Whole-Life with Long-Term Care Insurance
Whole Life With Long-Term Care Insurance provides a smart way for you to plan for your financial future. Coverage includes a guaranteed cash value that grows over time. The policy pays a cash benefit to your beneficiaries in the event of your death, but also includes flexibility to help you with unexpected costs as you age.
If you need long-term care later in life, or become chronically ill, you can instead use your policy to pay for your care. Unlike the term life insurance you receive from Montefiore Einstein, you own your Whole Life with Long-Term Care policy. This means that as long as you continue to pay your premiums, your policy stays in effect, even if you change jobs or retire.
You can enroll in coverage of up to $300,000 without submitting evidence of insurability, or proof of good health. You also can purchase coverage for your spouse.
It pays to plan ahead. The younger you are when you enroll, the lower your rate and the more cash value you can build over time. Enrolling sooner rather than later can potentially save you from paying more in premiums over the life of the benefit certificate.
To enroll, visit Montefiore.WholeLifeLTC.com.
Please note that enrollment in this plan is only available as a new hire, during Annual Open Enrollment, or if you experience a qualifying life event.
If you enroll in Whole Life Insurance, you own this plan independent of your employment status with Montefiore. You will manage your coverage directly through Covala, the administrative services provider for MetLife, not the HealthyME Benefits Center. Premiums for this insurance are billed directly from the vendor, and you will send your payments or set up ACH deductions directly with them. Premiums are not paid through payroll deductions.
Please be sure to retain any documents about your plan certificate for your records as you will be responsible for maintaining coverage for this benefit. All questions and support for the Whole Life plan can be directed to Covala at 1-877-513-1450.
Log in for Personal Information and to Take Action
Log in to the private and secure part of the website to review the specifics of the coverage you are enrolled in, find plan documents and change your benefits when you experience a qualifying life event. Ask Sofia, your personal benefits assistant, if you need help finding information or understanding your benefits.