If you’re planning for retirement years filled with travel and adventure overseas, don’t forget to think about your long term care needs in the future.
While some may retire overseas to be closer to family, others may be further away from family or friends who could provide care in an emergency.
Luckily, certain long term care policies offer coverage outside the United States in the event you’re living or traveling overseas when a long term care event strikes.
It’s important to consider what type of international coverage you may have access to before you move overseas to retire. The following are a few of the top long term care insurance carriers and the international coverage they offer with their current products, listed alphabetically.
International Coverages for Top LTC Insurance Carriers
Genworth Financial – PC Flex 3 Enhanced
Genworth’s PC Flex 3 Enhanced reimburses you 50% of your daily or monthly maximum. In addition, the benefit includes covered care received in a home and covers up to 25% of your daily or monthly maximum each month for a maximum of 365 days. Genworth’s international coverage will not be paid after four years from the time the first covered expense occurred. Premiums are not waived while on claim and other policy benefits don’t apply while out of the country.
John Hancock – Performance LTC
John Hancock’s Performance LTC offers international coverage anywhere outside the United States for up to one year. All services are covered except for the Hospice Benefit, Care Advisory Services, and Additional Accident Benefit. Care services will not be paid for in any U.S. sanctioned countries or territories.
Mutual of Omaha – MutualCare Secure Solutions
Mutual of Omaha’s MutualCare Secure Solutions pays for care outside the United States, Canada, or the United Kingdom equal to twelve times your maximum monthly benefit. Coverage is paid up to 12 months for covered long term care services. Any cash benefit is not available internationally.
Transamerica – TransCare 3
Transamerica TransCare 3 does not have specific international benefits. However, you can use the cash benefit as long as your practitioner meets the definition and requirement of being licensed in the United State. Coverage is reimbursed at 1/3 of the monthly benefit amount or 10x the daily benefit amount.
Interested in traveling or retiring overseas? Don’t forget to plan ahead for your long term care needs. Do your research and choose the plan that’s best for you. Talk to a long term care specialist today about the best options for paying for your care outside the United States.
LTC Consumer is an independent, free online service to help consumers understand what long term care insurance is, how it works, and how to evaluate coverage options. Our mission is to provide an educational, no-pressure resource for learning about long term care planning, with the opportunity to speak with specialists who can help them.
*Benefits may vary based on your particular plan and state, as well as the insurance policy or contract. International coverage may vary based on the terms and conditions each insurance company offers as a result of your policy.
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