Universal Life with Long-Term Care Insurance

Call 888-520-2469 to review options with a benefits expert!

*Enrollment in Trustmark products is only available for new hires (within 45 days from date of hire)*

The long-term care issue

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.

However, with the right long-term care solution, you can be ready. WSU is pleased to offer benefit-eligible employees two options for LTC protection: Trustmark Universal Life and Universal LifeEvents®.

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 (Example: $50,000 Policy)

Universal Life

 

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

 

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.

Additional details:

  • Enrollment in Trustmark products is only available for new hires (within 45 days from date of hire) or during special annual enrollment periods. Enrollment is voluntary: your choice.
  • All benefit-eligible employees (appointment of at least 50%) are eligible to apply for coverage, and select coverage for your spouse, children and dependent grandchildren.
  • 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.)
  • (Note: If you have a previously-offered John Hancock Group Long Term Care Insurance policy and have questions, please contact John Hancock at 1-800-400-5083.)

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.