Future Care Option Calculator

This calculator is for illustrative purposes only.

Use this calculator to determine how much long term care coverage the client may be eligible for based on how much eligible disability monthly benefit amount they would like to exchange.

Note: Please complete all fields, unless otherwise marked optional.

The Amount of Insurance for your LivingCare coverage is determined when you exercise the Future Care Option, based on your age and the monthly benefit of your disability insurance policy. The Amount of Insurance you purchase becomes a “pool” of money that will be available in case you ever need to claim for long term care benefits. The minimum Amount of Insurance is $25,000 and the maximum is $1 million.

The Benefit Option percentage (in conjunction with the care setting) determines how long the LivingCare insurance will last. For example, a 1% Benefit Option means that 1% of your LivingCare insurance is paid each month during a claim for home care. With a 1% Benefit Option, monthly Care Benefits for home care could be paid for up to 100 months. 

The Care Benefit is the amount payable for each month of functional dependence after the selected waiting period is satisfied and depends upon the care setting. The two care settings are:

Care Benefit when the care setting is a facility – This means your client is living in a long term care facility, such as a nursing home or qualified assisted living facility. The benefit amount equals the selected Amount of Insurance times the selected Benefit Option percentage times two. For example, if the Amount of Insurance is $300,000 and the selected Benefit Option is 0.5%, the facility Care Benefit would be $3,000 per month.

Care Benefit when the care setting is not a facility – This means your client is living in a setting other than a facility, most commonly at home. The benefit amount equals the selected Amount of Insurance times the selected Benefit Option percentage. For example, if the Amount of Insurance is $300,000 and the selected Benefit Option is 0.5%, the non facility Care Benefit would be $1,500 per month.