What makes cash indemnity different from reimbursement?

Cash indemnity pays you a set amount each month—no receipts required, no expenses to prove. You receive the benefit as cash and use it however you want. Reimbursement policies only pay back expenses you've already incurred and proven with documentation. With SecureCare III, if your monthly max is $6,000, you receive $6,000—even if your actual care costs were less. This gives you maximum flexibility and lets you fully utilize your benefit pool.

How does informal care coverage work?

SecureCare III covers care provided by family members, friends, or neighbors—even if they're providing unpaid care. If your daughter provides 40 hours per week of care, you still receive your full cash indemnity benefit. This is rare in the industry; most competitors either exclude informal care entirely or limit it to a fraction of your monthly maximum. This makes SecureCare III ideal for families who want to care for loved ones at home.

What's the 90-day elimination period, and why does it matter?

The elimination period is a waiting period after you're certified as chronically ill before most benefits begin. SecureCare III has a 90-calendar-day elimination period. At $9,000/month for nursing care, that could mean $27,000+ in out-of-pocket costs. Compare this to Lincoln MoneyGuard's 0-day elimination period. However, Home Modification and Caregiver Training benefits are available immediately upon claim approval—no waiting required.

How does international coverage work?

SecureCare III pays up to 50% of your monthly maximum benefit for care received outside the United States—for ALL covered services including informal care. If your U.S. monthly max is $6,000, you'd receive up to $3,000/month abroad. This is one of the most flexible international options in the market; many competitors restrict international coverage to facility care only or exclude it entirely.

What's the difference between Vesting ROP and LTC Boost?

Vesting Return of Premium returns 100% of your premiums if you surrender the policy after the vesting period (typically 6 years for single-pay). LTC Boost trades surrender value for 24% more LTC benefits—you'll get less back if you surrender, but significantly more if you need care. Choose Vesting if you want liquidity protection; choose LTC Boost if you're committed to using this for LTC.

Can family members provide care and receive payment?

Yes! This is SecureCare III's signature feature. Informal care from family, friends, or neighbors is fully covered. The cash indemnity benefit is paid to you (or your designated payee), and you can use it to compensate family caregivers however you choose. No requirement that caregivers be licensed or employed by an agency.

What happens if I never need long-term care?

If you pass away without needing LTC benefits, your beneficiaries receive the full death benefit—typically about 10% more than your premium (varies by age and design). Even if you use all your LTC benefits, there's a guaranteed minimum death benefit of $10,000 or 10% of face amount, whichever is less.

How does SecureCare III compare to Lincoln MoneyGuard?

Both are excellent hybrid LTC products with different strengths. SecureCare III offers cash indemnity (no receipts), full informal care coverage, and better international coverage. MoneyGuard offers 0-day elimination period, choice between reimbursement and indemnity at claim time, and the Benefit Transfer Rider for couples. Choose SecureCare if simplicity and informal care are priorities; choose MoneyGuard if immediate benefits and couples features matter more.

What inflation protection options are available?

SecureCare III offers five inflation options: none, 3% simple, 3% compound, 5% simple, and 5% compound. Compound inflation grows your benefits exponentially—a $100,000 premium with 3% compound can generate $733,000+ in benefits by age 85. Most advisors recommend 3% compound as the best balance of cost and protection. Benefits continue to grow even while on claim.

How does the underwriting process work?

SecureCare III uses streamlined underwriting with no paramed exams or labs. You can complete Part 2 of the application online (eApp) or via tele-interview. A cognitive assessment is required for ages 56+. The process is typically faster than competitors requiring full medical underwriting. Couples discount is available even if only one spouse applies.

Securian SecureCare III Review: Is It Worth It? (2025)

Key Metrics at a Glance

Issue Ages	40-75	Best rates under 65
Benefit Duration	4-8 years	Multiple options
Elimination Period	90 days	Calendar days
Benefit Type	Cash Indemnity	No receipts required
Min Face Amount	$50,000	Single or flexible pay
Residual Death Benefit	10%	Max $10,000
ROP Options	Vesting or LTC Boost	Choose at purchase
Informal Care	Fully Covered	Family caregivers paid

Three Doors Framework Applies

Three Outcomes. One Asset. You Stay in Control.

With asset-based LTC products like SecureCare III, your money works for you no matter what happens. The insurance company doesn't keep it.

Scenario	What Happens	Benefit	Who Gets It
Door 1: LIVE	You need LTC care	Tax-free cash benefits for your care (4-8 years)	You get the money
Door 2: DIE	You don't need LTC	Income tax-free death benefit to your heirs	Family gets the money
Door 3: LEAVE	You change your mind	Up to 100% Return of Premium (vested)	You get the money

The Bottom Line: Unlike traditional LTC insurance where you can pay premiums for decades and lose them if you never need care, SecureCare III guarantees your money stays with you or your family—no matter which door life opens.

