1. The plan pays a lump-sum benefit in the event of you or your covered spouse’s/partner’s death. It also allows you to use your life insurance benefit to assist with long-term care needs. With this plan, you can receive part of your benefit as a monthly payment to help pay for long-term care expenses that traditional health insurance doesn’t cover, such as a home health care worker, long-term care facility, or nursing home, for up to 50 months.
2. As traditional long-term care insurance becomes more expensive and harder to find, Whole Life Insurance with Long-Term Care may be a good option that provides peace of mind for you and your loved ones. During your first enrollment as a RELX employee, Evidence of Insurability (EOI) will not be required. However, EOI may be required if you enroll after this enrollment period or add to or increase this coverage in the future.
Note: Long-Term Care (sometimes referred to as LTC) is a different benefit from the long-term disability (LTD) benefit to use in the event you incur a disability.
1. Whole Life Insurance with Long-Term Care additional rider benefits are: Accelerated Death Benefit for Terminal Illness or Condition and Accelerated Death Benefit for Long-Term Care with Restoration of Benefits and Extension of Benefits.
2. Exclusions and limitations may apply.
Plan Details
Life-Insurance: When you enroll, you will select from a range of life insurance amounts.
Monthly LTC Benefit: If you need LTC, you can access 4% of your life insurance while you are living to be used for care at home, assisted living, adult day care, or nursing facility care. To qualify, you must not be capable of performing two of six activities of daily living or experience cognitive impairment.
Total LTC Benefit: Your total LTC benefit is 1x the life insurance amount selected which will provide 50 months of LTC coverage.
Benefit Restoration: If you exhaust your policy's LTC Coverage, you can elect to receive a one-time restoration of benefits.
Important Note: This benefit is not intended to replace your existing life insurance coverage. You can be enrolled in both plans. This plan helps protect you with a long-term care event.
Plan Brochure
What is Long-Term Care?
FAQ
GWL Policy Sample Certificate
GWL ADB LTC Extension and Restoration Rider Sample Certificate
GWL Accelerated Death Benefit Terminal Condition Rider Sample Certificate