Please note: This benefit has been temporarily suspended due to challenging vendor service response.  New options are being reviewed and will be offered in early 2021.

Long-Term Care Insurance is designed to pay for the type of care a person needs if they cannot safely care for themselves.  If assistance is needed with 2 of 6 Activities of Daily Living or supervision is required for a cognitive impairment like dementia or Alzheimer’s disease, a Long-Term Care insurance policy can provide reimbursement of the cost of care up to the limits that are selected. Care reimbursed through Long-Term Care insurance can be received through a variety of in-home, assisted living and nursing home services.

Building your Policy

Total Benefit Bank

This is the total amount of money in today’s dollars available to pay for your care. You can select any amount between $100,000 and $1,000,000 as your total benefit bank.

Monthly Benefit

The Monthly Benefit is the amount of money that you have available to pay for care on a monthly basis. You can select 1%, 2%, or 3% of your Total Benefit Bank as your Monthly Benefit. For example, if you selected a $400,000 Total Benefit Bank you could select a Monthly Benefit of $4,000 (1%), $8,000 (2%), or $12,000 (3%).

Inflation Protection

The average cost of care today is $81,030 a year* but is projected to exceed $340,000 per year in 30 years** due to inflation. There are three options for addressing inflation in your Long-Term Care Insurance policy. You can add either a 3% or 5% automatic inflation option that will increase your benefit each year without increasing your premiums.

Sample Rates

The age banded premium chart is for illustrative purposes only. Rates are based on your age and your marital status. All rates below are based on a single marital status premium table:


If you wish to enroll, you are responsible for paying all premiums for this benefit. Premiums vary based upon the coverage option you select and your age at the time of enrollment. The premiums that you pay are on an after-tax basis and you may be eligible to receive a long-term care insurance credit on your state tax return. Please consult with your tax advisor to learn more about this credit and determine if you are eligible to receive it.

For more information about the coverage options available for you and your spouse, premium costs, to request a quote, or to learn how to enroll, please review the LifeSecure dedicated website or call the dedicated Macalester College Long-Term Care toll-free telephone number at (855) 558-1726.