PERSONAL INSURANCE
LONG-TERM CARE COVERAGE
Christi offers the highest-quality long-term care solutions designed for lasting protection—with premiums that never increase.
Connect With Us
Nationwide CareMatters Together®
Nationwide CareMatters Together® offers long-term care coverage that can help ease concerns about needing extra help in the future, even in your own home.
BENEFIT POLICY GUARANTEES
• A premium that never changes
• LTC benefits that will never go down
• A death benefit if you do not use your LTC benefit
• Cost-effective coverage for two people, with a flexible shared pool of benefits
• Cash indemnity
• Clients may elect to receive up to 100% of their available monthly cash benefit
• There's no need to submit monthly bills or receipts once the claim has been approved
• 100% of the benefits can be used to pay for informal care
• Nationwide places no restrictions on how the benefit is used
• Informal caregivers are permitted, including family members
• Upon completion of the elimination period, benefits for the first 90 days will be paid retroactively
• A guaranteed death benefit even if all LTC benefits have been paid
• Potential tax advantages because of separately identifiable LTC and life insurance premiums
Nationwide CareMatters Together® is long-term care coverage for 1 or 2 people that is linked to a fixed-premium universal life insurance policy and includes a death benefit. It provides flexibility to you when it comes to covering potential long-term care costs. CareMatters Together is designed with choice, control and flexibility to meet your unique needs.
This product differs from other long-term care policies in these ways:
• CareMatters Together allows you to pay an informal caregiver, such as a family member, friend or neighbor. Other policies may limit or even not allow unlicensed caregivers.
• With CareMatters Together, Nationwide® pays 100% of the monthly cash benefit. Plus, you can pay for your care as you see fit. Any money left over can be spent on other expenses or even saved for future use. With reimbursement policies, only qualifying expenses are reimbursed; nothing extra is paid.
• CareMatters Together does not require you to submit monthly bills and receipts, once qualified. Other policies require that you submit bills and receipts monthly; then you have to wait and see what the policy covers.
• With CareMatters Together, even if you use every dollar of the money earmarked for long-term health care costs, your beneficiary will still receive a 10% minimum death benefit — guaranteed.
NATIONWIDE CAREMATTERS TOGETHER® IS THE FIRST CASH INDEMNITY, LINKED-BENEFIT LONG-TERM CARE (LTC) SOLUTION FOR UP TO TWO LIVES.
More Simplicity
The shared pool of funds helps to eliminate the guesswork of who is more likely to need care. Once the initial claim for benefits is approved, clients don't need to submit monthly bills and receipts in order to receive benefits.
More Predictability
Clients will know what their premium and benefits will be because both are guaranteed. If premium payments are stopped, the portion of the LTC benefit already paid for is locked in. The minimum monthly LTC benefit must continue to be at least $250.
More Control
Nationwide® places no restrictions on how the LTC cash-indemnity benefit is spent. It can be used for more traditional care services or for informal care from friends or family members.
FREQUENTLY ASKED QUESTIONS:
What is the difference between cash indemnity and reimbursement plans?
Reimbursement policies reimburse only for the actual cost of qualifying care expenses. In order to determine the amount of the reimbursement, all bills and receipts need to be turned in each month. By contrast, Nationwide CareMatters is a cash indemnity policy, meaning there’s no need to go through a monthly process of submitting bills and receipts. Instead, once the claim is approved and the 90-day elimination period has been satisfied, the full available monthly LTC benefit can be accessed.
Are there any limits as to how I can spend my monthly LTC benefit?
No. Once you qualify for benefits, payments (up to the maximum amount you qualify for) are sent to the policyowner each month. Nationwide places no restrictions on how LTC benefit payments are used.
Do I have to take the maximum LTC benefit amount?
No. You may take less than the maximum monthly LTC benefit amount that you qualify for in your policy. Taking less money can help extend the length of time your benefit is available. However, if inflation protection is elected, the maximum monthly LTC benefit amount must be requested in order to receive the inflation protection benefit. Please be aware that a minimum allowable amount also applies to what you may request each month.
Will there still be a death benefit if I start using LTC benefits?
Yes. Upon the death of the second insured, your beneficiaries will receive either the policy death benefit reduced by the LTC benefits paid or the minimum death benefit, whichever is greater. The death benefit will be reduced by LTC benefits paid, outstanding loans, unpaid monthly deductions and partial surrenders.
How does inflation protection affect my policy?
Inflation protection, if elected, will provide an additional amount to your maximum monthly LTC benefit. The additional benefit provided by electing inflation protection helps offset rising LTC costs. Benefits provided by inflation protection are in addition to the total LTC benefits and maximum monthly LTC benefit available. The benefit amount requested each month will be paid first from the LTC Rider or the Long-Term Care Extension of Benefits (LTCEB) Rider up to the maximum monthly LTC benefit and then from the Inflation Protection Rider up to the maximum monthly inflation benefit. Inflation benefits not taken in a given month will not be available in future months.
