Trustmark Introduces New Living Benefits Previously Unavailable in the Voluntary Life and Long Term Care Market
LAKE FOREST, Ill., Feb. 17, 2006 — Trustmark Voluntary Benefit Solutions, a leading provider of payroll-deducted voluntary benefits, is launching a new Universal Life product that pays more Living Benefits for long term care to address changing needs in today’s voluntary life and long term care marketplace. Trustmark has doubled the monthly benefit for home healthcare and adult day care, and has added an assisted living benefit to its new flagship voluntary universal life product.
Trustmark’s new Universal Life with Living Benefits accelerates 4 percent of the death benefit monthly for assisted living, home healthcare, adult day care, and nursing home care, expanding an already comprehensive package of long term care benefits. “We’re witnessing growth in demand for long term care as life expectancy increases and the Baby Boom generation moves into its elder years,” said Janet Buzil, Trustmark’s Second Vice President of Marketing and Product Management. “We’re specifically responding to the need for stronger home healthcare, assisted living, and adult day care benefits. This level of Living Benefits, within a life insurance policy, was previously unavailable in the voluntary market.”
“As the only carrier that packages Living Benefits for LTC with Death Benefit Restoration and LTC Extension of Benefits, our insureds and their families can receive both the full death benefit and 50 months of long term care benefits — that’s three times the face amount of their policy,” said Joe Pray, Trustmark’s Vice President of Sales and Marketing. “With long term care built into the life policy and purchased through payroll deduction, we offer a convenient, affordable way for people to get the protection they need.”
Along with more Living Benefits, Trustmark’s new Universal Life plan provides guaranteed issue coverage, superior cash values across a wider range of interest rate environments, and improved mortality performance based on longer life spans. Trustmark’s maximum issue age has also been raised to age 80, and maximum benefits increased to $300,000.
Trustmark’s Universal Life with Living Benefits is one of three new life insurance plans from Trustmark, which also include Trustmark’s Guaranteed Universal Life and Trustmark’s Universal LifeEvents®.
All plans are available now for March 2006 enrollments. For more information on voluntary benefits for employers with 100 or more employees, contact your Trustmark Voluntary Benefit Solutions Sales Representative at (800) 840-4692.
About the Trustmark Companies
Backed by more than 90 years serving the voluntary market, Trustmark Voluntary Benefit Solutions specializes in voluntary benefits, including Life, Critical Illness, Dental and Disability. All plans are underwritten by Trustmark Insurance Company, a subsidiary of Trustmark Mutual Holding Company. Through its subsidiaries and operating divisions, Trustmark Mutual Holding Company offers a full line of health, life and benefit administration products and services to groups and individuals. Trustmark Mutual Holding Company has assets of more than $1.9 billion and is based in Lake Forest, Ill.