Asset-Care*
What is Asset-Care?
Asset-Care is designed to help you protect your assets by using the safety of whole life insurance. With your one-time premium, you receive a guaranteed amount of life insurance coverage, all of which can be used for qualifying long-term care benefits. The cash value is credited with a minimum guaranteed interest rate, and grows each month. If you should ever decide that Asset-Care no longer fits your needs, you can request and receive a full return of premium (less any prior distributions taken).
How does Asset-Care work?
Asset-Care can help to safeguard the rest of your estate by providing coverage for qualifying long-term care-- such as care in your own home or in an assisted living facility. Long-term care benefits are paid out of your policy's death benefit. You can qualify for long-term care coverage in one of two ways:
1. Being unable to perform at least two or six activities of daily living.
Activities of daily living are bathing, continence, dressing, eating, toileting, and transferring.
2. Requiring care as a result of a cognitive impairment (such as Alzheimer's disease).
It is important to note that before your policy can provide long-term care benefits, you must pay the first 60 days of qualifying benefits (this is also known as the waiting period).
What are the benefits of Asset-Care?
There are many benefits of Asset-Care, including:
- Tax advantages that both you and your beneficiaries can enjoy.
- Long-term care benefits that are paid from your Asset-Care policy's death benefit.
- Optional additions and riders to your plan to guarantee the length of your coverage.
If you have any questions or would like to request more information on Asset-Care, please email us or call us at the appropriate number:
Camden County, GA: 912.434.2090
Metro Jacksonville, FL: 904.129.4025
Metro Indianapolis, IN: 317.570.1271
Metro Cincinnati, OH: 513.868.0040
Toll Free Nationwide: 866.203.5097
*The following information on Asset-Care information is provided by the State Life Insurance Company, a OneAmerica company.