Here’s how Chubb’s Permanent Life Insurance with Long Term Care benefit can provide financial support:

Example 1: An employee elects a $25,000 policy at age 45. At age 57, they require long term care, and the plan pays $1,000 per month for up to 25 months. After using 13 months of the benefit (a total of $13,000), the employee passes away at age 67, leaving a death benefit of $12,000.

Example 2: An employee selects a $100,000 policy at age 45. At age 57, they need long term care, and the plan pays $4,000 per month for up to 25 months. After using 13 months (a total of $52,000), the employee passes away at age 67, leaving a death benefit of $48,000.

This combination of long term care and death benefits ensures coverage for both care needs and final expenses.

Chubb’s Permanent Life Insurance with Long Term Care offers coverage up to $100,000 for employees, $75,000 for spouses, and $25,000 for children, providing financial security and long-term care support for your family. To cover a child or spouse under this plan, the employee must elect coverage for themselves.

Important Details for Child Coverage and Conversion Options:

Child Coverage: For the Chubb Lifetime Benefit Term product, child coverage, including coverage for children with disabilities, ends at age 26. To purchase child coverage, the employee must first purchase coverage for themselves or their spouse. Upon attainment of age 26, the child coverage may be continued by converting to an insured adult policy (no longer a child rider) subject to adult age 26 rates, with no health questions. This conversion allows for up to 5 times the child’s term face amount without requiring medical underwriting, though premiums will increase.

Coverage Upon Employment Separation: Although this is an individual coverage plan, if an employee leaves their position, the child’s coverage cannot continue unless it is converted to an individual certificate, which will have higher premiums.

Long Term Care Rider: Please note that the Long Term Care rider is not available for children.

Here’s an example of the monthly premium and benefits for a $50,000 policy for a 40-year-old non-tobacco user: