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Long Term Care Insurance
State of Oklahoma Employees
presented to
What is Long Term Care?
“Care” versus “Cure”
Types of Long Term Care (LTC)–
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Where LTC services are provided–
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2
Why be concerned about LTC?
More than 60% of all Americans turning 65 will need long term care at some point in their lives.3
Growing demands on the “Sandwich Generation”4
Void in our benefit plans
Long term care services are expensive.
3
What is the cost of LTC?
Type of Care Oklahoma Average Median
Annual Costs5
$18,782
$26,782
$51,637
4
What is the financial value of
Long Term Care Insurance (LTCI)?
50 year old ($200,000 plan with 2% MBAL = $4,000)
Savings Plan with 5% interest compounded annually
5
How does the LifeSecure
insurance plan work?
You create your plan. Choose a Benefit Bank
Choose a Monthly Benefit Access Limit
Benefit Bank Access Limit Monthly Benefit
x =
How will it pay out?
Benefit Payout Structure
Flexible Benefit
Available Monthly Benefit
Licensed Care Expenses
(reimbursable)
Unused Monthly Benefit
Available Flexible Benefit
How can the Flexible Benefit be used?
The Flexible Benefit is designed to provide greater
flexibility in the type of care or services you receive –
beyond traditional licensed services.
What else does the LifeSecure
insurance plan include?
Standard Features
LifeSecure Care Advisor Services–
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–
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Personal LifeSecure Web Portal
What more can you expect?
Are there any optional benefits?
Optional Benefits (available for additional premium)
How does the claim process work?
Eligibility for benefits
Payment of benefits
Quote Calculator
Budget Point Pricing – Quote Calculator
Our Budget-Point Pricing tool makes the process even easier:
How much will it cost?
Sample Premiums
Age Benefit BankSM Monthly Benefit
Access Limit
Monthly
Premium
Where does it fit in?
How much coverage do I need?
Why purchase now?
Cost based on your age when you apply
Health is an important consideration
Important benefit at all ages
Fully portable coverage
Premium discounts are available
For Immediate Assistance contact: Amorette Burch @Creative Benefit Solutions
To learn more, call [888-569-0077]
or visit www.YourLifeSecure.com
Limitations and Exclusions