Show me the honey!: Long-term Care Riders - Addending a life insurance policy

Under a long-term care rider, an insurance company will pay a monthly income benefit if the life insured requires care at home or at a facility such as a nursing home. It is similar to a stand-alone long-term care policy.

In order for a long-term care benefit to be paid, one of the following conditions must be met:
        the life insured must be unable to perform at least two of the activities of daily living (ADLs):
                  bathing
                  dressing
                  feeding
                  toileting
                  continence
                  getting in and out of bed or a chair (transferring position)

                  or

                  the life insured must require continual supervision because of deteriorated mental abilities
                  (e.g., due to Alzheimer's disease).

Example: Janice suffered a stroke that left her unable to walk, dress or feed herself, and she has had to move into a nursing home. Fortunately, her life insurance policy includes a long-term care rider, and the insurer will cover the costs of her care, up to the limit of her policy.

The monthly long-term care benefit is usually calculated as a percentage of the death benefit (e.g. 1% per month). It will be paid for as long as the life insured needs long-term care, up to a maximum amount specified in the policy (usually 50% to 100% of the death benefit). Any benefits paid under a long-term care rider, plus accumulated interest to the date of death, will reduce the eventual death benefit.

The premium for a long-term care rider will depend on the attained age of the life insured when the rider is purchased.