Long-term care insurance solutions
As you prepare for the possibility of extended care, you have options: traditional long-term care insurance or a plan that can cover long-term care if you need it—and pay a life insurance death benefit if you don't.
70% of Americans don’t have a plan documenting how they’ll provide extended care for themselves or a family member, should the need arise.¹ Preparing for that possibility looks different for each person. As you consider how long-term care insurance may fit within your overall financial strategy, think about several key factors.
The amount of coverage you’d like
Identifying the type of care you’d prefer—and the duration of care you want to prepare for—can help you calculate an amount of coverage that will make you feel comfortable.
The flexibility you want
You may want a solution with a range of features and options to choose from. Or, a higher priority may be to obtain coverage that provides a benefit even if you never need long-term care.
The financial products you already own
The life insurance and retirement savings you already have in place can help shape your decisions about the type—and amount—of long-term care insurance you acquire.
The amount of coverage you’d like
Identifying the type of care you’d prefer—and the duration of care you want to prepare for—can help you calculate an amount of coverage that will make you feel comfortable.
The flexibility you want
You may want a solution with a range of features and options to choose from. Or, a higher priority may be to obtain coverage that provides a benefit even if you never need long-term care.
The financial products you already own
The life insurance and retirement savings you already have in place can help shape your decisions about the type—and amount—of long-term care insurance you acquire.
Which solution works best for you?
Is traditional long-term care insurance a good fit? Or would you benefit more from a product that combines aspects of long-term care insurance and life insurance?
A traditional long-term care insurance solution
Thrivent Long-Term Care Insurance helps cover costs of extended care.
- Offers a wide range of features and options to consider, making it a simple, yet highly customizable solution.
- May make sense if you already have life insurance—or aren’t looking for it at this time.
- Provides coverage whether you prefer to receive extended care at home or in a facility.
- Your financial advisor can tailor your contract to reflect your anticipated care needs.
Life and long-term care insurance, combined
Thrivent’s CareForward® is a flexible, multifaceted solution.
- Helps cover costs of extended care if you need it. If you don’t—or need less than you prepared for—it provides a life insurance death benefit.
- Your premiums remain stable. And the younger you are when you purchase the contract, the lower those premiums will be.
- Provides coverage whether you prefer to receive extended care at home or in a facility.
- Offers access to accumulated cash value in the contract’s life insurance component.
A traditional long-term care insurance solution
Thrivent Long-Term Care Insurance helps cover costs of extended care.
- Offers a wide range of features and options to consider, making it a simple, yet highly customizable solution.
- May make sense if you already have life insurance—or aren’t looking for it at this time.
- Provides coverage whether you prefer to receive extended care at home or in a facility.
- Your financial advisor can tailor your contract to reflect your anticipated care needs.
Life and long-term care insurance, combined
Thrivent’s CareForward® is a flexible, multifaceted solution.
- Helps cover costs of extended care if you need it. If you don’t—or need less than you prepared for—it provides a life insurance death benefit.
- Your premiums remain stable. And the younger you are when you purchase the contract, the lower those premiums will be.
- Provides coverage whether you prefer to receive extended care at home or in a facility.
- Offers access to accumulated cash value in the contract’s life insurance component.
Try our calculator
Entering information about your location, anticipated care needs and current savings can help you project future care costs—and how much insurance coverage could help you meet them.
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THRIVENT IS THE MARKETING NAME FOR THRIVENT FINANCIAL FOR LUTHERANS.
¹Thrivent’s 2021 Extended Care Planning Survey. (PDF)
Long-term care insurance is not offered by Thrivent in the state of New York.
Guarantees based on the financial strength and claims-paying ability of Thrivent.
CareForward® is eligible to earn dividends; however, dividends are not anticipated or guaranteed. CareForward® is intended to qualify as life insurance under the Internal Revenue Code (IRC) and as federally tax-qualified long-term care insurance as defined by IRC §7702B(b). The death benefit provided by this contract is intended to qualify for federal income tax exclusion. The contract also provides long-term care benefits to help pay for eligible long-term care expenses such as: facility care, home health care, adult day care, special equipment and home modifications.
CareForward® is noncancelable, which means that you have the right to continue the policy in force by making the timely payment of premiums set forth in your contract.
