A long-term care policy pays a monthly income if the insured person did not have the capacity for self-care as described in the policy.
A long-term care policy is a monthly income benefit protected under Assuris protection.
If your life and health insurance company fails, Assuris guarantees that you will retain up to $5,000/month or 90% of your monthly income benefit, whichever is higher.
Note: Assuris protection is applied to pre-tax amounts.
$4,500
/month
Original
benefit amount
Since your monthly income benefit is less than $5,000/month, you will retain your full benefit amount.
$4,500
/ month
Protected benefit amount
$7,500
/month
Original
benefit amount
Since your monthly income benefit is more than $5,000/month, you will retain 90% of your benefit amount.
$6,750
/ month
($7,500 × 90%)
Adjusted benefit amount
For quarterly benefit payments, the Assuris protection is up to $15,000 quarterly or 90% of the promised quarterly payments, whichever is higher.
For semi-annual benefit payments, the Assuris protection is up to $30,000/semi-annually or 90% of the promised semi-annual payments, whichever is higher.
For annual benefit payments, the Assuris protection is up to $60,000 annually or 90% of the promised annual payments, whichever is higher.