CHICAGO, Ill., September 21 – Bankers Life and Casualty Company has introduced Bankers Tax-Qualified Long-Term Care Accelerated Death Benefit Rider, which is now available with the companys InnovativeLife SP Whole Life Insurance product.

The new rider gives access to the policys death benefits while the policyholder is receiving covered qualified long-term care services, Bankers Life said. Monthly benefits are paid directly to the policyholder, after a 90-day elimination period, the company added, and payment amounts are based on the policys death benefit at the time of qualification, and can be received for up to 25 months. Accelerated long-term care benefit amounts paid to the policyholder reduce the cash value of the policy, Bankers Life noted.

The combination of the Innovative Life SP product and the new long-term care rider provides both a legacy-giving vehicle and the added security of long-term care protection, said Scott Perry, executive vice president and chief operating officer for Bankers Life. The accelerated death benefit offered through this rider will serve as a long-term care safety net for policyholders. In other words, its there if you need it, but whatever isnt used for long-term care will pass as life insurance proceeds to the insureds beneficiaries.

The Innovative Life SP product from Bankers Life is a single-premium whole life insurance product that can be issued up to age 85, according to the company.

For more information, visit www.bankers.com.