit is exhausted, the policy ends.

An Extra Benefit Makes Your Money Go Further

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 twice as long.

Here’s how it works:

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.

Paid Up Life Insurance

In addition, your Extension of Benefits Rider will provide a fully paid-up life insurance policy equal to 25% of the original death benefit.

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