April 24, 2014

Elyria
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Protect Your Assets

Asset-Care® is designed to help you protect your assets by using the safety of whole life insurance. With your one-time premium, you receive a guaranteed amount of life insurance coverage, all of which can be used for qualifying long-term care benefits.
The cash value is credited with a minimum guaranteed interest rate, and grows each month. And, should you ever decide Asset-Care no longer fits your needs, you can request and receive a full return of premium (less any prior distributions taken).
Asset-Care can help to safeguard the rest of your estate by providing coverage for qualifying long-term care – such as care in your own home or in an assisted living facility. Long-term care benefits are paid out of your policy’s death benefit. You can qualify for long-term care coverage in one of two ways:
1) Being unable to perform at least two of six activities of daily living*1
2) Requiring care as a result of a cognitive impairment (such as Alzheimer’s disease).
Before your policy can provide long-term care benefits, you must pay the first 60 days of qualifying benefits (known as the waiting period).
Single premium – guaranteed
With Asset-Care, you can utilize an existing asset – typically money you currently have in CDs, savings, annuities, IRAs or retirement plan funds – as your guaranteed single premium. This allows you to avoid ongoing, non-guaranteed annual premiums usually required by other forms of long-term care insurance.
Consequently, your money can work more effectively for you in case of long-term care expenses. It can also be a significant addition to your estate. Since it’s life insurance, any unused long-term care benefits pass to the named beneficiaries. A full return of premium is available in single premium Asset-Care policies, meaning you can decide – at any time – that you no longer want your Asset Care and receive at least the single premium you paid (less any prior distributions taken).*2
Call Don Binnie & Associates for more information at (440) 926-1133.
*1.Activities of daily living are bathing, continence, dressing, eating, toileting and transferring. Please review more details in the Outline of Coverage, which your insurance representative will provide you. The Outline of Coverage also has more details on policy coverage, as well as exclusions and limitations.
*2.Full return of premium is available for base coverage only. Options and single premium riders have a first-year return of premium.