LIVINGCARE®
Future Care Option and
long term care protection
THE MANUFACTURERS LIFE INSURANCE COMPANY
Live all of your life… your way.
You work hard, save and invest to reach your fnancial goals. You want to retire without
fnancial worries, control your own future and never burden your loved ones. Maybe take
a dream trip. Spend more time with family and friends...
But life is unpredictable. Some of those dreams may have to When it’s time to make the change, you simply submit a
change if you develop serious health concerns. short Future Care Option application, to help us determine
your eligibility. No doctor’s report, interview or tests. Easy.
Life changes. We think your insurance
coverage should too.
If the Future Care Option is available on your disability
As a client who has already purchased disability insurance, insurance policy, you may be eligible to exchange your
you made a wise decision to protect yourself and your coverage for LivingCare long term care protection.
family from an unexpected loss of income. But as you get Key eligibility criteria:
closer to retirement, whatever your age, the need to protect
■■ You have not been disabled in the past 5 years,
your income lessens and a new need emerges: the need to
protect your assets from the costs of long term care. And the ■■ You are actively working, or retired within the last 60 days
and,
costs for long term care, whether received in your home or
in a facility, aren’t all covered by the government. The costs ■■ You have never had signs or symptoms or been
can add up ... quickly. investigated for a cognitive impairment or dementia,
As a Manulife disability insurance policy owner, you may ■■ Your Manulife disability insurance policy has been in place
have access* to the Future Care Option, a great feature for at least 5 years.
that gives you the opportunity to exchange your disability
coverage for a long term care protection plan from Manulife
called LivingCare. And it gets better.
LivingCare long term care insurance. It lets
you take control of your future. Today.
* Future Care Option is only available with certain individual disability insurance products issued by Manulife. Contact your advisor to fnd out if the Future Care Option is available on your policy.
2 LIVINGCARE LONG TERM CARE PROTECTION
Why LivingCare? It makes fnancial sense.
No one likes to think about it. But all of us might reach a assistance in your home, home modifcations, medical
point when we’re not able to take care of ourselves and equipment, or for anything else that will give you the care
need long term care such as nursing care, personal care you need in the place you want to be.
and homemaking services. LivingCare lets you do the But if you do fnd that you need care in a long term care
responsible thing: put a fnancial plan in place to deal with facility, LivingCare doubles the beneft to help cover the
this possibility. higher cost for this more formal type of care.
If you or someone you know has cared for a loved one
during a time of need, you know the toll it can take on When you need us most
quality time spent with your family, your energy level and If you need long term care, you and your loved ones
quite possibly your pocketbook. shouldn’t have to go it alone. With LivingCare you can
The costs for long term care, whether in your home or in a depend on Manulife when you need us most. When you
facility, can be high. How would you pay for the care you have to make a claim.
need; the quality of care you deserve? You can expect a prompt and fair claims assessment. You
■■ Use your savings or retirement income? can also expect courteous, empathic service delivered by
■■ Use what you have set aside as an inheritance for your our expert claims staff at Manulife. They’ll be in touch on a
loved ones? regular basis and you or your family can call them any time.
■■ Use the equity in your home? To make a claim you simply call us and we’ll arrange for a
Care Advisor to contact you. The Care Advisor, a licensed
■■ Depend on your family? professional such as a nurse or social worker, will meet with
These are options, but there is a better way. you to carefully guide you through the initial assessment of
your situation.
Preserving quality time for you and your
loved ones More than fnancial assistance
Your loved ones care about you and you know they’d do You and your family will need more than fnancial support
everything possible to make sure you’re cared for. But if you’re faced with a long term illness or injury. That’s why,
distance, work and their other family obligations can make once a year, you’ll have access to additional services from our
caring for you very diffcult … and very stressful. Care Advisor while you’re receiving benefts. Care Support
Services, an extra beneft to help you and your loved ones
A LivingCare policy helps you pay for long term care and
navigate the long term care delivery system in your local
services, which means you don’t have to rely on your family
area, include
for fnancial help or hands-on care, or both. It gives you
and those you care about the opportunity to spend quality ■■ A written recommendation of the type, frequency and
time together. duration of the long term care services you need.
■■ A list of local long term care providers and the cost of
Care where you choose their services.
For many of us, our home is our refuge. Our safe place. If ■■ Information about government and community long term
you need long term care, you shouldn’t have to leave the care programs and resources.
place that feels most comfortable. LivingCare coverage
■■ The Care Advisor will also help you or your family to
puts you in control of your choices and once you qualify for
connect with the appropriate care providers.
benefts you can use the Care Beneft to pay for personal
LIVINGCARE LONG TERM CARE PROTECTION 3
Manulife’s LivingCare is a comprehensive
long term care insurance solution
LivingCare provides a regular monthly Care Beneft if you The monthly Care Beneft is yours to use however you want,
become functionally dependent and satisfy a waiting period. whether you’re being cared for at home or in a long term
Functional dependence means that you require substantial care facility.
assistance with two of six Activities of Daily Living or With LivingCare, your monthly Care Beneft doesn’t
substantial supervision because of a cognitive impairment; depend on actual costs of care – you don’t have to report
such as Alzheimer’s disease. how you’re spending the money. You just receive your
Ask your advisor for a sample LivingCare contract, which beneft each month and choose how and when to spend
provides details on the Activities of Daily Living. the money… you can even use the beneft to pay a family
member or friend who’s helping care for you.
