CCS has carefully selected the most reputable LTC carriers with the most competitive prices, backed by sound financial strength combined with quality benefits. The long-term care market is constantly changing. We believe we have chosen the best portfolio of carriers. The companies we currently keep are:
Allianz - Generation Protector. This product is a reimbursement policy with some unique features. They offer a 3% and 4% compound inflation options. Allianz offers home health care at 70%, 100% or the industry leading 130% of the nursing home daily benefit. The 130% option only drains the pool of money at 100%. This product also offers an additional cash monthly benefit which is a separate pool of money - above and beyond the Reimbursement pool. Only one hour of service per month will trigger the additional cash benefit if purchased. Other riders and benefits include: a calendar day elimination period, waiver of home and community care elimination period, monthly home health care benefit, shared care, spousal waiver of premium and survivorship. Allianz has 5 underwriting classes.
Optional Riders Include: Full Return of Premium Rider; Nonforfeiture Rider; Return of Premium Rider; Shared Care Rider; Survivorship Benefit Rider; Waiver of Home Health Care Elimination Period; Calendar Day Elimination Period; Home Health Care Monthly Benefit Rider; Monthly Indemnity Benefit Rider; Restoration of Benefits Rider.
Inflation Options Include: 3% Compound, 4% Compound, 5% Compound, 5% Simple, and 5% Compound 2X Max.
Accelerated Payment Options: 15 Pay or Pay to Age 80, whichever is later; Accelerated Premium (higher premiums years 1-10, lower premiums thereafter)
Allianz has over $31 Billion in assets, and carries a AA Rating from S&P.
Genworth Financial - Privileged Choice & Classic Select- Genworth is the recent spin off from GE Capital. Genworth Financial offers two products, Privileged Choice (For Couples) and Classic Select (For Singles) which allow insured's to cover their Long Term Care expenses whether they wish to receive care at home or in a facility.
Privileged Choice is one of the most comprehensive long-term care insurance plans available. It is a monthly reimbursement plan that provides benefits at home, in the community, Assisted Care Facilities, and in Nursing Homes. Care providers can be independent and not affiliated with a home care agency. For unskilled services, even friends and neighbors can provide some care. Privileged Choice is very attractive for couples due to the 40% discount, joint waiver of premium, survivorship benefits as well as home care waiver of elimination period included in the base policy.
Classic Select is a comprehensive, flexible long-term care insurance plan. It is a daily reimbursement benefit that provides benefits at home, in the community, Assisted Care Facilities, and in Nursing Homes. Care providers can be independent and not affiliated with a home care agency. For unskilled services, even friends and neighbors can provide some care. The following riders can enhance this product's features for additional premiums: 1st Day Home Care, Monthly Benefits, 10 Year Survivorship Benefit, 7 Year Survivorship Benefit and Restoration of Benefits. This policy allows riders to be added versus Privileged Choices where benefits are built in.
Optional Riders Include: Nonforfeiture Rider; Shared Care Rider; Enhanced Survivorship Benefit Rider; Restoration of Benefits Rider.
Inflation Options Include: 5% Simple & 5% Compound (regardless of claims)
Accelerated Payment Options: Inexpensive 10-Pay option & Paid to 65
Genworth Financial has over $103 Billion in assets, and carries a AA Rating from
S&P.
Guardian/Berkshire - Care ProVider is a new product to the Long Term Care Insurance industry but an old stand-by in the disability market. Similar to Mass Mutual's joint policy, Guardian's policy is administered by the same company that administers Mass Mutual and Lincoln Benefits policies. Base benefits are paid as daily or monthly reimbursement for covered long term care expenses. The product offers a 3% or 5% compound inflation rider. An Indemnity Rider or full cash benefit can be added to the policy to pay the full daily benefit per day regardless of expenses incurred.
Optional Riders Include: Home and Community Care Services Enhancement Rider; Home and Community Care Services Waiver of Premium Rider; Indemnity Benefit Rider; Paid-up Survivor Rider; Personal Caregiver Indemnity Rider; Restoration of Benefits Rider; Return of Premium Rider; Shortened Benefit Nonforfeiture Rider
Inflation Options Include: 3% Compound & 5% Compound
Accelerated Payment Options: 10 Pay & Paid up at 65
Guardian/Berkshire has over $20 Billion in assets, and carries a AA Rating from S&P.
John Hancock's- Custom Care II product provides comprehensive home care and nursing coverage at 100%. Additionally, it offers added benefits specifically designed for those under age 65. These additional benefits include: Double Coverage for Accidents Benefit, Return of Premium and Limited Pay Options. Hancock has also introduced a new inflation protection feature of 5/3% Compound Inflation. Each year the policy benefit increases by 5% and the Policy Limit will increase by 3% on a compounded basis. Hancock has introduced "Corporate Solutions" for the Employer-Sponsored Market which makes them a major player in this market. (Link to Employer Sponsored Tab).
