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Consider the Facts
Ø By the year 2030, the older population will more than double to 71.5 million, and the 85+ population is projected to increase to 9.6 million (from 4.6 million in 2002).
Ø Nursing home care in 2003, for example, cost an average of $181 per day for a private room (or about $66,000 annually); a visit by a home health aide averaged $18 per hour.³
Care Options
Currently available for a fee of only 0.40% of your initial premium* annually, CARESolutions Plus adds dollars to your annuity upon qualification. The amount added will depend on the type of care you receive and the initial premium made to your annuity (the initial premium must be at least $25,000 but no more than $500,000).* You will receive:
Ø A full monthly benefit (equal to 1% of the initial premium*) applied to your annuity when you are admitted to a nursing home or residing in assisted living.
Ø A prorated monthly benefit (based on the number of days care is actually received) applied to your annuity when you receive home health care, adult day care, respite care or hospice care.
Once the benefit amount is credited to your annuity, no withdrawal charges will apply to this amount if you need to access it for any expenses.4 Or, you can leave it in your annuity to grow tax deferred.
To learn more about eligibility and considerations click here.
*The fee of 0.40% reduces your contract value, therefore lowering the amount of interest you earn. Initial premium will also include any premiums received within 60 days of purchasing the annuity.
An annuity is a long-term contract designed for retirement purposes, wealth accumulation, wealth distribution and wealth transference and not suitable for meeting short-term objectives.
CARESolutions Plus is not long-term care insurance and certain restrictions apply. The client must be between ages 40-75 to elect CARESolutions Plus as an optional rider.
Benefits and features are not available in all states.
GPA Plus is underwritten by John Hancock Life Insurance Company, Boston, MA
FACSPWEB 12/06 Policy and Rider Form Series:
03GPA; 03GPAGRP; 03CSP
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