Standalone products were the first long-term care insurance products in the market in 1974. These products provide long-term care benefits only. They are not combined with life insurance or an annuity.

In customizing these products for you, we create a pool of money for care expenses using the daily benefit amount (how much coverage) and the benefit period (how long it will last). For example, a $100 per day and a 10-year benefit period would create a pool of $365,000 ($100 per day X 365 days X 10 years = $365,000).

Most standalone products are tax-qualified, which means benefits paid are not taxable, and premiums may be deductible depending on how you file taxes.

Most standalone products are integrated designs, meaning they will cover your expenses in all long-term care venues: your home, adult day care center, assisted living community, nursing home and hospice.

It is this product type that offers partnership policies that provide you with additional safeguards from Medicaid resource reduction requirements. If you need care, these policies end up being the least costly insurance solution.