Optional Riders Include: Nonforfeiture Benefit Rider; Shared Care Rider; Family Care Rider; Restoration of Benefits Rider; Survivorship & Waiver of Premium Benefit Rider; Waiver of the Home Care Elimination Period Benefit Rider; Additional Cash Benefit Rider; Enhanced Return of Premium Upon Death Benefit Rider.
Inflation Options Include: GPO, 5%-Simple or 5%-Compound, or a 5%/3% Daily benefits will increase by 5% compounded annually while the remaining Maximum benefits will increase by 3% compounded. (regardless of claims)
Accelerated Payment Options: 10 Pay, Pay to Age 65
John Hancock has over $111 Billion in assets, and carries a AA rating from S&P.
John Hancock's New Situs Form
Use this form when selling out of your clients state of residence.
Mass Mutual - Signature Care-400 is a joint policy, therefore it provides one policy with two pools of money for the two insured's who are either married or living together. Mass Mutual's base policy is a daily reimbursement contract. Optional benefits include a professional indemnity rider available in any underwriting class or a cash rider for those who fall into their top underwriting class. Pricing of the joint policy is calculated at half the older insured's cost, couples close in age benefit significantly from this cost savings. Some of their special built-in features include: bed reservation, alternative plan of care, rate guarantees, personal care advisory services, respite care and waiver of premium. Mass Mutual is one of a few carriers that offer, a full return of premium benefit which reimburses the insured's beneficiary 100% of premiums paid regardless of any claims paid. Their 10 and 20 year payment plans offer an attractive alternative to the corporate/business marketplace as well, and their employer-sponsored discount requires only one person out of a business of 3 people to qualify for a 10% lifetime discount. All elimination periods are service days, but they are one of the few companies which offer zero day elimination for both facility and home care.
Optional Riders Include: Indemnity Benefit Rider; Full Nonforfeiture Rider (Full Return of Premium); Home & Community Based Services Enhancement Rider; Home & Community Based Services Waiver of Premium Rider; Paid-Up Survivor Rider; Restoration of Benefits Rider; Shortened Benefit Nonforfeiture Rider.
Inflation Options Include: 5% Simple & 5% Compound
Accelerated Payment Options: 10 Pay & 20 Pay
Mass Mutual has over $96 Billion in assets, and carries a AAA Rating from S&P.
MedAmerica's - Simplicity- Is a popular new product on the market. Simplicity is a full indemnity comprehensive or home care only product designed to pay benefits in "cash" without regard to services used or the actual expense of their services. This policy is frequently used for younger clients, as well, the policy can be used as a catastrophic disability contract, either in lieu of or in conjunction with disability insurance as a less expensive alternative. The day after the eligible policyholder completes their calendar day elimination period, a full monthly benefit check is paid to the insured at the beginning of each month. MedAmerica Insurance Company and MedAmerica Insurance Company of NY are the long-term care insurance subsidiaries of The Lifetime Healthcare Companies, a $4 billion company located in Rochester, NY, that operates one of NY State's largest health insurers.
Optional Riders Include: Full Return of Premium Rider; Return of Premium; Nonforfeiture; Survivor Rider; Shared Care Rider; Shared Waiver Rider.
Inflation Options Include: 5% Simple, 5% Compound & 5% Compound 2 x Max.
Accelerated Payment Options: 10-Pay; Paid to 65; Reduced Premium Option, reduces premium at selected age (65 or 70) to one half of original age lifetime premium.
MedAmerica has over $511 Million in assets, and carries a A- Rating from S&P.
MetLife- VIP2 Series- MetLife leads the pack of LTC carriers with financial strength combined with a comprehensive suite of products to fit the needs of all aged individuals as well as employers. Their Long-Term Care policies offer more coverage choices with exciting options - all of which give the client the utmost in flexibility when it comes to designing a plan and using the benefits.
The "Value" product is a daily reimbursement benefit. It includes such features as Care in a Nursing Home, Care in an Assisted Living Facility, Care at home, Caregiver Training and Respite Care. An indemnity rider can be added to this plan which would pay the full applicable Daily Benefit Amount every day a covered service is received, regardless of the cost of that service.
The "Ideal" product is a monthly reimbursement benefit. It includes such features as Care in a Nursing Home, Care in an Assisted Living Facility, Care at Home, Survivorship, Transition Expense Allowance, Supportive Services, Caregiver Training and Respite Care.
The "Premier" product is a monthly Cash benefit. It includes such features as Care in a Nursing Home, Care in an Assisted Living Facility, Care at Home and Survivorship. Because you decide how to spend the Cash Payment you receive under the Premier Plan, most other features are not applicable.
MetLife also has one of the more competitive Employer-Sponsored, Multi-Life Long-Term Care programs.
Optional Riders Include: Home Care Plus Rider; Share Care Rider; Return of Premium Rider; Restoration of Benefits Rider; Nonforfeiture Rider.
Inflation Options Include: GPO, 5%-Simple or 5%-Compound.
Accelerated Payment Options: 10 Pay, Pay to Age 65, Reduced pay at 65, Double Pay First Year.
MetLife has over $229 Billion in assets, and carries a AA rating from S&P.
