NU Online News Service, April 29, 2005, 4:03 p.m. EDT

Massachusetts Mutual Life Insurance Company has introduced a major new long term care insurance policy, the SignatureCare 400 policy.[@@]

Customers can choose between reimbursement or indemnity coverage, and they can choose between owning the coverage themselves or having other parties own the policies, MassMutual says.

Customers also can choose from a 3-year, 4-year, 5-year, 6-year, 10-year or lifetime benefit period.

Other features include a prescription drug benefit of up to $100 per month for insureds who enter nursing homes or assisted living facilities and an emergency response system benefit of up to $50 per month for insureds who want to buy electronic devices that will help them get help in the event of an emergency.

MassMutual will offer discounts of up to 10% for consumers who buy coverage through employer groups or associations and discounts of up to 70% for consumers who buy coverage through joint LTC policies.