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Firm Offers Index Annuities With LTC Rider

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Legacy Financial Services Inc. is marketing a new asset-protection product from Washington National Insurance Company.

Legacy, Petaluma, Calif., is working with Washington National, a subsidiary of Conseco Inc., Carmel, Ind., to sell the Enhanced Care Rider feature.

The feature, available with the Washington National RewardMark series of fixed index annuities, increases the value of the annuity when the purchaser loses the ability to perform 2 “activities of daily living” without assistance.

Owners can use the extra assets to pay for long term care or to handle other expenses, Legacy says.

Legacy and Washington National are offering the rider to annuitants ages 40 to 75.

Clients must elect the rider at contract issue and can designate $50,000 to $200,000 of the initial premium amount as “rider premium,” Legacy says.

The available benefit amount grows as the annuity grows over time, Legacy says.