Long Term Care

Have you thought about what you'd do if you, your spouse or someone in your family became ill and needed long-term care? How would you pay for it?
  • Last year the U.S. General Accounting Office reported that nearly 40% of people age 65 now are likely to spend some time in a nursing home. About half of them will stay less than six months, and 20% will spend five years there, according to the Projections of Total Resident Population by 5-year Age Groups (January 13, 2000)
  • 40% of people needing long term care in this country are working-age adults, ages 18-64, according to the American Academy of Actuaries (1999).
  • The average length of stay in a nursing home is 2.3 years, according to the Health Care Financing Administration (Fall Review, 1996).
  • The average annual cost for nursing home care is over $40,000, and can exceed $100,000 in some parts of the country, according to research published in the Wall Street Journal (March 31, 1999).

While often associated with aging, long term care needs can occur at any time due to a sudden injury, illness or the effects of the natural aging process.

The ProvCare Solution

Nationwide Life Insurance Company of America and Nationwide Life and Annuity Company of America are proud to offer ProvCare, an innovative series of three long term care riders that can be added to our Variable Universal Life and Universal Life Insurance policies to help pay for tomorrow's long term care costs.

ProvCare is not a stand-alone long term care contract. ProvCare riders are not available in all states. Please contact your Nationwide Financial Network Representative for more information about ProvCare.
ProvCare Long Term Care riders and insurance products are issued by Nationwide Life Insurance Company of America and Nationwide Life and Annuity Company of America , which is not licensed in New York ,and distributed by 1717 Capital Management Company, PO Box 15626, Wilmington, DE 19850, (302) 453-3800, A Registered Investment Adviser. Member FINRA (formerly NASD), SIPC. A Nationwide Financial company.

Securities and Investment Advisory services offered through Registered Representatives and Investment Adviser Representatives of 1717 Capital Management Company, A Registered Investment Adviser. Member FINRA (formerly NASD), SIPC. A Nationwide Financial company. Insurance Representatives of Nationwide Life Insurance Company of America and/or Nationwide Life and Annuity Company of America, which is not licensed in New York.

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