Payroll deduction UL has LTC accelerated benefit. (universal life, long-term care)

National Underwriter Life & Health-Financial Services Edition, March, 1993 by Koco, Linda

Transamerica Assurance has added a long-term care accelerated benefits rider to its new payroll deduction universal life policies. The rider covers long-term and home health care and pays a monthly benefit equal to 2% of the base policy death benefit. It requires the insured to need assistance in performing two out of five activities of daily living, such as dressing and food preparation. The rider also requires that a physician recommends the care and the insured completes a 90-day stay in a health institution or receives 90 days of home health care from a residential health care provider. Transamerica charges no additional premium for the rider, but deducts a monthly fee from the cash accumulation value of the base policy.

Transamerica Assurance, Los Angeles, has started...

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