Whole Life Insurance Policy with Acceleration Benefit for Long-Term Care
In-Home, Nursing Home & Assisted Living Facility
Like most healthcare expenses in the U.S., the costs for long-term care services are also increasing steadily. The annual cost of nursing home care in the U.S. is growing at an average rate of 3.5 percent each year.1 In 2015, the median annual cost for a private room in a nursing home was $91,250.2 That becomes a lot to plan for financially, which is one reason why so many people are underprepared when they need additional healthcare assistance.
The Whole Life Insurance Policy with Acceleration Benefit for Long-Term Care marketed by Platinum Supplemental Insurance is designed to provide you monthly payments should you require long-term care services. And, if you don’t require these services, the lump-sum benefit on the policy can still help your loved ones after your lifetime.
Read more about the Whole Life Insurance Policy with Long-Term Care Benefits* in our brochure:
*Underwritten by State Mutual Insurance Company
1Genworth Financial Inc. Genworth 2016 Cost of Care Survey, conducted by CareScout. Retrieved April 2017 from https://www.genworth.com/about-us/industry-expertise/cost-of-care.html. Page 1.
2Genworth Financial Inc. Genworth 2015 Cost of Care Survey. https://www.genworth.com/dam/Americas/US/PDFs/Consumer/corporate/130568_040115_gnw.pdf. Page 19.