Aflac Launches Hybrid Life/LTC Rider with Inflation Protection and Accruing Fund
Aflac has launched a hybrid term life and long-term care rider for its Group Life Term to 120 plan, featuring optional inflation protection, an annually accruing fund and portability after employment ends. The benefit lets policyholders choose home- or facility-based care, restore life insurance face value and select lump-sum payments.
1. New LTC Rider Launch
Aflac has introduced a hybrid term life and long-term care rider to its Group Life Term to 120 product. This first-of-its-kind worksite benefit combines death benefit protection with long-term care coverage to address rising care costs for aging employees.
2. Core Features
The rider offers optional inflation protection, an annually accruing fund to help offset long-term care cost increases, full-face amount restoration after benefit use, portability upon employment termination and flexible payment options including lump sums or periodic distributions.
3. Flexibility for Policyholders
Insureds can select care in any setting—home- or facility-based—and choose informal care from family or professional caregivers. This flexibility ensures that policyholders receive benefits where and how they prefer during their lifetimes.
4. Demand and Availability
With one in six Americans projected to be over 60 by 2030 and long-term care costs climbing, Aflac aims to strengthen its group benefits portfolio. The rider is rolling out by state and is not yet available in all jurisdictions.