New York Life launched an enhanced Asset Preserver, a life insurance product that provides a way to help cover the costs of long-term care, provide liquidity, and leave a legacy for heirs.
The product is designed to help individuals guard against surging costs of long-term care, including nursing home care, assisted living and extended at-home care, while enjoying the traditional benefits of permanent life insurance.
Asset Preserver has an optional Extension of Benefits Rider, a protective measure that increases the pool of long-term care dollars and provides coverage for 24 additional months, which can result in up to 70 percent more long-term care coverage if needed.
The benefits of the policy include:
- Immediate increase in funds available to help pay for long-term care expenses through tax-free acceleration of the death benefit, if needed;
- Flexible coverage for qualified long-term care expenses since individuals can select income tax-free monthly benefit option packages to suit their needs;
- Long-term care expenses have been expanded to include: durable medical equipment, and long-term care services outside the United States, in addition to home health care, family care, adult day care, assisted living facilities, hospice care and nursing homes;
- Lifetime money back guarantee. Policyholders are guaranteed to never get back less than the premium paid upon full surrender;
- Minimum death benefit guarantee; and
- New Extension of Benefits Rider, which is an option at purchase that provides a richer long-term care benefit.
In other news:
Prudential Annuities, the domestic annuity business of Prudential Financial, Inc. (NYSE: PRU), today announced the launch of IncomeCertainty.com. The interactive site is built with responsive design technology, allowing users to access it from a laptop, mobile phone or tablet.
IncomeCertainty.com introduces several features, including:
- Virtual binder – This industry-first feature allows investors to save the content they find most relevant and share it with their financial advisor.
- Educational ‘snacks’ - Bite-sized, image-based facts related to retirement help investors better understand how to think about and plan for a secure retirement.
- Retirement planning tools - Investors can assess the level of retirement income they’ll need with quizzes and retirement income calculators. Interactive tools give them information customized to their individual retirement needs.
- Retirement expertise – Videos, brochures and research will help investors feel more confident about retirement planning; they will also have access to information from industry experts including the AARP, the Insured Retirement Institute and the Social Security Administration.
For users of social networks, the site provides ways to share content on Facebook, LinkedIn, Twitter and Google+.
Humana Inc. (NYSE: HUM) and Miramont Family Medicine, a medical group practice, announced a new Accountable Care agreement offering exclusive health care services to Humana’s Medicare Advantage members in the Denver metropolitan area.
The Accountable Care relationship is designed to serve the needs of the growing Humana Medicare Advantage HMO membership at Miramont Family Medicine. The newly-renovated clinic is staffed by two full-time clinicians and has been completely updated to offer advanced primary care, featuring an in-house laboratory, X-ray facility and pharmaceutical dispensary. Additionally, Humana and Miramont have extended the terms of this Accountable Care agreement at Miramont’s six other clinic locations outside of Denver, encompassing Northern Colorado and Parker, Colo.
Humana and Miramont plan to grow this partnership with additional clinics, built on their Level 3 Patient Center Medical Home certification, one of the few practices to achieve such a high designation from the National Committee for Quality Assurance (NCQA) in Colorado.
Symetra Life Insurance Company moved its Indianapolis-based medical stop-loss and group life and disability income insurance sales team to 9100 Keystone Crossing, Suite 440, Indianapolis, IN 46240.
The office is led by Symetra Regional Vice President Thomas Bittner and regional sales executives Jake Brower and Richard Reynolds. Reynolds, who joined Symetra in June 2013, is the regional group manager for medical stop-loss insurance sales. He previously was with Sun Life Financial. Brower is regional sales executive for group life, disability and absence management products. He joined Symetra in 2012 from The Hartford.
To raise the savings bar, the Principal Financial Group announced the 10% Challenge, an educational campaign that encourages participants to push themselves in the race toward retirement security by deferring at least 10 percent of their salary.