Financial Independence for You and Your Loved Ones
Life with Long-Term Care Advance provides affordable, permanent life insurance protection and tax-free monthly benefits in the event that you experience a loss of independence.
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You have the choice at time of application:
Protection payable up to age 65 (minimum of 15 years): 0-65
Protection payable in 20 years: 0-75
You'll receive a tax-free monthly benefit if you need daily care after age 65 or 10 years after the contract is issued, whichever is later. The tax-free advance equals 1% of your life insurance amount for up to 100 months, subject to a 3-month waiting period. This advance is interest-free and premiums are waived as long as you are receiving benefits.
- At death, the balance of your insurance is paid to your beneficiaries with a minimum of 25% of your initial life insurance amount. This means that your insurance could pay 125% of your initial insurance amount!
- You can pay premiums monthly, semi-annually or annually.
- Guaranteed cash value grows tax-deferred. Cash values can be accessed during your lifetime.
- No matter how large the death benefit, it passes to your beneficiaries generally income tax-free.
And typically, the sooner you purchase your Life with Long-Term Care Advance policy, the lower your premiums will be. Talk to a State Farm® agent for details on costs, coverages and restrictions.