MassMutual’s SignatureCare 500 Offers Customization with Confidence

“As Americans live longer and increasingly experience first-hand the hardships of caring for family members and others, many worry about how they will pay for long-term care should they need it,” said Melissa Millan, senior vice president for product management. “SignatureCare 500’s flexibility and MassMutual’s long history of financial stability and the resulting claims-paying ability will enable policyholders to address these worries with a high degree of customization and confidence.”

Consumers can choose one of two base SignatureCare 500 policies. The first is a facilities-only base policy that provides benefits for care provided in nursing homes or assisted living facilities.

The second is a comprehensive base policy that provides benefits for care provided in nursing homes or assisted living facilities, as well as care provided at home and in community-based settings.

Clients can then customize either of these base policies by adding one or more of the many available riders. Among these options is Shared Care, available to two qualifying covered individuals. It provides a shared third pool of money that each can access after exhausting his or her own individual pool of money.

In addition, policyholders are eligible to receive annual dividends from MassMutual as a benefit of the company’s mutual structure. (Dividends will likely be credited either on the policy anniversary date after the insured turns 65, or the 10th policy anniversary date, whichever is later.)

MassMutual helps ease the burden of long-term care by providing SignatureCare 500 policyholders and their families the benefit of personal care advisor services through licensed health care practitioners. These professionals, who are not employed by MassMutual, can help plan and coordinate overall care needs, and then monitor the delivery of that care. Personal care advisor services are provided at no additional cost.

“Personal care advisor services are just one of the many important ways that we can help our policyholders in times of need, whether those occur before, during, or after a claim,” said Paul P. Proko, vice president for benefits at MassMutual.