GTL Life Select
Available to those ages 18 – 85
GTL Life Select includes a graded death benefit whole life insurance policy with a Chronic Illness Accelerated Death Benefit Rider. Coverage will pay a death benefit upon your death, and a living benefit for Chronic or Terminal Illness. Check out the brochure for further coverage details.
You want autonomy as you age.
This autonomy, however, is not easily achieved. Over 15 million Americans age 65 and older are financially insecure according to the National Council on Aging. The cost of care is steep and Medicare is not designed to cover your long term care needs, while the cost of traditional LTC plans is out of reach for most.
These costs create a reliance on family members for caregiving and finances, which, in turn, reduces retirement and care savings for future generations.
That’s why GTL Life Select is designed to give you insurance coverage AND a plan.
You Need a Plan — We’re Here to Help
GTL Life Select comes with yearly access to Total Well-Being, a comprehensive assessment that scores your overall well-being in the areas of Life, Health and Money. Based on your results, we’ll give you valuable insights and suggestions to make improvements. We’ll remind you to check in on yourself every year so you can stay on track for a healthy, happy future.
Support at Times of Need
When you need support to age at home, trained care coordinators are available at special discounted rates to help you and your family:
- Find in-home care
- Coordinate meals, transport and home repair
- Access expert legal, medical and financial guidance
- Connect with community resources such as support groups and social services
We know your legacy and estate planning are important considerations when you are managing your retirement. That’s why your membership includes discounted will services, to give you peace of mind in managing the allocation of your assets.
Features & Benefits
Your GTL Life Select death benefits grade in the first two policy years, as follows:
- Lifetime graded whole life insurance benefits ranging from $10,000 – $150,000
- Premiums are fixed as long as you maintain the policy
- Simplified underwriting
- Age nearest birthday pricing and you can be sure that, as long as your premiums are paid, your coverage will never be changed or canceled
- Accelerated death benefit for chronic conditions – either monthly (1%-8% of available face amount) or lump sum (50% of available face amount) and, terminal illness (up to 75% of available face amount)
- 10% residual survivor benefit available to your loved ones
- 100% accidental death benefit in policy years 1 and 2
- Premium is waived if you become totally disabled or if you qualify for an accelerated benefit
How It Works
Now you can get coverage for home and institutional care and final expenses in one insurance policy. GTL Life Select makes this happen through insurance and enhanced care coordination services provided through HCG Secure.
A new and differentiating life insurance product with chronic illness benefits providing either monthly cash benefits (up to 8% of the available policy face value), or a lump sum payment (50% of your available policy face value)*, and terminal illness benefits (up to 75% of available face amount) with care coordination and navigation services. This allows you to age at home more easily while also providing peace of mind and financial resources should you require institutional care. The policy also includes a 10% residual benefit intended to cover any final expenses for your family.
Payments are flexible and may be used to pay for home care services, institutional care, and other supports you’ll need with time. Plus, when you pass away, your GTL Life Select benefit will be paid to your loved ones to help cover final expenses or build an estate for future generations.
[1] Binette, Joanne and Kerri Vasold. 2018 Home and Community Preferences: A National Survey of Adults Age 18-Plus. Washington, DC: AARP Research, August 2018 [2] Jones, J. M. (2021, November 20). How many Americans have a will? Gallup.com. [3] ASPE Research Brief,” Long Term Services and Supports for Older Americans – Risks and Financing”, HHS Office of the Assistant Secretary for Planning and Evaluation Office of Disability, Aging and Long-Term Care Policy Administration of Aging, U.S. Department of Health and Human Services, 2017.
*For Chronic Care accelerated payments, the Policyholder is allowed only one choice, which is irrevocable, either the lump sum or the monthly cash payout. If the Policyholder chooses the monthly cash payout, he/she will be allowed to a one-time change to the selected acceleration percentage for the duration the benefits are payable.
GTL Life Select insurance, Graded Benefit Whole Life Insurance, is issued on Policy Form Series ICC22-22GBWLP, and Rider Form Series ICC22-R22ADB-TI and ICC22-R22ADB-CHRNCILL by Guarantee Trust Life Insurance Company (GTL), Glenview, IL. This product’s availability, its features, riders and terms under which coverage may be continued in-force or discontinued vary by state. Certain exclusions and limitations apply. For cost and complete details of coverage, please contact us or your agent. GTL and their licensed agents are not connected with or endorsed by the US Government or the Federal Medicare Program.
IMPORTANT NOTICE: This is a life insurance policy that accelerates the death benefits on account of Chronic Illness or Terminal Illness and is not a health insurance policy providing long-term care insurance.
The acceleration of death benefits is intended to qualify for favorable tax treatment under the Internal Revenue Code of 1986, as amended. The acceleration of death benefits may also impact eligibility for benefits under state or federal law. We recommend that you consult with a qualified tax advisor to determine possible tax consequences before electing to accelerate benefits.
Rate Calculator
GTL Life Select Quote Tool
Use our Quote tool to price client options with GTL Life Select.
Choose your coverage amount – ranging from $10,000 – $150,000 (in $5,000 increments).
