USAA doesn’t offer a stand-alone long-term care policy at this time. However, a representative referred us to the John Hancock USAA Long Term Care Rider.
USAA recommends that federal employees or service members and qualifying relatives consider the Federal Long Term Care Insurance Program (FLTCIP). You can check eligibility by visiting the FLTCIP website.
John Hancock USAA Long-Term Care Rider
Offered by John Hancock, this long-term care rider helps lock in financial security and plan for long-term care. As a personalized life insurance policy with a long-term care rider, you can use your policy’s death benefit to help pay for long-term care expenses — including in-home or adult day care and assisted living or nursing home facilities.
The policy offers flexible issue ages between the ages of 20 and 75. Additionally, the rate for the rider is guaranteed not to change over the life of the policy. You will need to satisfy a 90-day elimination period before you can receive long-term care insurance benefits. The maximum amount of coverage per month is $50,000, but this is dependent on your long-term care needs. Benefits are tax-free and eligibility for benefits is contingent on whether a physician can affirm that you are unable to perform two of six activities of daily living.
The Federal Long-Term Care Insurance Program
The FLTCIP is designed to help pay for long-term care services in an assisted living facility, adult daycare, home, or nursing home. Under this program, insured clients will receive comprehensive coverage, including international benefits outside of the United States. It also provides stay-at-home benefits and compensation for informal care provided by friends and family caregivers.
The program also offers benefits such as a waiver of premiums while you’re receiving long-term care benefits as well as respite care to your primary caregiver up to 30 times your daily benefit amount each year.