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Daily Coverage

Long-Term Care Insurance policies pay a daily amount towards home care, assisted living, or nursing home. Home care is the most common claim, with 75% of claims starting at home.

Plan Duration

Average claim: 2.9 years. Assuming you don’t have a crystal ball, you don’t know how long you’ll need Long Term Care for. The chance of needing Long Term Care is 1 in 2, but the chance of needing it for over five years is much smaller. Like any insurance, you may buy this and never use it, so finding a balance is key.

Return of Premium

Add this option and you’ll be able to leave your beneficiary the total sum of all of your premiums paid, less any claims you’ve made. If the thought of buying this and never using it bothers you, guarantee a return of funds with Return of Premium.

Home Health Care on Day 1

Coverage for care at home is available with no waiting period. This 10-15% extra option is the most popular add-on rider.

Shared Coverage

Women make longer claims than men, on average. Hedge your risk with your spouse by adding a Shared Care rider to your policy.

Inflation Protection

If you're buying this thinking of using in the future, include inflation protection.

Nationwide Destination Freedom Annuity

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The Nationwide Destination Freedom annuity is a low-cost investment focused variable annuity (IFVA) that comes with various benefits. These include quality investment choices, tax deferral and enhanced protection. Destination freedom is an accumulation based product aimed at annuitants up to the age of 85 years looking for future benefits of diversification.

Nationwide Destination Freedom Facts

Mortality, maintenance, and administrative charges

The annuitant will be charged a 0.85% mortality charge and a 0.15% administrative charge. The administrative charge is waived for contact values of $1,000,000 and above. A $50 amount will be charged annually as maintenance charge but will be waived once the contract value reaches $50,000.

Issue age

The issue age is 0-85 years for annuitants. Owners may be of any age.

Minimum initial investment

  • Minimum qualified payment- $10,000
  • Minimum non-qualified payment- $10,000

Rider availability

There are four riders available with the annuity. The one year enhanced death benefit costs 0.3% while the return of premium enhanced death benefit that will cost the annuitant 0.2% of the contract value. There is also a spousal protection death benefit rider and an Enhance surrender value for terminal illness rider.

Surrender charges

Also known as CDSC charge, this will be a declining charge for each subsequent year for withdrawals exceeding the free withdrawal amount. The charge is a percentage charged on withdrawals above the free value amount. This starts at 7% for the first year then 7%, 6%, 5%, and eventually 3%, The exact amount charged will be the percentage multiplied by the amount above the free withdrawal figure.

Free withdrawals

Annuitants can withdraw up to 10% of their contract value each year on a non-accumulative basis.

Death benefit

The death benefit will be the return of contract value with no additional costs. However, the annuitant can purchase the spousal protection death benefit rider.


The annuity provides waivers for withdrawals made in case an annuitant encounters a long-term care or is diagnosed with a terminal condition from which they are not expected to recover. For the waivers to apply, the annuitant has to have the enhanced death benefit rider.

Potential benefits

  • Low cost
  • Tax deferral presents growth opportunities
  • Access to over 130 high quality investments
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