Permanent Life Insurance with LTC

Our Permanent Life Insurance with Long-Term Care, provided by Chubb, helps you provide for yourself and your important people at home in the event of long-term care needs and/or death. It gives you access to special group rates. Premiums are guaranteed for 5 years (through December 31, 2025).

Your coverage is guaranteed - there is no need to answer any medical questions (for 2021 enrollment only).

Permanent Life Insurance with Long-Term Care provides:

  • Monthly payments to help cover long-term care costs in the event that you experience a medical condition that requires home health care or nursing home care; and/or
  • A lump sum payment in the event of your death, which can be used as your important people at home see fit

The Long-Term Care coverage provides extra financial support, allowing you to receive care in the setting you choose, and helping you to avoid tapping into savings, retirement benefits or home equity to pay for care.

Long-Term Care payments are typically triggered by the loss of two of six activities of daily living or loss of cognitive impairment. Once triggered, the benefits are based on the face amount of coverage purchased and monthly payments are 4% of your policy’s death benefit. You can also include additional policy features that protect (or partially protect) the full value of the death benefit, in the event that you need long-term care.

You can choose coverage for:

Associate Choose increments of $25,000 (maximum $150,000)
Spouse Choose increments of $12,500 (maximum $75,000)
Child Choose increments of $5,000 (maximum $25,000)

How much does this benefit cost?

The cost will vary based on the coverage selected and your or a covered family member’s age at the time the policy becomes effective.

Premiums will never increase and are guaranteed to age 100 - after which, no further premiums are payable, but coverage continues. And, premiums are payroll deducted.

In 2019, a Cost of Care Survey by Genworth found that long-term care costs in the State of Ohio were around $4,000 per month for home health care and around $7,000 per month for nursing home care

How to make the most of this benefit

  • For 2021 enrollment only, you can enroll without answering any medical questions, provided you are actively at work during the annual enrollment period
  • Add dependent coverage - your spouse and any children through the month they turn age 26 are eligible
  • Your spouse can enroll in their own policy by providing limited medical information at the time of enrollment
  • A Child Term Rider is available with a coverage amount of $25,000 (note: this only includes a Life Insurance benefit; Long-Term Care on a child policy is not available)
  • If you or your important people at home need emotional support or counselling following a medical diagnosis requiring long-term care, or a death, the Employee Assistance Program is available to you 24/7
  • Change your coverage at any time during the year if you have a relevant and qualified change in family status (e.g. you get married and want to add your spouse) — read more under Enrollment
Contact Chubb
855-241-9891

(Note – this # is active AFTER 1/1/2021 when the policies are loaded in the system. It is not active for OhioHealth prior to 1/1/2021)