The six Activities of Daily Living are
■■ Bathing
■■ Eating
■■ Dressing
■■ Toileting
■■ Transferring
■■ Maintaining continence
4 LIVINGCARE LONG TERM CARE PROTECTION
Four things determine the amount
of your monthly Care Beneft:
The Amount of Insurance How it works
The Amount of Insurance for your LivingCare coverage is Susan receives care at home
determined when you exercise the Future Care Option, Susan purchased a LivingCare policy with a $250,000
based on your age and the monthly beneft of your disability Amount of Insurance and the 1% Beneft Option. She now
insurance policy. The Amount of Insurance you purchase needs care at home. Her monthly Care Beneft is: $2,500.**
becomes a “pool” of money that will be available in Susan receives care in a facility
case you ever need to claim for long term care benefts. Susan purchased a $250,000 Amount of Insurance and the
The minimum Amount of Insurance is $25,000 and the 1% Beneft Option. Because she’s now in a long term care
maximum is $1 million. facility, her monthly Care Beneft is automatically doubled
and she gets: $5,000.**
The Beneft Option percentage
When Susan receives a monthly Care Beneft, her Amount of
Each month that you receive a Care Beneft, you’ll Insurance, or “pool” of money is reduced. What remains is
receive a percentage of your initial Amount of Insurance. her Beneft Balance. When the Beneft Balance reaches $0,
That percentage is known as the Beneft Option, which her coverage ends.
you select at the time you exercise the Future Care Option.
Note that the Amount of Insurance and Beneft Option Your advisor can show you how
percentages available are subject to minimum and maximum Choosing a different Beneft Option percentage will
limits on the monthly Care Beneft. Your advisor can change the number of years your Beneft Balance will last.
provide details. Adding the optional Infation Protection Rider will increase
your monthly Care Beneft and Beneft Balance by 2%,
Beneft Options percentages compounded every year!
■■ .5%
**Susan’s policy doesn’t include the optional Infation Protection Rider.
■■ 1%
■■ 2%
Infation protection
If you add LivingCare’s optional Infation Protection Rider,
the monthly Care Beneft will be indexed by 2%,
compounded annually.
The care setting
The Care Beneft automatically doubles if you primarily reside
in a long term care facility.
LIVINGCARE LONG TERM CARE PROTECTION 5
More choices help you create a Additional peace of mind…
plan to ft your unique needs: built right in
The waiting period LivingCare includes features that give you added
The waiting period is the period of time during which you peace of mind.
are functionally dependent and during which benefts are
not payable. It’s similar to paying a deductible on auto or Coverage in Canada and the US
house insurance; the longer the waiting period, the lower Whether you’re visiting the US for a couple of weeks or
the premium. you’re one of the thousands of Canadians who opt for an
You choose from two waiting periods: extended stay in the US during the winter months, you
can leave home knowing your LivingCare coverage travels
■■ 90 days*, or
with you.
■■ 180 days.
* The LivingCare waiting period cannot be shorter than your disability insurance policy Waiver of Premium while receiving benefts
elimination period.
You don’t pay premiums while you’re receiving Care
Optional coverage Benefts, and with LivingCare, we’ll refund any premiums
paid during the waiting period.
Enhance your coverage by adding one or both of the
optional riders available on LivingCare:
Care Support Services
■■ Infation Protection Rider increases your Care Beneft
Once a year while you’re receiving Care Benefts, you
and Beneft Balance by 2%compounded annually. With
have access to our Care Advisor to help you and your
LivingCare, infation protection is working for you whether
family navigate the long term care services available in
you’re receiving benefts or not.
your community.
■■ Return of Premium on Death Rider returns a portion
of the eligible premiums paid, minus any Care Benefts
already paid, on death.
6 LIVINGCARE LONG TERM CARE PROTECTION
About your
LivingCare premiums
At Manulife we’re committed to ensuring that you receive
the best value for your premium dollars. The premiums you
pay for LivingCare are guaranteed not to change for the
frst fve years you own the coverage. After that, and on an
annual basis only, we may increase or decrease premiums,
we will not make premium changes after the later of: the
coverage anniversary nearest your 75th birthday or the
20th coverage anniversary.
You can be certain that we will only make changes to
premiums if we need to change the cost for all similar
LivingCare coverages – this means we cannot single you out
for a premium change because of any change to your health
or functional ability. That’s our guarantee.
Note: Your premiums may change if you make changes to your coverage. Ask your advisor for a
sample LivingCare contract, which provides details of LivingCare premiums.
LIVINGCARE LONG TERM CARE PROTECTION 7
For more information about exercising the Future Care Option and
purchasing LivingCare long term care insurance, talk to your advisor
or visit manulife.ca
LivingCare is a registered trademark of Manulife. Manulife, Manulife Insurance, the Block Design, the Four Cube Design, and Strong Reliable Trustworthy Forward-thinking are trademarks of The Manufacturers Life
Insurance Company and are used by it, and by its affliates under license.
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