Independent Living is a long-term care insurance that guarantees a monthly benefit in case of loss of independence.

Issue Ages - (Age nearest)
 

• 18 to 80 
   

Sum Insured
 

• Min: $1,000 per month
• Max:$8,500 per month (for all policies with the same insured)
   

Benefit amount may be increased in increments of $100

Benefit Duration

Lifetime 

Rate Bands
 

• None
   

Premiums
 

• Payable for 20 years
   

Guaranteed premium
 

• Premium payable does not change for the first 5 years of the policy. No additional premiums are required after 20 years.
   

Number of Insured's per Policy
 

• There is only one insured person per policy contract
   

Waiting Period

Benefit payable after a waiting period of:
 

• 30 days
• 90 days
• 180 days
   

Paid-up insurance
 

• Free of charge
• Paid-up insurance for a reduced duration if the policy has been in-force for 10 years or more
• The designated monthly benefit amount is paid; however, it terminates once the total amount paid reaches the total premium collected for the long term care benefit
   

Spousal Reduction
 

• Total premium is reduced by 10% when both spouses purchase an individual long-term care policy at the same time (permanent discount after first year premiums have been paid on each benefit).
• This discount is not available for relationships other than spousal.
   

Surrender Charges
 

• None
   

Accelerated Health Care
 

• N/A
   

Life Insured Options
 

• Individual
   

Conversion Privilege
 

• None
   

• The portion of the sum insured that is added is payable for life. The cost of the benefit is payable to age 80 as long as it remains inforce.
   

Return of premiums at death (option)
 

• At the time of death, the total of all long-term care modal premiums paid, less any benefit already received, is paid to the insured's designated beneficiary.
• Issue ages: 18 to 55 (age nearest birthday)
   

Loss of Independence Definition
 

• Benefit payable while dependent.
• Definition: When the insured needs the help from another person to accomplish at least 2 of the following common activities of daily living (ADLs):

1. bathing
2. dressing
3. eating
4. toileting
5. continence
6. transfering
    

     OR
 

• Suffering from a cognitive impairment, the insured need to be supervised continually to avoid hazard for his security and other's security.
   

Competitive Advantage
 

• Income-type long-term care coverage: the insured receives a monthly benefit he/she can use at his/her discretion.
• No receipt is required: we do not ask for any proof of expenses incurred because of his/her state of health.
   

Policy Fee
 

• $150 per insured
• No fees for additional amounts purchased each 3 years with the option to increase amount of long-term care benefit.