Life Insurance with LTC - Trustmark

Life Insurance with LTC - Trustmark  

Overview

Protecting your loved ones is one of life’s greatest responsibilities. When a family loses someone, in addition to grief, survivors may suddenly be faced with costly expenses and debts and even a loss of income. You may also, at any point in your life, need long-term care services, which could cost hundreds of dollars per day. Many families would have trouble paying for living expenses if they lost their primary earner.

 

Life Insurance with Long-Term Care (LTC) combines the benefits of life insurance with living benefits, which can be utilized for long-term care, home healthcare, adult day care, or assisted living. Many people have concerns about protecting their families’ future should something happen to them. Adding to these concerns is the likelihood that they will need LTC. Life Insurance with living benefits provides an answer to both of those worries. Buying LTC insurance may be cause for hesitation due to the cost or fear of not utilizing the benefits, but this product does not create a “use it or lose it” situation. Regardless of whether the benefit left is from LTC or life, the beneficiary will still receive payout.

Enrollment

Get more information and begin your enrollment today.

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Contact Us

Phone
1-866-324-4080
Hours
M-F 9a-6p ET
Email
customer.service@mercer.com

How It Works

*The LTC benefit can be extended for an additional 25 months with Extension of Benefits.

FAQ's

Answers about the plan, including eligibility, options, enrollment, customer service and more.

  • Who is the provider?

    Your employer has made arrangements with Mercer Voluntary Benefits to offer you access to a Life Insurance with Long-Term Care benefit. This service will help your needs and offer you options from Trustmark.
  • How can this help me?

    The Life Insurance with Long-Term Care benefit combines the benefits of life insurance with living benefits which can be utilized for long-term care, home healthcare, adult day care or assisted living. This can help you protect your families’ future with end-of-life benefits and provide a benefit to you should you need LTC services.

     

    You may be hesitant to buy LTC insurance because of the cost or fear of not utilizing the benefits, but this product does not create a “use it or lose it” situation. Regardless of whether the benefit left is from LTC or life, the beneficiary will still receive payout.

  • When can I enroll?

    You can enroll with streamlined underwriting during the initial special enrollment period. Outside of the special enrollment, you will subject to health questions. As a qualifying new hire, you can enroll without answering health questions during the new hire enrollment period.
  • How much will this coverage cost?

    Your cost is based on several factors including your age, any special features you select, and the amount of coverage you want.
  • What if my employment status changes?

    When you leave or retire from your current employer, you can continue your coverage without interruption. Although payroll deduction will no longer be available if you retire or leave your company, you can opt for bank account deduction.
  • Won’t the Federal Government pay for my Long-Term Care?

    Medicare provides minimal financial support for LTC services. Medicare was designed to pay for acute medical conditions and post-rehabilitative care; it was not intended to pay for costs associated with LTC. To qualify for nursing home care under Medicare, a three-day hospital stay is required, and care must be rehabilitative in nature. If these conditions are met, Medicare will pay for the first 20 days. Days 21-100 require a co-payment. There is no coverage after day 100.

Mercer's Role & Compensation

Details of Mercer disclosure of the compensation.