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Planning for Retirement Health Care Costs

“I think we’ll be okay … unless one of us gets really sick.”

You’ve probably heard this from prospects before and without the right solution, it can be a difficult situation to address. Luckily, Securian Financial offers a variety of tools that can help protect prospects from the rising cost of health care in retirement, and secure their assets and retirement futures.

In today’s world, helping clients create a strategy to combat the cost of care in retirement is a critical part of your work with them. But it’s not enough to just offer ANY solution – you need to offer a solution specifically tailored to meet their needs. Leveraging Securian Financial’s three product lines – linked-benefit, annuity and life insurance – can help you create customized retirement strategies uniquely attuned to your clients’ priorities and concerns.

Product Lines

Linked-Benefit

SecureCare Universal Life
If one of a client’s top concerns is protection during an extended health care event, SecureCare may be a great choice. SecureCare offers a guaranteed minimum death benefit, cash indemnity long-term care (LTC) benefit, potential to deduct LTC premiums, multiple premium payment options and robust international benefits.*

Annuity

SecureOption® Choice
With no underwriting, competitive interest rates and attractive liquidity features, SecureOption® Choice is ideal for clients who want to save money for retirement and potential care needs at a guaranteed interest rate.


Life Insurance

Value Protection Indexed Universal Life (IUL)
For clients who want ample death benefit coverage at a low cost and desire to shield their assets and loved ones from the financial impact of a chronic illness, Value Protection IUL with a chronic illness rider may be the solution they need.

Marketing Resources

Linked Benefit Tools:
Financial Professionals:
Using Tax-Advantaged Dollars for LTC
Funding LTC with an HSA

For Consumers:
Indemnity vs. Reimbursement Brochure
This brochure is for states subject to IIPRC standards. To receive a state-specific version, contact the SecureCare Sales Team
Life Insurance Tools:

Department Heads

*Qualified long-term care services received outside the United States, its territories or possessions are limited to the non-United States monthly benefit limit. If the insured returns to the United States, the non-United States monthly benefit limit will no longer apply.

Product features and availability may vary by state.

Please keep in mind that the primary reason to purchase a life insurance product is the death benefit.

Guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company.

Life insurance products contain fees, such as mortality and expense charges (which may increase over time), and may contain restrictions, such as surrender periods.

Additional agreements may be available. Agreements may be subject to additional costs and restrictions. Agreements may not be available in all states or may exist under a different name in various states and may not be available in combination with other agreements.

An annuity is intended to be a long-term, tax-deferred retirement vehicle. Earnings are taxable as ordinary income when distributed, and if withdrawn before age 59½, may be subject to a 10% federal tax penalty. If the annuity will fund an IRA or other tax-qualified plan, the tax-deferral feature offers no additional value. Qualified distributions from a Roth IRA are generally excluded from gross income, but taxes and penalties may apply to non-qualified distributions. There are charges and expenses associated with annuities, such as surrender charges for early withdrawals.

Not all products and features are available from all firms.

The Indexed Universal Life Series is designed first and foremost to provide life insurance protection. While the interest crediting options are attractive for cash accumulation, the product should always be promoted to first meet the death benefit needs of families and businesses with cash accumulation as a secondary benefit. One cannot invest in an index.

SecureCare may not be available in all states. Product features, including limitations and exclusions, may vary by state.

SecureCare Universal Life Insurance includes the Acceleration for Long-Term Care Agreement. The Acceleration for Long-Term Care Agreement and Extension of Long-Term Care Benefits Agreements are tax-qualified long-term care agreements that cover care such as nursing care, home and community based care, and informal care as defined in these agreements. These agreements provide for the payment of a monthly benefit for qualified long-term care services. These agreements are intended to provide federally tax-qualified long-term care insurance benefits under Section 7702B of the Internal Revenue Code, as amended. However, due to uncertainty in the tax law, benefits paid under these agreements may be taxable.

The death proceeds will be reduced by a long-term care or terminal illness benefit payment under this policy. Clients should consult a tax advisor regarding long-term care benefit payments, terminal illness benefit payments, or when taking a loan or withdrawal from a life insurance contract.
Due to uncertainty in the tax law, chronic illness and long-term care benefits paid from a life insurance contract may be taxable. Please ensure that your clients consult a tax advisor regarding chronic illness care and long-term care benefit payments from a life insurance contract.

Policy loans and withdrawals may create an adverse tax result in the event of lapse or policy surrender, and will reduce both the surrender value and death benefit. Withdrawals may be subject to taxation within the first fifteen years of the contract. Clients should consult their tax advisor when considering taking a policy loan.

This information should not be considered as tax or legal advice. Clients should consult their tax or legal advisor regarding their own tax or legal situation.

These materials are for informational and educational purposes only and are not designed, or intended, to be applicable to any person's individual circumstances. It should not be considered investment advice, nor does it constitute a recommendation that anyone engage in (or refrain from) a particular course of action. Securian Financial Group, and its affiliates, have a financial interest in the sale of their products.

INSURANCE PRODUCTS ARE ISSUED BY MINNESOTA LIFE INSURANCE COMPANY in all states except New York. In New York, products are issued by Securian Life Insurance Company, a New York authorized insurer. Minnesota Life is not an authorized New York insurer and does not do insurance business in New York. Both companies are headquartered in St. Paul, MN. Product availability and features may vary by state. Each insurer is solely responsible for the financial obligations under the policies or contracts it issues.

Securian Financial is the marketing name for Securian Financial Group, Inc., and its affiliates. Minnesota Life Insurance Company and Securian Life Insurance Company are affiliates of Securian Financial Group, Inc.

For financial professional use only. Not for use with the public. This material may not be reproduced in any way where it would be accessible to the general public.

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