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Raymond Lavine
August 25, 2019

One America Asset Care Policies provide anywhere from 2%-4% of the policy’s death benefit per month in Long Term Care benefits.

These “benefits” apply towards assisted living, nursing facility, and home health care. The payout based percentage is 2%, however for additional premium you can get the option to use 3% or 4% of the death benefit per insured.

How is One Americas Asset Care death benefits (LTC pool) determined?

Let’s take this as an example, let’s take Asset Care 1 (lump sum) for easy math, even though most clients prefer to use qualified money (Asset Care 3) or annual installments of 10-20 years (Asset Care 4).

Say you and your spouse purchase a joint policy and fund it with $125,000 in one payment. Immediately the death benefit is calculated to $250,000. So, assuming 2% Per Person. This equates to $5,000 per person per month.

You also have the option to add Asset Care’s Unlimited Benefits rider, which provides two different paths.

  • The first is to double the length of coverage, adding an additional 50 months for an additional $850 a year.
  • Or Unlimited funds which come out to a Guaranteed premium of $1,200 a year (onetime payment available for both options). So then if you or your partner ever need long term care, you will have unlimited duration of funds to draw from.

Here are the two Continuation of Benefits options are illustrated.

Confused yet?

I know, it’s a lot of information to take in - especially if you’re not well-versed in insurance lingo.

I’ve got 20+ years in the insurance game and know these policies like the back of my hand. If Asset Care appeals to you, I would be happy to hop on a quick call with you to discuss your options.