NU Online News Service, July 2, 2003, 12:19 p.m. EDT – Allianz Life Insurance Company of North America, Minneapolis, has introduced Generation Protector, a long term care insurance policy that can provide a benefit of up to $500 per day of qualified care.
The policy, which is now available in 15 states, covers in-home care, community care, assisted living facility care and nursing home care.
Allianz, a unit of Allianz A.G., Munich, is marketing the policy to consumers between the ages of 18 and 84.
Buyers can choose lifetime coverage, or they can choose benefit periods of two, three, four, five or eight years.
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Options for annual benefit elimination periods range from 7 days to 180 days.