If you’re interested in long-term care insurance coverage, you can choose from several Nationwide products, such as life insurance policies with a long-term care rider, linked-benefit policies, and stand-alone policies.
For individuals ages 40 to 65 interested in long-term care insurance coverage, Nationwide offers Nationwide CareMatters. This policy is built on life insurance with a death benefit. It also gives the insured the option of purchasing long-term care protection over a specified period of time.
Life insurance policies with a rider
This policy is recommended for seniors who want to leave a legacy behind and make sure their loved ones are taken care of in the event that they pass on. However, this policy also has a rider for seniors who want to have access to their death benefit for use with long-term care needs.
A linked-benefit policy consists of a long-term care insurance rider that's added to a life insurance policy. This hybrid policy is for seniors who feel they may not need as much life insurance coverage, but are more concerned with having long-term care coverage. In this case, they can choose a linked-benefit policy, which provides an extension of long-term care benefits and a death benefit. For this policy, premiums won’t increase.
These policies are ideal for seniors who want long-term care insurance coverage with lower premiums and don’t need additional life insurance coverage. Keep in mind that premiums may increase in the future under these types of policies.
Currently, there are two types of common benefit plans that you can choose from: cash indemnity and reimbursement. For an indemnity benefit plan, a full monthly payment will be sent directly to the policyowner, whereas a reimbursement benefit plan will reimburse you the lesser of your monthly benefit amount.