CareForward® premiums are guaranteed to remain level for the life of the contract. If a premium is not paid by the date it is due, the contract will remain in force during a grace period of 65 days. A notice will be given to you if a premium is not paid after 30 days. The contract will enter a Reduced Paid-up status 30 days after a notice is given if a premium is not paid. Notice will be deemed to have been given as of five days after the date we mail it.
Partial surrenders and decreases to the face amount will proportionately reduce the LTC Total Available Benefit. The LTC Maximum Monthly Benefit will remain the same. Reducing the LTC Benefit Multiplier will reduce the LTC Total benefits to zero. If there is debt on the policy and when LTC benefits are paid, the debt will decrease proportionately to the decrease in Face Amount. This debt decrease will reduce the net LTC benefit amount that you receive.
All applications are subject to the underwriting requirements of Thrivent. A medical exam may be required.
Premiums are not guaranteed to remain unchanged, except during the first five contract years; however, in the state of Florida, premiums may change for the contract but not more frequently than once a year. Any changes in premium rates will apply to all similar contracts issued in your state to contract owners in the same class on the same contract form. This means you cannot be singled out for an increase because of advancing age, changes in your health, claim status or any other reason solely related to you.
Long-term care insurance may not cover all of the costs associated with long-term care. You are advised to review your contract carefully. The contract has exclusions, limitations and terms under which the benefits may be reduced, or the contract may be discontinued. Contract provisions and maximum monthly benefits may vary by state. For costs and complete details of coverage, contact your licensed insurance agent/producer.
If requested, a licensed insurance agent/producer may contact you and financial solutions, including insurance, may be solicited.
Contract Forms: L-KZ-WL (21), L-JZ-SPWL (21), H-HX-LTC (13), H-HX-LTC (15), H-HL-LTC MT (16) Series.
¹
Long-term care insurance is not offered by Thrivent in the state of New York.
Guarantees based on the financial strength and claims-paying ability of Thrivent.
CareForward® is eligible to earn dividends; however, dividends are not anticipated or guaranteed. CareForward® is intended to qualify as life insurance under the Internal Revenue Code (IRC) and as federally tax-qualified long-term care insurance as defined by IRC §7702B(b). The death benefit provided by this contract is intended to qualify for federal income tax exclusion. The contract also provides long-term care benefits to help pay for eligible long-term care expenses such as: facility care, home health care, adult day care, special equipment and home modifications.
CareForward® is noncancelable, which means that you have the right to continue the policy in force by making the timely payment of premiums set forth in your contract.
CareForward® premiums are guaranteed to remain level for the life of the contract. If a premium is not paid by the date it is due, the contract will remain in force during a grace period of 65 days. A notice will be given to you if a premium is not paid after 30 days. The contract will enter a Reduced Paid-up status 30 days after a notice is given if a premium is not paid. Notice will be deemed to have been given as of five days after the date we mail it.
Partial surrenders and decreases to the face amount will proportionately reduce the LTC Total Available Benefit. The LTC Maximum Monthly Benefit will remain the same. Reducing the LTC Benefit Multiplier will reduce the LTC Total benefits to zero. If there is debt on the policy and when LTC benefits are paid, the debt will decrease proportionately to the decrease in Face Amount. This debt decrease will reduce the net LTC benefit amount that you receive.
All applications are subject to the underwriting requirements of Thrivent. A medical exam may be required.
Premiums are not guaranteed to remain unchanged, except during the first five contract years; however, in the state of Florida, premiums may change for the contract but not more frequently than once a year. Any changes in premium rates will apply to all similar contracts issued in your state to contract owners in the same class on the same contract form. This means you cannot be singled out for an increase because of advancing age, changes in your health, claim status or any other reason solely related to you.
Long-term care insurance may not cover all of the costs associated with long-term care. You are advised to review your contract carefully. The contract has exclusions, limitations and terms under which the benefits may be reduced, or the contract may be discontinued. Contract provisions and maximum monthly benefits may vary by state. For costs and complete details of coverage, contact your licensed insurance agent/producer.
If requested, a licensed insurance agent/producer may contact you and financial solutions, including insurance, may be solicited.
Contract Forms: L-KZ-WL (21), L-JZ-SPWL (21), H-HX-LTC (13), H-HX-LTC (15), H-HL-LTC MT (16) Series.
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