Massachusetts Mutual Life Insurance Company has introduced SignatureCare 500, a long-term care insurance product that is expected to enable consumers to customize a policy to meet their changing needs while helping to protect their assets, their families and their quality of future care.
Furthermore, SignatureCare 500 offers a Shared Care Rider option that gives couples and partners more flexibility when their coverage needs differ, the company said. In addition, policyholders are eligible to receive annual dividends from Massachusetts Mutual Life Insurance Company (MassMutual) as a benefit of the company’s mutual structure.
Melissa Millan, senior vice president of product management for US Insurance Group, MassMutual, said: 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.
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.