United of Omaha Life Insurance Company has built long term care support into a retirement savings product.

United of Omaha, a unit of Mutual of Omaha Insurance Company, Omaha, Neb., says its new Living Care Annuity contract is a deferred fixed-rate annuity that automatically comes with LTC benefits.

The purchaser puts in a premium to establish the annuity value.

United of Omaha then will credit the annuity with a guaranteed rate of interest over a period of at least 2 years, the company says.

Clients can use the LTC benefits starting in the third contract year.

If a client needs long term care, the client can receive up to 3 times the annuity value in the form of LTC benefits, United of Omaha says.

If the client does not need long term care, the client will still own a fixed annuity, and the beneficiaries will receive a death benefit equal to the annuity value, the company says.