Retirement Conversations – Extended Care Costs
Issued by Nassau Life and Annuity Company or Nassau Life Insurance Company
PLANNING FOR EXTENDED CARE COSTS IN RETIREMENT Since future extended care costs can be unpredictable and very expensive, planning for them is important for your retirement. Your strategy should provide protection for your income and preserve flexibility to make the choices that are right for you.
90% of U.S. adults say it would be very difficult or impossible for them or their families to afford an annual nursing home expense of $100,000.1 NOTE: The annual national average is $104,025 for a semi-private room.2
Meanwhile, a large share of Americans (66%) are worried about rising health care costs in retirement.3 PLANNING PRIORITIES
A strategy for future extended care costs may include: • • •
Creating a guaranteed income source that can help you pay for your care Preserving choices about the type of care you want to receive Ensuring you don’t outlive your income
Customizing an annuity with an optional rider can offer:
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Consider this:
If you seek an option that can help you grow your retirement savings and also help you pay for the high cost of extended care, then find out more about a Nassau fixed indexed annuity with an optional Income and Care Protection Benefit rider.4
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Increased income if you require extended in-home or nursing home care Spousal protection through a jointly owned contract, if desired
Speak with your insurance producer or financial professional today to learn more about Nassau Annuities. Product features, rider options and availability may vary by state. Consult with your insurance producer to determine state variations and restrictions and other conditions that may apply. View the contract and rider disclosures for complete details, conditions and exclusions. 1. The Affordability of Long-Term Care and Support Services: Findings from a KFF Survey, KFF. 2023. 2. Genworth Cost of Care Survey, December 2023. 3. Retirement Insecurity 2024: “Retirement Insecurity 2024: Americans’ Views of Retirement conducted by Greenwald Research,” February 2024. 4. Optional Care Protection Benefit rider available when elected at the time of application and involves an additional annual fee. This rider can increase guaranteed income withdrawals for a maximum of 5 years only. It is not a qualified Long-Term Care benefit under the Internal Revenue Code. This benefit does NOT qualify for preferential tax treatment and does NOT provide health insurance, Long Term Care insurance or Medicaid benefits. Proof of qualification must be submitted each year to receive this benefit. Must be certified by a physician as impaired and unable to perform at least two of the six activities of daily living (ADLs) for at least 90 consecutive days, which include – eating, bathing, dressing, transferring, toileting and maintaining continence. This benefit is only available after the second contract anniversary. Additional rider conditions and exclusions apply. Not available in California or Maryland. See rider disclosures for details.
For use by insurance producers with the general public.