Trustmark Universal Life and Universal LifeEvents® marketing pieces and presentations provide a brief description of benefits under GUL.205/IUL.205 and applicable riders HH/LTC.205, BRR.205, BXR.205, ABR.205, ADB.205, CT.205 and WP.205. Benefits, definitions, exclusions, form numbers and limitations may vary by state. This policy contains a provision that guarantees against lapse for a period of 10 years for standard Universal Life (14 years in Oregon) and 15 years for Universal LifeEvents as long as premiums are paid as planned. If you make changes to your coverage during this period, or pay only the minimum premium, you may prevent cash value accumulation or reduce your death benefit amount. If there is negative cash value at the end of the no-lapse period, you must pay enough premium to establish positive cash value. You may also need to maintain your policy with a higher premium than the one you paid to satisfy the no-lapse guarantee or coverage may expire prior to age 100 even if the premium shown is paid as scheduled. A policy illustration will be delivered with your policy. Please consult your policy for complete information. For costs and further details of the coverage, including exclusions, any reductions or limitations and terms under which the policy may be continued in force, see your agent or write the company. Underwriting conditions may vary, and determine eligibility for the offer of insurance.
The LTC Benefit Rider (HH/LTC.205) is an acceleration of the death benefit and is not Long-Term Care Insurance (except in FL, LA and VA, where the LTC benefit is Long-Term Care Insurance). It begins to pay after 90 days of confinement or services, and to qualify you must meet conditions of eligibility for benefits. Pre-existing condition limitation may apply. Benefits may not be available in all states or may be named differently. Please refer to your policy/group certificate and outline of coverage, if applicable, for complete information.
In NY, HH/LTC.205 is the Convalescent Care Benefit Rider. In FL, HH/LTC.205 is the Long Term Care Insurance Accelerated Death Benefit Rider. In MA, HH/LTC.205 is the Accelerated Death Benefit for Chronic Illness Rider.
Underwritten by Trustmark Insurance Company, Lake Forest, Illinois. In NY, Universal Life and Universal LifeEvents® are underwritten by Trustmark Life Insurance Company of New York, Albany, New York. LifeEvents® is a registered trademark of Trustmark Insurance Company.
For additional disclosures specific to your state, see below.
In California, review “A Consumer’s Guide to Long-term Care from the Department of Aging” at https://www.aging.ca.gov/aboutcda/publications/Taking_Care_of_Tomorrow_English/.
Limitations for Long-Term Care (LTC) Insurance Accelerated Death Benefit Rider
For benefits to be payable under this LTC insurance rider, you must:
There are no deductibles for benefits. The elimination period is the first 90 days of services or confinement during which no benefits are payable.
Limitations and Exclusions
Benefits will not be paid for loss:
Pre-Existing Condition Limitation: Benefits will not be paid for loss due to a pre-existing condition that starts during the first six months after the effective date.
BENEFITS MAY NOT COVER ALL THE EXPENSES ASSOCIATED WITH YOUR LONG-TERM CARE NEEDS.
Guaranteed Renewability: The rider is guaranteed renewable as long as premiums are paid on time, subject to material misrepresentation on the application. The company cannot change the terms of coverage, but it may increase the premiums you pay. Any change in monthly cost will be subject to applicable state laws and regulations.
The rider terminates on the earliest of: 1) written notice by you; 2) termination of the certificate, or 3) when the company has paid benefits for the maximum number of months.
Benefits paid under this rider may or may not be taxable. Whether or not you or your beneficiary incurs a tax liability when benefits are paid depends on how the IRS interprets applicable portions of the Tax Code. As with all tax matters, you should consult your personal tax advisor to assess the impact of this benefit. Trustmark Insurance Company has no responsibility for any tax consequences of any benefits paid under this rider. This rider is not intended to be qualified long-term care insurance within the meaning of the Internal Revenue Code of 1986.
Exclusions and limitations of rider HH/LTC.205 KS:
This rider does not pay benefits for loss:
Exclusions and Limitations:
This rider does not pay benefits for loss:
Pre-existing condition limitation:
This rider does not pay benefits for loss due to a Pre-existing Condition that starts during the first six (6) months after the application date for this rider.
EZ Value Future Purchase Option/EZ Value Benefit Increase is not available in New York.
Limitations for Convalescent Care Benefit Rider
Provided the conditions for payment are met, and upon certification from a Licensed Health Care Practitioner, benefits are payable after you have received services while confined in a long-term care or assisted living facility or received home health care or adult day care services for 90 days, and benefits are payable retroactive to the first day of service. This 90-day period need not be continuous. It must, however, be entirely within one Benefit Period.
The following conditions must be met to qualify for benefits:
Chronically ill or chronic illness means that you have been certified, within the preceding 12 months, by a licensed health care practitioner as:
This rider does not pay benefits for loss:
Premium
We have the right to adjust the premium rates with notice to the department of insurance. Any increase in premium rates will be done on a class basis. Your maximum premium rate for this rider is shown on your schedule.
This rider is intended to be a qualified long-term care insurance contract under Section 7702B(b) of the Internal Revenue Code. This is not a health insurance rider and is not subject to the minimum requirements of New York Law pertaining to long-term care insurance. This rider does not qualify for the New York Long-Term Care Partnership Program, and is not a Medicare Supplement Policy. This rider is intended to be a qualified long-term care insurance contract for federal tax law only.
See Rider HH/LTC.205 (I) NY for exact terms, provisions, exclusions and limitations.
This represents all possible exclusions and limitations that may apply. Actual exclusions and limitations may vary by policy. Your policy will contain exact details.
An A.M. Best rating is an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. It is not a recommendation of the specific policy provisions, rates or practices of Trustmark. Trustmark is rated A- (4th out of 16 possible ratings ranging from A++ to Suspended).
Last Updated 2/4/2019