10.14.25

Nationwide Adds Annuity to Mini Long-Term Care Product Boom

by: Allison Bell

Nationwide has launched its first annuity product with long-term care (LTC) benefits, joining a wave of insurers developing new LTC planning tools. Unlike traditional stand-alone LTC insurance, the new annuity may be available to clients with existing health issues, allowing them to use the funds for care. Nationwide has previously offered life insurance with LTC benefits but is now entering the annuity-LTC space. This move comes amid renewed interest in LTC solutions, with Genworth’s CareScout launching a stand-alone LTC policy and startups like Waterlily developing planning software. Insurers are seeking ways to address rising post-retirement care costs beyond traditional models.

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