long term care
stay in control and protect your assets
Long-term care insurance provides you with a monthly benefit for services needed if age, injury, illness, or a cognitive impairment makes it challenging for you to take care of yourself. Those services are generally not covered by health insurance or Medicare.
Trustmark’s LifeEvents insurance plan provides you with not only a long-term care benefit, but also a death benefit.
WA CARES FUND
Starting July 1, 2023 (delayed from January 1, 2022) everyone working in Washington State will pay premiums via payroll tax to fund Washington State’s Long-Term Services and Supports Trust Program (WA Cares Fund).
Visit the WA Cares Fund website to learn more about the delay and additional changes made during the 2022 legislature.
PREMIUM EXEMPTION:
You can apply for a premium exemption and opt out of the State program if you purchased long-term care insurance prior to November 1, 2021. If you are approved, you will receive an approval letter from ESD. You are required to provide us with the exemption approval letter to stop withholding premiums. If you fail to present your ESD approval letter, we will withhold non-refundable WA Cares premiums. For more information about WA Cares Fund visit WA Cares Fund website or call 833.717.2273.
Trustmark LifeEvents Insurance
ENROLLMENT
WHO CAN ENROLL?
You - if you are a regular full-time, part-time, and limited assignment employee, working at least 20 hours/week and/or your spouse.
WHEN CAN I ENROLL?
If you enroll within 31 days of being hired or promoted into an eligible position, you are guaranteed coverage in the amount up to $125,000 without medical questions asked. You can enroll later or buy coverage exceeding the amount guaranteed to you with proof of good health (evidence of insurability). You do NOT have to enroll yourself in order to enroll your spouse.
How much does it cost me?
It depends on how much coverage you purchase and your age. Visit Trustmark’s web portal or call 866.240.7626 or email for a quote personalized for you.
how much long-term care plus life insurance coverage can i purchase?
You have the option to purchase insurance coverage in increments of $25,000, up to a maximum of $300,000.
Can I make changes?
You can increase (subject to evidence of insurability), decrease, or cancel your long-term care policy at any time. Please contact Trustmark at 800.918-8877 to make changes to your existing policy or if you have questions.
BENEFIT
A long-term care plus life insurance plan provides you with two benefits: a long-term care benefit and a death benefit.
Death benefit: Lump sum payment equal to purchased insurance coverage amount (reduced to 1/3 at age 70).
Long-term care benefit: Monthly payment equal to 4% of the insurance coverage amount for a maximum duration of 25 months.
Let me give you an example:
Let’s say you purchase insurance in the amount of $100,000.
If you die, your beneficiaries will receive $100,000.
If you need long-term care, you receive $4,000 per month (4% of $100,000) for up to 25 months.
SIGN ME UP!
Follow these step-by-step instructions and visit Trustmark’s web portal for resources and to enroll.