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LTC Policy Can Pay More For Home Care

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A unit of Mutual of Omaha Insurance Company has started distributing a flexible new long term care insurance policy through GoldenCare USA and American Independent Marketing.

The unit, United of Omaha, Omaha, Neb., has designed the new Assured Solutions policy so that agents can tailor benefits to fit customers’ budgets.

Customers can choose benefit periods ranging from 2 years to unlimited, and elimination periods ranging from 0 to 365 days.

Customers can set benefit levels so that the benefit for home care will be 3 times the size of the nursing home care benefit. Customers also can set the assisted living benefit at 50% to 100% of the size of the nursing home benefit.

United of Omaha is appealing to younger customers by including a built-in return of premium benefit for insureds who die before age 65. Insureds who need long term care before age 65 as a result of an injury can receive a double injury benefit, according to United of Omaha.

The distributors of the new policy, GoldenCare, Plymouth, Minn., and American Independent, Yakima, Wash., previously distributed LTC insurance products for U.S. units of AEGON N.V., The Hague, Netherlands.