Penn Treaty- Personal Freedom, Assisted Living & Independent Living- has one of the most extensive product portfolio's in the industry with great underwriting flexibility. Personal Freedom is a Tax Qualified or Non Tax Qualified comprehensive LTCi policy. It pays 100% of the maximum daily benefit for all levels of care, including: home care; unskilled homemakers, family members, licensed skilled care, home health aides, meals on wheels. Their Assisted Living Plus program is a stand alone facility care policy that will pay up to 100% of the maximum daily benefit for all levels of care in a licensed facility including: assisted living facilities, nursing facilities and Christian Science Facilities. Independent Living is a stand alone home health care policy which provides benefits for all levels of care at home and will pay up to 100% of the maximum daily benefit for personal care, respite care, adult day care, hospice care and meals on wheels. Family members will be paid up to 100% of the maximum daily benefit for providing home health care, personal care, and/or homemaker care. The Secured Risk Nursing Facility plan is available to individuals with substandard health conditions. All plans may not be available in all States. Penn Treaty also has a policy for people with extreme medical conditions. Their Secured Risk Nursing Home Policy offers up to 2 years of coverage in a nursing home or assisted living facility for up to $100 per day, some states offer 6 months of home care availability as well.
Inflation Options Include: 5% Compound
Accelerated Payment Options: N/A
Penn Treaty has over $147 Million in assets, and carries a B- Rating from S&P.
Physician's Mutual- VistaCare & VistaCare Choice offers two products in the Long Term Care Insurance market. Both offer reimbursement for LTC expenses. While both products allow for monthly reimbursement for Home Care, only VistaCare Choices reimburses on a monthly basis for all care. They also offer a Stand Alone Home Care only policy in many states. This company does not do business in New York.
Optional Riders Include: Home Cash Benefit Rider; Shortened Nonforfeiture Rider; Surviving Spouse Waiver of Premium Rider; Joint Waiver of Premium Rider; Full Return of Premium Rider; Return of Premium Rider; Waiver of Elimination Period for Home and Community Care Rider; Shared Care benefit Rider
Inflation Options Include: 5% Simple, 5% Compound, 5% Compound 2 x Max.
Accelerated Payment Options: 10-Pay; 20-Pay; Paid to age 65
Physician's Mutual has over $635 Million in assets, and carries a AA Rating from S&P.
Prudential- LTC by Design provides a strong, flexible product in their LTC by Design series. They emphasize care in the home, support of caregivers and offer the following services: Nursing Home, Adult Foster Home, Assisted Living Facility, Residential Health Facility, Adult Day Care, Home Health Care, Homemaker services, Personal Care, Bed Reservation, Respite Care, Hospice Care, Calendar Day or Service Day Elimination Periods, 100% International Coverage with their Cash Option only. With Prudential, the client selects policy benefits to fit specific needs, choices are daily or monthly reimbursement or a cash option basis.
Optional Riders Include: Cash Benefit Rider; Monthly Benefit Rider; Calendar Day Elimination Period Rider; Nonforfeiture Rider; Restoration of Benefits Rider; Joint Waiver of Premium Rider; Survivor Waiver of Premium.
Inflation Options Include: Periodic increase, 5% Simple, 5% Compound, 5% Compound- 2x Max.
Accelerated Payment Options: 10 Pay, Pay to Age 65
Prudential has over $218 Billion in assets, and carries a AA- Rating from S&P.
State Life - Lifestyle 2000 Plus - The Lifestyle 2000 Plus long term care insurance policy provides a daily reimbursement joint contract with the ability to add a professional indemnity rider either to the facility or to the facility/home care portion of the contract. Inclusive special features include Waiver of Premium or Joint Waiver of Premium for those who have a joint policy. Bed Reservation, Alternative Plan of Care, Personal Care Advisory Services and Care Coordination are some of the benefits included in the base policy.
Optional Riders Include: Full Nonforfeiture Rider; Calendar Day Elimination, Home and Community Enhancement Rider; Indemnity Benefit Rider; Shortened Nonforfeiture
Inflation Options Include: 5% Simple & 5% Compound
Accelerated Payment Options: 10 Pay & 20 Pay
State Life has over $402 Million in assets, and carries a AA- Rating from S&P.
UNUM/Provident - Individual LTC Indemnity (Total or Professional) or Individual LTC Reimbursement. UNUM provides a variety of LTC products that allows the insured to choose whether they wish to be reimbursed or receive the total daily benefit amount each day care is received. The total home care policy is a true cash policy and the Professional policy requires a professional caregiver to trigger the full daily benefit.
Optional Riders Include: Shortened Nonforfeiture Rider; Nonforfeiture Cash Surrender Rider; Restoration of Benefits Rider; Return of Premium at Death Rider; Survivorship Waiver of Premium Rider
Inflation Options Include: CPI Increase, 5% Simple, 5% Compound
Accelerated Payment Options: 10-Pay for Indemnity Policies, Reimbursement policies have Single Pay, 5-Pay, 10 Pay and Pay to Age 65.
UNUM/Provident has over $49.7 Billion in assets, and carries a A- Rating from S&P.