Can the policy lapse while I am collecting LTC benefits?
While LTC benefits are being paid, your policy will not lapse, and premiums will be waived. If there is policy indebtedness, as soon as you are no longer receiving LTC benefits, you may have to make sufficient loan repayment to prevent your policy from lapsing.
Can I use my CareMatters TogetherSM benefits for more than one LTC claim?
Yes. If you receive benefits for an LTC claim and then recover, you may use any remaining available LTC benefits for future LTC claims. Future claims do not have to be related to the original claim. Each claim must meet the eligibility requirements of the LTC Rider or LTCEB Rider. Each insured has to meet their 90-calendar-day elimination period only once in a lifetime. You may use your LTC benefits multiple times until they are exhausted.
What happens if both of us are eligible for benefits at the same time?
LTC benefits can be paid for both insureds. Two payments of the maximum monthly benefit per insured can be paid simultaneously. How would inflation protection work once I recover and am no longer on claim? Upon recovering from a claim, your remaining available LTC benefits will continue to increase annually by the inflation factor you elected when you purchased your policy and will be for any future claims that may arise.
Do I have to keep paying premiums when someone goes on LTC claim?
The policy includes a Waiver of Premium, so when one or both of the insureds goes on claim, the premiums will be waived. If the insured(s) come off claim, then premiums will need to resume, or the policy will become a reduced paid-up policy.
How much of my LTC benefit will be tax free?
The amount of tax-free LTC benefits you can receive across all policies in a given year is the greater of:• The HIPAA per diem amount for that year, or • The actual qualified long-term care expenses incurred
Do I have access to my cash value?
Yes. Loans and partial surrenders are allowed on this policy. However, loans and partial surrenders will decrease the death and LTC benefits and can potentially cause the policy to lapse. No loans or partial surrenders are permitted while LTC benefits are being paid. The policy may also be surrendered at any time for its net surrender value (reduced by any LTC benefits paid and by any amounts owed on the policy), which can be seen in the tabular detail of the sales proposal.
What if we use only some of our LTC benefits?
Upon the death of the second insured, your beneficiaries will receive either the remaining policy death benefit not used for LTC benefits or the minimum death benefit, whichever is greater.
When is the death benefit paid?
The death benefit is payable to the beneficiaries upon the death of the second insured.
BENEFIT POLICY GUARANTEES
• A premium that never changes
• LTC benefits that will never go down
• A death benefit if you do not use your LTC benefit
• Cost-effective coverage for two people, with a flexible shared pool of benefits
• Cash indemnity
• Clients may elect to receive up to 100% of their available monthly cash benefit
• There's no need to submit monthly bills or receipts once the claim has been approved
• 100% of the benefits can be used to pay for informal care
• Nationwide places no restrictions on how the benefit is used
• Informal caregivers are permitted, including family members
• Upon completion of the elimination period, benefits for the first 90 days will be paid retroactively
• A guaranteed death benefit even if all LTC benefits have been paid
• Potential tax advantages because of separately identifiable LTC and life insurance premiums
Nationwide CareMatters Together® is long-term care coverage for 1 or 2 people that is linked to a fixed-premium universal life insurance policy and includes a death benefit. It provides flexibility to you when it comes to covering potential long-term care costs. CareMatters Together is designed with choice, control and flexibility to meet your unique needs.
This product differs from other long-term care policies in these ways:
• CareMatters Together allows you to pay an informal caregiver, such as a family member, friend or neighbor. Other policies may limit or even not allow unlicensed caregivers.
• With CareMatters Together, Nationwide® pays 100% of the monthly cash benefit. Plus, you can pay for your care as you see fit. Any money left over can be spent on other expenses or even saved for future use. With reimbursement policies, only qualifying expenses are reimbursed; nothing extra is paid.
• CareMatters Together does not require you to submit monthly bills and receipts, once qualified. Other policies require that you submit bills and receipts monthly; then you have to wait and see what the policy covers.
• With CareMatters Together, even if you use every dollar of the money earmarked for long-term health care costs, your beneficiary will still receive a 10% minimum death benefit — guaranteed.
NATIONWIDE CAREMATTERS TOGETHER® IS THE FIRST CASH INDEMNITY, LINKED-BENEFIT LONG-TERM CARE (LTC) SOLUTION FOR UP TO TWO LIVES.
More Simplicity
The shared pool of funds helps to eliminate the guesswork of who is more likely to need care. Once the initial claim for benefits is approved, clients don't need to submit monthly bills and receipts in order to receive benefits.
