An Option for Long-Term Care

On the road of life, there may be bumps and detours, but we can plan for them. As we live longer and maintain an active lifestyle, medical challenges may arise and knowing how to manage them is essential. Having a contingency plan that provides a sound financial outcome will guide us through the bumps and detours in our journey. Navy Mutual offers a Long-Term Care option as part of its Permanent ‘Plus’ life insurance policy.

PLANNING When considering life insurance, more people are including a long-term care option in their life insurance plans. This growing trend is attributed to life longevity and healthcare needs that may occur later in life.

Federal and state health care policy is causing reductions in hospitalization and nursing home admissions, so families are encountering tough decisions – both personal and financial. Careers, higher education, and other financial decisions can take a lower priority to the sometimes sudden and immediate decisions families face when caring for a chronically ill family member. Continuous healthcare that is provided for longer than one year is considered long-term.

According to a recent study,* it is crucial to consider who will care for people with multiple chronic conditions who need substantial help with tasks that often are considered ‘nursing’ or ‘medical’ care. The author writes that … “the default is the family, ready or not.” Younger and older policyholders are including a long-term care option with their life insurance plan so their families will be ready for the unexpected.  

The Long-Term Care Option from Navy Mutual is available to fit financial and lifestyle goals. Some of these may include independent living through personal care, assisted living, care management, support to family member caregivers, home modifications, hospice, and institutional care.

LONG-TERM CARE A long-term care option pays for services for policyholders who cannot perform daily living activities such as bathing, eating, dressing, and others, because of chronic health conditions. This insurance also pays benefits when supervision is necessary because of cognitive conditions, such as Alzheimer’s disease. Individual long-term care insurance accelerates the death benefits for policyholders with chronic conditions. The Navy Mutual Long-Term Care life insurance option provides coverage with the following features:

  • Insured Pays No Additional Premium through this Elected Life Insurance Policy Benefit
  • Policyholder Can Convert Long-Term Option at Age 60
  • There are No Premiums, once Approved
  • Benefit Payout is Tax-Free
  • Annuity Payments are for 48 to 60 Months
  • If Illness Subsides, Plan Returns to Pre-Illness Status
  “[Navy Mutual] … a wonderful company in whom I have great trust. My father (34-year Navy veteran) used your services and now I (32-year Navy veteran) am following his footsteps. Keep up the good work.” -          Capt. David Steere, USN, Ret.

[David’s father was a Class of 1931 Naval Academy Graduate. At his end-of-life he was living in assisted care and having trouble making ends meet. He used his Permanent Plus policy to help his finances with the Long-Term Care Option]       “I consider NMAA's "Permanent Plus" insurance to be the absolute best available on the market. I like the "growth" in my cash value, and the death benefit. Also like the fact that it can be converted to long-term care insurance, if needed.” -          Col. Roger Knapper, USMC, Ret.

Quality service to our members is at the heart of why Navy Mutual life insurance continues to be the affordable, reliable, and preferred component of personal financial security.   Get the right fit for you – contact a professional Navy Mutual life insurance representative to discuss which plan will provide you and your family with financial security.   Visit us at, or call 800-628-6011.  

*Home Alone: Family Caregivers Providing Complex Chronic Care, an October 2012 report by AARP and the United Hospital Fund, and funded by the John A. Hartford Foundation. Show Full Article