Life Insurance – Valuable Protection for Your Loved Ones
Lifetime Benefit Term helps protect you and your family in the event you were no longer able to provide for them. Your family can receive cash benefits paid directly to them upon your death that they can use to help cover expenses like mortgage payment, credit card debit, childcare, college tuition and other household expenses. When you make the promise to protect your family with LifeTime Benefit Term, there are several ways it can work.
- As Life Insurance
- For Qualified Long-Term Care
- Restoration of Your Death Benefit
Term Life Insurance Built for Today
- Life insurance premiums will never increase and are guaranteed to age 100.
- After age 70, the benefit is guaranteed to never be less than 50% of original death benefit.
- After 10 years, paid up benefits begin to accrue.
- If you need Long-Term Care (LTC), you can access your death benefit while you are living for home health care, assisted living, adult day are and nursing home care.
- Your contract contains a guarantee that if an increase to the LTC rider premium might cause you to lapse your coverage within 120 days, you’ll have the option to retain LTC benefits of a reduced amount without any increase in premium.
- After your coverage has been in force for 2 years, you can receive 50% of your death benefit, up to $100,000, if you are diagnosed as terminally ill.
- Additional Child Term (additional premium required) up to $25,000 with guaranteed conversion to individual coverage at age 26 – up to 5 times the benefit amount.
About CHUBB
CHUBB Life Insurance with a Long-Term Care benefit is a direct-bill policy, meaning premiums are paid directly to CHUBB rather than through payroll deductions. Enrollment in this coverage is only available during Annual Enrollment and cannot be added mid-year.
For more information on this benefit, contact Customer Service at 855-241-9891 x3 or email csmail@gotoservice.chubb.com.
How LifeTime Benefit Term Can Be Used
Three Options |
Life Situation |
Death Benefit |
Long-Term Care |
Total Benefit |
| 1. Life Insurance | You lead a full life and do not need LongTerm Care (LTC) | $100,000 | — | |
| 2. Long-Term Care (LTC) insurance | You lead a full life and need assisted living or nursing home care | — | $100,000 | $100,000 |
| 3. Split your Death Benefit for LTC & Life insurance | You lead a full life but also need some LTC funds (example: 4% of $100,000 for 12 months) | $52,000 | $48,000 | |
Additional Death Benefits |
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| Restore your Death Benefit | If you deplete your entire death benefit due to LTC, we will restore your death benefit to 50% of your original death benefit | $50,000 | — | $50,000 |
| Option 1, 2 or 3 + Restoration of Death Benefit = Total Coverage $150,000 |