Long term care rider
With Americans now living longer than ever, it’s no surprise that roughly 70% of people over 65 will eventually require some form of long term care services.1 That’s why it’s so important to prepare now for how you can help cover the cost of the services you may need later.
You may be able to include Guardian’s Long Term Care rider or Guardian's Joint LTC rider when purchasing certain types of our life insurance. This rider gives you access to money from a part of your life insurance policy during your lifetime if you’re receiving long term care services as a result of a chronic illness.
Including a long term care benefit with your life insurance provides:
Simplicity: Rather than purchasing two separate policies — a life insurance policy and a long term care policy — you can own a single product, to be used for life insurance protection and to help pay for long term care services.
Flexibility: You’ll have the freedom to choose, within certain limits, the amount of monthly benefit that best meets your needs. And, you can choose to stop receiving payments, or change the payment amount, at any time.
Independence: Since caring for an aging loved one can be financially draining, selecting the long term care rider may help reduce your financial dependency on loved ones to provide for you as you age.
Less paperwork: This type of benefit is an indemnity-style rider and doesn’t require you to submit bills and receipts each month. 2