How SecureCare III Works

Key features that set SecureCare III apart from other hybrid LTC products.

Cash Indemnity Benefits

Receive your benefit as a cash payment—no receipts to save, no expenses to pre-approve, no claims to track. Use the money however you want: professional care, family caregivers, home modifications, or savings for later.

Informal Care Coverage

Family members, friends, or neighbors providing unpaid care are fully covered. This is rare in the industry. Perfect for families who want to care for loved ones at home while receiving compensation.

International Coverage

Receive up to 50% of your monthly maximum benefit for care received outside the U.S.—for ALL services including informal care. One of the most robust international coverage options in the market.

0-Day Benefits Available

Home Modification ($5,000) and Caregiver Training ($1,000) benefits are available immediately upon claim approval—no elimination period required. Start preparing your home for care right away.

Flexible Premium Payment

Single-pay or multi-pay over 5, 7, 10, or 15 years. No modal factors—pay monthly, quarterly, or annually with no extra cost. Your premium is guaranteed and will never increase.

Care Management Program

Securian's dedicated Care Management team helps you initiate claims, navigate the process, coordinate care, and provides ongoing support. A single point of contact when you need it most.

Inflation Protection Options

Option	Growth	Cost	Best For
No Inflation	0%	Lowest	Older buyers (70+) or those with shorter time horizons
3% Simple	3% simple	Lower	Budget-conscious buyers wanting some growth
3% Compound	3% compound	Moderate	Balanced protection, most popular choice
5% Simple	5% simple	Higher	Those wanting faster benefit growth
5% Compound	5% compound	Highest	Younger buyers maximizing long-term growth

Return of Premium Options

Vesting Return of Premium

Returns 100% of paid premiums upon surrender after the vesting period (typically 6 years for single-pay, after final scheduled premium for multi-pay). Maximizes liquidity protection.

Best for: Those who want full premium protection and may need access to funds

Vesting Schedule:

100%

LTC Boost

Trades lower surrender value for 24% more LTC benefits. Maximizes your care protection at the expense of liquidity. The smart choice if you're committed to using this for LTC.

Best for: Those prioritizing maximum LTC leverage over liquidity

+24% more LTC benefits

Lower surrender value in exchange

The Cash Indemnity Advantage

SecureCare III's defining feature is cash indemnity benefits—you receive money, not reimbursements. This seemingly simple difference has profound implications for how you'll actually use your policy.

Cash Indemnity (SecureCare)

No receipts required — ever
No expense pre-approval
Informal care fully covered
Use funds however you want
Spend less, save the rest

6-year claim starting age 80

$1,082,850 total benefits

! Reimbursement (Competitors)

!Receipts required for every expense
!Pre-approval often required
!Informal care limited or excluded
!Limited to approved expenses only
!Unused benefits often left on table

6-year claim starting age 80

$320,497 typical payout

THE CASH INDEMNITY DIFFERENCE

$762,353 more benefits with cash indemnity in the same scenario.

Same scenario. Same premium. Cash indemnity lets you fully utilize your benefit pool instead of leaving money on the table.

Leverage: Your Money Multiplied

SecureCare III turns every dollar of premium into multiple dollars of LTC protection. With compound inflation, your leverage ratio actually increases over time—the longer you wait to need care, the more protection you have.

Day 1 benefits

Premium Repositioned

$75,000

3.5xleverage

LTC Benefit Pool$262,621

Monthly Benefit$3,648/mo

Benefit Period6 years

Death Benefit~$82,500

Day 1 benefits

Premium Repositioned

$100,000

3.5xleverage

LTC Benefit Pool$350,161

Monthly Benefit$4,864/mo

Benefit Period6 years

Death Benefit~$110,000

With 3% Compound Inflation

At age 85 with 3% compound inflation

Premium Repositioned

$100,000

7.3xleverage

LTC Benefit Pool$733,159

Monthly Benefit$9,445/mo

Benefit Period6 years

Death Benefit~$110,000

Example: 60-year-old female, non-tobacco, couples discount, 6-year benefit period. Your results may vary. Request your personalized illustration for exact figures. • January 2025

Real World Scenarios

Is SecureCare III right for YOUR situation? Here's who this works for—and when to consider alternatives.

Perfect Fit: The Informal Care Champion

Perfect Fit

Barbara (Age 62): Barbara's three adult children have agreed that when the time comes, they want to provide her care at home rather than placing her in a facility. She wants coverage that will compensate her family for their time.

