Universal Life with Long-Term Care Insurance through Trustmark
WSU is pleased to offer benefit-eligible employees two options for LTC protection: Trustmark Universal Life and Universal LifeEvents®.
The rising cost of long-term care services can be a serious financial concern for many American individuals and families. Professional care can cost hundreds of dollars per day, and often is not covered by health insurance or Medicare. Care may also be needed at any age, not just in elder years. Many people do not plan for this expense, and it can end up depleting retirement savings or burdening families.
New hires:
Call 888-489-9768 to review options with a benefits expert!
Two-in-one protection from Trustmark
Universal Life and Universal LifeEvents provide both a long-term care benefit and permanent life insurance in one affordable package.
- Pays 4% of your benefit amount per month, for up to 25 months, for professional LTC care (e.g., home health care, assisted living, nursing home).
- With optional Extension of Benefits rider, up to 50 months!
- A full death benefit is available for your beneficiaries, even if you collect for LTC.
- Universal LifeEvents: Get a higher benefit amount for the same rate. After age 70 (or the 15th policy anniversary, whichever is later) the death benefit reduces to one-third, but the higher LTC benefits remain.
- Available on guaranteed issue basis, as long as you haven't applied for coverage before, up to $100,000 in benefits (Employees over age 64 are not eligible to apply).
- Rates are based on your age when you apply and won't go up due to age.1
Video: How Universal Life works
Video: How long-term care benefits can help
Example of how benefits may pay ($50,000 Universal Life policy)
LTC benefit - $2,000/month for 25 months: $50,000
With optional Extension rider, an additional 25 months: $50,000
Death benefit for beneficiaries: $50,000
Total maximum benefit: $150,000
Compare Universal Life vs. Universal LifeEvents
Universal Life (Example: $50,000 policy)
| Death Benefit | Max LTC Benefit | Max LTC Benefit (With Extension Rider) | |
|---|---|---|---|
| Before Age 70 | $50,000 | $50,000 | $100,000 |
| After Age 70 | $50,000 | $50,000 | $100,000 |
Universal LifeEvents (Example: $50,000 policy)
| Death Benefit | Max LTC Benefit | Max LTC Benefit (With Extension Rider) | |
|---|---|---|---|
| Before Age 70 | $50,000 | $50,000 | $100,000 |
| After Age 70 | $16,667 | $50,000 | $100,000 |
Universal LifeEvents death benefit reduces to one-third at the latter of age 70 or the 15th policy anniversary; issue age is 18-64.
Click here to view sample rates
Program advantages
- No bills to watch for: all payment via convenient WSU payroll deduction.
- Universal Life and Universal LifeEvents both build cash value over time.
- Apply for your spouse, children and dependent grandchildren as well as yourself.
- Coverage is fully portable: take it with you if you change jobs or retire.
Eligibility
All new benefit-eligible employees (appointment of at least 50%) are eligible to apply for coverage, and select coverage for your spouse, children and dependent grandchildren within 45 days from date of hire (or during an announced special annual enrollment period). Issue age for Universal LifeEvents is 18-64. Issue age for Universal Life is 18-75 (policies age 71-75 do not include LTC benefits.)
Enrollment
Enrollment in Trustmark products is only available for eligible new hires within 45 days from date of hire or during special annual enrollment periods (as announced). Enrollment is voluntary and 100% employee paid via bi-weekly payroll deductions.
To enroll: call 888-489-9768 to review options with a Trustmark representative.
Products underwritten by Trustmark Insurance Company. Your policy will contain complete information. Trustmark and LifeEvents are registered trademarks of Trustmark Insurance Company. 1Please refer to your policy and personalized Life Insurance Illustration (provided to you with your policy) for a detailed explanation regarding factors that can affect the minimum premiums payable under your flexible premium policy.
Claims & Questions
Website: TrustmarkVB.com
Policy questions: 800-918-8877
Claims: 877-201-9373 or file online at TrustmarkVB.com/claims
Please note: If you have a previously-offered John Hancock Group Long Term Care Insurance policy and have questions, please contact John Hancock at 800-482-0022.