Step #1: Select a Life Insurance amount
Eligible employees select up to $150,000
Step #2: Calculating your monthly Chronic Care benefit
You get 4% of the selected Life Insurance amount as your monthly chronic care benefit
Example:
$100,000 of life insurance x 4% monthly benefit access = $4,000 monthly care benefit
Step #3: Calculating your total chronic care benefit
You get twice the selected Life Insurance amount as your total care benefit
Example:
$100,000 of life insurance x 2x care benefit = $200,000 total care benefit
As long as coverage is active, a benefit will always pay. You don’t have to make any decisions on how you use your benefits until you actually need them.
Here is an example how the Trustmark program provides for you and your family:
Scenario 1: You don't use your chronic care benefits
$100,000 of life insurance benefits with $0 used for chronic care
Your death benefit amount would be paid to a beneficiary.
Scenario 2: You access both benefits
You can access up to 4% of your death benefit per month to help pay for chronic care services. The policy will pay up to 2x the death benefit amount for chronic care, and will still pay the full death benefit amount regardless of how much chronic care benefit has been used.
Note: Death benefit reduces to 1/3 the original amount at the later of age 70 or the 10th policy anniversary.