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Long-term care insurance

Protect your loved ones and retirement from long-term care costs

You work hard and save for your future. You look forward to using those savings for a relaxing and well-deserved retirement. But what if you need long-term care because of age-related issues or illness? Nursing home costs and home care assistance can deplete a nest egg quickly. Protect your retirement assets from the unexpected costs of long-term care with a solution from RiverSource.

What is long-term care insurance and what does it cover?

People are living longer and it’s possible that at some point, you may need help taking care of yourself due to a chronic or disabling condition. Long-term care (LTC) insurance helps pay for many services not covered by regular health insurance. This includes assistance with daily living tasks such as bathing and dressing, and the cost of 24/7 nursing home care. LTC insurance gives loved ones peace-of-mind knowing that you are cared for and protects your savings from the high costs of LTC. Most LTC insurance policies help cover services such as:

  • In-home care
  • Nursing home costs
  • Adult day care
  • Assisted living services
  • Care coordination
  • Home modification

Speak with an advisor to learn more details and find the best policy to fit your specific needs.

 

 

 

Long-term care insurance solutions

  • AdvanceSource® Rider

  • TrioSource℠ Universal Life Insurance

RiverSource AdvanceSource® accelerated benefit

rider

A rider is a provision that adds extra benefits to any insurance policy. Riders often require an extra premium, but can customize a policy to better fit your individual needs.

with long-term care benefits

  • The AdvanceSource® rider can only be added at time of application
  • Use some or all of the death benefit—tax-free*— for qualified long-term care expenses

  • Any death benefit not used for LTC becomes an income tax-free death benefit to loved ones

*The benefit is intended to qualify for exclusion from income within the limits of the Code. Receipt of benefits in excess of those limits may be taxable. Consult a tax adviser regarding the taxation of any benefits received.

Add the protection of the AdvanceSource long-term care insurance rider.

RiverSource® TrioSource℠ universal life insurance with long-term care benefits (Currently Unavailable)

  • Use for long-term care expenses while living or for an income tax-free benefit to your loved ones after you are gone

  • A simple one-time payment; ideal if you have assets to reallocate
  • Money back guarantee1 if you change your mind or your situation changes

70% of people over 65 will need long-term care services at some point.

Longtermcare.gov, U.S. Department of Health and Human Services 2019

Talk to an advisor

Talk to an Ameriprise advisor to discuss how RiverSource solutions can help you. Don’t have an advisor? Find one who is right for you now.

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1When you apply for coverage, you choose between two Return of Premium (ROP) options: the base option ROP percentage is 80% in all years; the enhanced option ROP percentage is 80% in year 1 and increases each year until it reaches 100% in years 6 and later. The return of premium is equal to the ROP percentage times the total premium paid less any partial surrenders, outstanding policy loans and long-term care benefits paid.
These policies have exclusions, limitations, reduction of benefits and terms under which the policy may be continued in force or discontinued. For costs and complete details, contact your Ameriprise financial advisor or call 1.866.877.4390.
The purpose of this communication is the solicitation of insurance. Contact will be made by an insurance agent, insurance producer or insurance company.
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