Offer clients an even stronger life insurance solution with a powerful combination of a Protective Life UL and ExtendCare.
We understand the importance of clients receiving care quickly if a chronic illness arises. That’s why we enhanced the ExtendCare rider available with our universal life products*. We have redefined the expectation of loss of Activities of Daily Living down to 90 days instead of 12 months, allowing your clients to address the financial burden a chronic illness could cause more quickly.
- For paper business: applications must be signed and received on or before November 2, 2020.
- For ticket business and direct writer: applications must be signed and received on or before November 16, 2020.
- Any application in underwriting on October 19, 2020 may choose between the old and new version of the rider but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.
- For those selecting the new version of the product, the policy effective date must be October 19, 2020 or later and an amendment to the application (signed and dated October 19, 2020 or later) will be required.
For more information about the ExtendCare rider, please contact your Protective Life representative.
Let’s deliver on our promises. Together.
The ExtendCare benefits are intended to be received on a tax-favored basis under Section 101(g) of the Internal Revenue Code. Once eligible for the benefit, policyholders will receive a monthly payment (not exceeding 5% of the base policy’s death benefit amount or the current per diem equivalent) accelerated from their policy’s death benefit. The ExtendCare rider is intended as a nonmedical supplement. While long-term care riders pay temporary and permanent claims, policyholders with the ExtendCare rider will qualify for accelerated monthly benefits after being certified by a licensed healthcare practitioner as chronically ill for a period that is expected to last 90 days. Additionally, if the benefits for a stand-alone long-term care policy are not used, the policy may end with no payment while the face amount of a life insurance policy with an accelerated death benefit rider will remain intact if the benefits are not used. Once you qualify for the benefit, payments continue every month during the benefit period regardless of whether expenses are actually incurred.