How SecureCare III Helps:

SecureCare III with 6-year benefit period and 3% compound inflation. Cash indemnity pays her children directly for providing informal care—no receipts, no facility bills required. Key Benefits: • Full informal care coverage—family receives full benefit • No receipts or pre-approval required • Cash benefit distributed as Barbara sees fit • 100% of benefits even for unpaid family care

Outcome:

Barbara's family can provide loving care while receiving meaningful compensation. Her monthly cash benefit goes directly to her (or her designated payee) to distribute as she sees fit. If she needs 4 years of family care, she receives 100% of benefits vs. near-zero with most reimbursement policies.

Perfect Fit: The Paperwork-Averse Retiree

Perfect Fit

Harold (Age 58): Harold spent his career in administration and is done with paperwork. The idea of tracking expenses, saving receipts, and submitting claims for reimbursement makes him want to skip LTC coverage entirely.

How SecureCare III Helps:

SecureCare III single-pay with Vesting ROP. Once he qualifies for benefits, a check arrives monthly—period. No bills to submit, no expenses to prove, no pre-approval required. Why SecureCare Works: • Cash indemnity = simplest claims experience • Monthly benefit arrives automatically • Bank the difference if needs change • Full refund available after year 6

Outcome:

Harold gets the simplest possible claims experience. His monthly benefit arrives automatically. If his needs change or he requires less care, he can bank the difference. Full refund available after year 6 if he changes his mind.

Perfect Fit: The International Snowbird

Perfect Fit

Margaret (Age 64): Margaret spends 4-5 months annually in Costa Rica and plans to increase that in retirement. She's concerned about LTC coverage that won't travel with her.

How SecureCare III Helps:

SecureCare III offers 50% of monthly maximum for care received outside the U.S.—for ALL covered services including informal care. Most competitors limit international benefits to facility care only. International Coverage Highlights: • 50% of monthly max abroad (all services) • Informal care covered internationally • No restriction to facility-only care • Combined with lower foreign care costs = strong protection

Outcome:

Margaret can receive care in Costa Rica at 50% of her monthly benefit. If her max is $6,000/month in the U.S., she receives $3,000/month abroad. Combined with lower Costa Rican care costs, this provides strong international protection.

Compare Options: The Immediate-Need Seeker

Compare Options

Richard (Age 55): Richard wants benefits to begin the moment he qualifies—no 90-day out-of-pocket period. He's heard Lincoln MoneyGuard offers 0-day elimination.

Analysis:

SecureCare III has a 90-day elimination period for most benefits (though home modification and caregiver training are immediate). If immediate benefits are the priority, Lincoln MoneyGuard's 0-day elimination may be a better fit. Cost of 90-Day Wait: • At $9,000/month nursing home rates • That's ~$27,000+ out-of-pocket • Before benefits begin • MoneyGuard's 0-day avoids this entirely However, SecureCare's cash indemnity and informal care coverage are exceptional trade-offs.

Our Recommendation:

SecureCare III's cash indemnity benefits and informal care coverage are exceptional, but the 90-day wait means Richard would pay ~$27,000+ out-of-pocket before benefits begin. He should compare both products to see which trade-off matters more.

Where It Shines

True Cash Indemnity Benefits

The defining feature. Benefits are paid as cash with no strings attached. No receipts, no pre-approval, no claims tracking. This is the simplest, most flexible way to receive LTC benefits.

Full Informal Care Coverage

Family members, friends, and neighbors providing unpaid care are fully covered. Most competitors either exclude informal care or severely limit it. Critical for home-based care strategies.

Robust International Coverage

50% of monthly maximum for ALL services received abroad—including informal care. Most competitors limit international benefits to facility care only or exclude it entirely.

LTC Boost Option

Trade liquidity for 24% more LTC benefits. For those committed to LTC protection, this dramatically increases leverage without additional premium.

Care Management Program

Dedicated team helps with claims, care coordination, and ongoing support. A single point of contact reduces stress during difficult times. Highly rated by policyholders.

!What Gives Us Pause

90-Day Elimination Period

Benefits begin after 90 calendar days of being certified chronically ill. Compare to Lincoln MoneyGuard's 0-day elimination. At $9,000/month for nursing care, that's ~$27,000 out-of-pocket before benefits start.

Residual Death Benefit Caps at $10,000

If you exhaust your LTC benefits, your family receives only $10,000 or 10% of face amount (whichever is less). Nationwide CareMatters II offers 20% residual—significantly more.

No Benefit Transfer Rider

Unlike Lincoln MoneyGuard's BTR, there's no way for a surviving spouse to inherit unused benefits to enhance their own policy. Couples may want to compare alternatives.

Single Life Only

No joint policy option available. Couples must purchase two separate policies. OneAmerica Asset Care offers joint life options that may be more cost-effective for some couples.