Retirement Conversations –
Extended Care Costs
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. Speak with your insurance producer or financial professional today to learn more about Nassau Annuities.
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
Meanwhile, a large share of Americans (66%) are worried about rising health care costs in retirement.3
PLANNING PRIORITIES
Customizing an annuity with an optional rider can offer:
Consider this:
NOTE: The annual national average is $104,025 for a semi-private room.2 For use by insurance producers with the general public.
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
• Increased income if you require extended in-home or nursing home care
• Spousal protection through a jointly owned contract, if desired
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
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.
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NASSAU ANNUITIES: Designed for Retirement
• Nassau Bonus Annuity PlusSM
• Nassau Bonus Annuity®
• Nassau Growth Annuity®
• Nassau MYAnnuity® 5X/7X
• Nassau Simple Annuity
• Nassau Personal Protection Choice®
• Nassau Income Accelerator
• Nassau Personal Income Annuity®
GROWTH INCOME
• Nassau Personal Protection Choice®
• Nassau Growth Annuity®
• Nassau Bonus Annuity®
CARE FAMILY
• Nassau Personal Protection Choice®
This material is intended for general use with the public and is not meant to provide investment, tax or financial planning advice. Please consult the applicable product and rider disclosures for a full description of features, benefits, and restrictions. Nassau Life and Annuity Company and Nassau Life Insurance Company have a financial interest in the sale of their products.
Product features, rider options and availability may vary by state. Lifetime payments and guarantees are based on the claims-paying ability of the issuing company.
Annuities are long-term insurance products particularly suitable for retirement assets. Annuities are not meant to be used to meet shortterm financial goals. Annuities held within qualified plans do not provide any additional tax benefit. Withdrawals above the free withdrawal amount specified in your contract may be subject to surrender charges, fees, and adjustments. Withdrawals are subject to ordinary income tax, and if taken prior to age 59½, a 10% IRS penalty may also apply.
Nassau fixed indexed annuities offer a Fixed Account and a variety of Indexed Accounts. The Fixed Account may earn a specified rate of interest of 0% or greater, depending on the product and state regulations. The Indexed Accounts may or may not earn Index Credits. Although Index Credits are awarded based on an outside index performance, a fixed indexed annuity is not a security. It is a type of insurance contract issued by an insurance company. The contract does not directly participate in any stock, bond or equity investment. Your principal is protected against market losses and guaranteed under the base contract. Applicable fees will be deducted from the contract value and this could potentially result in a loss of principal if the contract has had interest credits less than the fees.
Guaranteed lifetime withdrawal benefit (“income”) riders involve an annual fee that is deducted from the contract value. Income payments are considered withdrawals from the annuity and will reduce the contract value, cash surrender value and death benefit.
Non-Security Status Disclosure – The Contract is not a Security. The Contract is not registered under the Securities Act of 1933 and is being offered and sold in reliance on an exemption therein.
Nassau Bonus Annuity Plus (23FIA4, ICC23FIA4), Nassau Income Accelerator (19FIA, ICC19EIAN, 19ISN, 19GLWB2, 22GLWB, 22GLWB1.1, 23GLWB2.1, ICC22GLWB1.1, ICC23GLWB2.1, et al.), Nassau Bonus Annuity (19FIA3, ICC19FIA3, 19GLWB3, ICC19GLWB3.1), Nassau Growth Annuity (19FIA3, ICC19FIA3N, 19GLWB3, ICC19GLWB3.1, 19ECH, ICC19ECH), Nassau Personal Income Annuity (19FIA, ICC19EIAN, 19ISN, 19GLWB2, ICC19GLWB2.1, ICC19GLWB2.2), and Nassau Personal Protection Choice (19FIA, ICC19EIAN, 19RN, 19GLWB2, 19GMDBS.1, 19EWB, ICC19GLWB2.1, ICC20EWB.1, et al.) single premium deferred fixed indexed annuities, and Nassau Simple Annuity (18FADTCP and ICC18FADTCP) and Nassau MYAnnuity 5X/7X (18IFDAP and ICC18IFDAP/ICC18IFDANP) single premium deferred fixed annuities are issued by Nassau Life and Annuity Company (Hartford, CT). In California, Nassau Life and Annuity Company does business as “Nassau Life and Annuity Insurance Company.” Nassau Life and Annuity Company is not authorized to conduct business in ME and NY, but that is subject to change. In New York, Nassau MYAnnuity 5X (17IMGA) single premium deferred fixed annuities are issued by Nassau Life Insurance Company (East Greenbush, NY). Nassau Life and Annuity Company and Nassau Life Insurance Company are subsidiaries of Nassau Financial Group. The insurers are separate entities and each is responsible only for its own financial condition and contractual obligations.
