An Affordable Solution for Your Long-Term Care Needs

Feb 1st, 2017

You spend your entire life working hard to build up your assets and savings so you can secure a comfortable future for you and your family. A chronic illness could cause you to spend those assets much more quickly than you ever expected. Fortunately, there is an affordable solution that can help you reduce out-of-pocket expenses and ease the burden and financial strain on you and your family: A Chronic Illness Accelerated Benefit (CIAB) Rider.

What is a Chronic Illness Accelerated Benefit Rider?

A CIAB Rider is combined with your permanent life insurance policy to serve as an additional safety net in the unfortunate event of a chronic illness. Some of the policy benefits include:

  • No waiting period
  • A lower reduction in the death benefit and cash value when the rider is exercised
  • There is no impact to policy premiums or values unless the benefit is exercised
  • No additional fees will be charged for exercising the rider
  • Any unused portion goes directly to your beneficiaries

Get the facts:

  • The average age of individuals filing for bankruptcy due to medical costs was 44.9 years old.
  • Nearly 70% of people turning age 65 can expect to use some form of long-term care during their lives.
  • The average cost for a semi-private room in a nursing home in northeastern New York is $117,672 annually.
  • One third of family caregivers spend more than 30 hours per week on caring for a loved one making it almost the equivalent of a full-time job.

How can a Chronic Illness Accelerated Benefit Rider help?

In addition to providing peace of mind and better control of your assets, this policy can provide you with extra resources to help cover: 

  • Medical expenses not paid by health insurance
  • Home renovations or equipment
  • Household help or home caregiver expenses
  • Nursing home fees

Get Started Today

Our Certified Estate Planner and Long-Term Care Specialist, Sheila Cervera, is available at no cost to assist you with your long-term care planning needs. As a specialist in asset protection and long-term care insurance, she can evaluate your unique situation and help you navigate through your planning process.

Call Sheila today at 888-250-6689 x2026 to request an appointment.




(NerdWallet Health Analysis, 2013)
(US Department of Health and Human Services, 2014)
( survey, 2014)  

For more information or to obtain a free, no-obligation quote please call our team at 518-786-9905 or 888-250-6689 (toll free).