More Predictability
Clients will know what their premium and benefits will be because both are guaranteed. If premium payments are stopped, the portion of the LTC benefit already paid for is locked in. The minimum monthly LTC benefit must continue to be at least $250.
More Control
Nationwide® places no restrictions on how the LTC cash-indemnity benefit is spent. It can be used for more traditional care services or for informal care from friends or family members.
FREQUENTLY ASKED QUESTIONS:
What is the difference between cash indemnity and reimbursement plans?
Reimbursement policies reimburse only for the actual cost of qualifying care expenses. In order to determine the amount of the reimbursement, all bills and receipts need to be turned in each month. By contrast, Nationwide CareMatters is a cash indemnity policy, meaning there’s no need to go through a monthly process of submitting bills and receipts. Instead, once the claim is approved and the 90-day elimination period has been satisfied, the full available monthly LTC benefit can be accessed.
Are there any limits as to how I can spend my monthly LTC benefit?
No. Once you qualify for benefits, payments (up to the maximum amount you qualify for) are sent to the policyowner each month. Nationwide places no restrictions on how LTC benefit payments are used.
Do I have to take the maximum LTC benefit amount?
No. You may take less than the maximum monthly LTC benefit amount that you qualify for in your policy. Taking less money can help extend the length of time your benefit is available. However, if inflation protection is elected, the maximum monthly LTC benefit amount must be requested in order to receive the inflation protection benefit. Please be aware that a minimum allowable amount also applies to what you may request each month.
Will there still be a death benefit if I start using LTC benefits?
Yes. Upon the death of the second insured, your beneficiaries will receive either the policy death benefit reduced by the LTC benefits paid or the minimum death benefit, whichever is greater. The death benefit will be reduced by LTC benefits paid, outstanding loans, unpaid monthly deductions and partial surrenders.
How does inflation protection affect my policy?
Inflation protection, if elected, will provide an additional amount to your maximum monthly LTC benefit. The additional benefit provided by electing inflation protection helps offset rising LTC costs. Benefits provided by inflation protection are in addition to the total LTC benefits and maximum monthly LTC benefit available. The benefit amount requested each month will be paid first from the LTC Rider or the Long-Term Care Extension of Benefits (LTCEB) Rider up to the maximum monthly LTC benefit and then from the Inflation Protection Rider up to the maximum monthly inflation benefit. Inflation benefits not taken in a given month will not be available in future months.
Can the policy lapse while I am collecting LTC benefits?
While LTC benefits are being paid, your policy will not lapse, and premiums will be waived. If there is policy indebtedness, as soon as you are no longer receiving LTC benefits, you may have to make sufficient loan repayment to prevent your policy from lapsing.
Can I use my CareMatters TogetherSM benefits for more than one LTC claim?
Yes. If you receive benefits for an LTC claim and then recover, you may use any remaining available LTC benefits for future LTC claims. Future claims do not have to be related to the original claim. Each claim must meet the eligibility requirements of the LTC Rider or LTCEB Rider. Each insured has to meet their 90-calendar-day elimination period only once in a lifetime. You may use your LTC benefits multiple times until they are exhausted.
What happens if both of us are eligible for benefits at the same time?
LTC benefits can be paid for both insureds. Two payments of the maximum monthly benefit per insured can be paid simultaneously. How would inflation protection work once I recover and am no longer on claim? Upon recovering from a claim, your remaining available LTC benefits will continue to increase annually by the inflation factor you elected when you purchased your policy and will be for any future claims that may arise.
Do I have to keep paying premiums when someone goes on LTC claim?
The policy includes a Waiver of Premium, so when one or both of the insureds goes on claim, the premiums will be waived. If the insured(s) come off claim, then premiums will need to resume, or the policy will become a reduced paid-up policy.
How much of my LTC benefit will be tax free?
The amount of tax-free LTC benefits you can receive across all policies in a given year is the greater of:• The HIPAA per diem amount for that year, or • The actual qualified long-term care expenses incurred
Do I have access to my cash value?
Yes. Loans and partial surrenders are allowed on this policy. However, loans and partial surrenders will decrease the death and LTC benefits and can potentially cause the policy to lapse. No loans or partial surrenders are permitted while LTC benefits are being paid. The policy may also be surrendered at any time for its net surrender value (reduced by any LTC benefits paid and by any amounts owed on the policy), which can be seen in the tabular detail of the sales proposal.
What if we use only some of our LTC benefits?
Upon the death of the second insured, your beneficiaries will receive either the remaining policy death benefit not used for LTC benefits or the minimum death benefit, whichever is greater.
When is the death benefit paid?
The death benefit is payable to the beneficiaries upon the death of the second insured.
