What is long term care?

Long term care is the medical and/or social services term for helping people who develop disabilities or chronic care needs. For example, there may come a time when you or a loved one needs help walking, getting dressed, eating, or bathing. It also includes the kind of care you would need if you had a severe cognitive impairment such as Alzheimer's disease. Long term care services may be brief with full recovery, or they can continue for years. Services may be provided in a person’s home, in a residential facility such as a nursing home or assisted living facility.

What services are covered?

A long term care insurance policy will pay benefits for services you receive at home (such as cooking, cleaning, laundry, grooming and assistance with other activities of daily living), or in an assisted living facility and in a nursing home if a situation requires more intensive attention on a daily basis.

When am I eligible to receive benefits?

Should you need your benefits under your policy, your eligibility begins when a licensed health-care practitioner submits a plan of care that certifies:
You are chronically ill—meaning you require assistance performing at least two of the six activities of daily living (ADLs include bathing, dressing, toileting, transferring, incontinence and eating) for a period expected to last at least 90 consecutive days, or you need continual supervision due to a severe cognitive impairment.

What is the “right” age to buy Long Term Care Insurance (LTCi)?

Because your premiums are based on your age and health, the younger you are the lower your premiums. Premiums typically increase 8-10% each year a person waits to buy coverage.

What does simplified underwriting mean and how does it work?

SOK employees and their spouses who are of W-2 status, working 20+ hours per week and who are aged 18-65 will have a one-time opportunity to apply for long term care insurance with simplified underwriting (fewer medical underwriting questions and no medical exam to prove good health) during the March 1, 2016 – May 1, 2016 initial enrollment period.

Please note: Employees aged 66-79 are eligible to apply with full underwriting. Employees aged 18-65 can apply after the simplified underwriting enrollment period; however, full medical underwriting is required. Eligible family members can apply and receive the multi-life and gender neutral rates, but with full underwriting. Full underwriting means the full medical history form and proof of good health.

What benefits do I receive? What does the policy cover?

When you purchase long term care insurance, you are buying a pool of dollars from which you can pay for long term care services.

When do new hires enroll?

New hires are eligible for simplified underwriting if they apply within 90 days of being benefits eligible. New hires that do not apply within their 90 day eligibility period, or any SOK employee who did not apply during the initial enrollment period, may apply at any time and receive gender-neutral rates; however, their applications will be fully underwritten.

How do I enroll?

To take advantage of this opportunity, a licensed specialist will work with you to complete the enrollment process. To contact a specialist, please call 1-877-720-2165 Monday through Friday from 9 a.m. to 6 p.m. CST.

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Did You Know?

At least 70% of people over 65 will need long term care services at some point." 1

Long term care services cost between $50,000 ‐ $100,000 per year." 2

40% of people receiving long term care are working-age adults between the ages of 18-64." 3

Women need long term care services for longer (on average 3.7 years) than do men (on average 2.2 years)."4

LTC does not apply to only the elderly. In fact, over 40% of all people who need long term care are under the age of 65. Younger people may need LTC for a variety of reasons, including accidents, multiple sclerosis, strokes, or other debilitating conditions."5

5 Reasons WhyLong Term Care Insurance
Can Help You:

  • Receive care services in the comfort of your home
  • Protect your home, savings and other family assets
  • Choose where and by whom you receive care
  • Avoid a nursing home facility
  • Peace of mind knowing you're covered.


(1) Medicare & You, National Medicare Handbook, Centers for Medicare and Medicaid Services Revised November, 2012
(2) MetLife Mature Market Institute, 2012 Market Survey of Long Term Care Costs.
(3) National Clearing House for Long Term Care Information, October 2008.
(4) US Department of Health and Human Services, 2007
(5) https://www.medamericaltc.com/groups/q-a.jsp