Securian Financial Group Inc. is launching LTC Guard, a long term care insurance product, through its Minnesota Life Insurance Co. unit.

LTC Guard features a dual pool benefit strategy. One pool pays for at-home care on a reimbursement basis but can also be obtained on an indemnity basis for an additional premium. The other pool indemnifies assisted-living or nursing home care.

Securian is offering LTC Guard on a lifetime payment plan as well as 10-payment and 20-payment premium options. It also offers a joint-life premium discount.