FAQs

General Program Details

What coverage does this policy provide?

This coverage combines the benefits of both Life Insurance protection along with Long Term Care benefits. Long Term Care is personal care help with everyday activities such as bathing and dressing (also known as "Activities of Daily Living”) and/or care for severe cognitive impairments like Alzheimer’s Disease. This policy can be utilized to help pay for services and care for you such as home health care, adult day care, assisted living facilities, and nursing home expenses.

Who is eligible?

You are eligible to apply if you are: aged 19 through age 70 and actively employed as a counsel, associate, legal professional & paralegal, or staff employee on the firm’s US payroll — or are an active, US partner.

Legal professionals & paralegals and staff must be employed on a regular, full-time, or part-time basis and regularly scheduled to work at least 20 hours per week.

Counsel and associates must be employed on a regular, full-time, or part-time basis at a 50% or greater pace.

Spouses and domestic partners, aged 19 through age 70 of enrolled Latham colleagues who purchase coverage, are eligible.

Who administers the program and insures the benefit?

Coverage is administered and provided by Combined Insurance Company of America, a Chubb company. The AGIS Network manages enrollment and answers questions on behalf of Chubb as the plan third party administrator.

Why is it so important for me to apply during this initial enrollment or when I am initially eligible?

During the initial enrollment or when you are initially eligible, there is no medical underwriting for eligible lawyers and staff. Regardless of what your current health status is, you will be approved. Individual policies that offer long term care benefits without underwriting are very difficult to purchase. Enrolling in this plan provides financial security, greater care options, peace of mind, and possible protection against additional state taxes in the future.

How much life insurance can I purchase and how is my monthly Long Term Care benefit calculated?

Eligible primary insureds through age 70 can purchase a minimum Life Insurance policy of $25,000, with $50,000 in LTC benefits and up to a maximum of $200,000 in Life Insurance with $400,000 in LTC benefits.

The monthly Long Term Care benefit is 4% of the death benefit and can be used for home care and/or facility care for up to 50 months. For example, a $50,000 life insurance policy provides a $2,000 monthly Long Term Care benefit, up to $100,000 in total Long Term Care benefits.

Enrollment Details

How do I enroll?

To enroll, contact an AGIS Network Specialist who facilitates enrollment for Chubb. You may visit www.LWLifeLTC.com, dial (877) 485-2318, or email [email protected]. Assistance is available Monday through Thursday from 10:00 a.m. to 7:00 p.m. ET and Friday from 10:00 a.m. to 5:00 p.m. ET.

Why does the application require my SSN, height, and weight?

Chubb requires Social Security Number to set up your coverage for tax purposes and claims. Height and weight are needed only when applicants are required to answer the simplified issue health questions. Refer to question below for further details.

Is my application subject to medical underwriting?

Eligible lawyers and staff aged 19 through age 70 who enroll in the program during this initial enrollment period through September 26, 2024, or when they are initially eligible, will not be required to provide evidence of good health. Coverage will be provided on a guaranteed-issue basis. Each year, eligible participants enrolled in the program at annual enrollment can secure the next level of Life Insurance available, including 2X in LTC benefits on a guaranteed-issue basis. The maximum benefit will not exceed a total of $200,000 in Life Insurance coverage, which includes $400,000 of LTC benefits.

What health questions do I need to answer during this initial enrollment or when I am initially eligible?

All eligible lawyers and staff will be asked to certify that they are actively at work performing the regular duties of the job in the usual manner and at the usual place of employment. If you are not actively at work, you are ineligible to enroll but may apply for coverage upon your return to work with a 30-day window to apply without medical questions.

Eligible lawyers and staff aged 19 through age 70 who enroll in the program during this initial enrollment period or when they are initially eligible, will not be required to provide evidence of good health. Coverage will be provided on a guaranteed-issue basis.

Important note: If you do not apply for at least the minimum amount offered ($25,000 in Life Insurance including $50,000 in Long Term Care benefits) during the initial enrollment or when you are initially eligible, simplified medical questions noted below will be required should you apply in the future.

Can I add my spouse/domestic partner to this offering?

If you enroll in the program, your spouse/domestic partner is eligible to apply for coverage. If you do not apply for coverage, your spouse/domestic partner is ineligible. A spouse/domestic partner aged:

19 through 60, can apply for $25,000 in Life Insurance which includes $50,000 in Long Term Care, with only one qualifying question, called Modified Guarantee Issue.

19 through 70, can apply for 100% of your coverage amount up to $100,000 in Life Insurance which includes $200,000 in Long Term Care, with four qualifying questions, called Conditional Guarantee Issue. If a spouse/domestic partner answers “Yes’ to a Conditional Guarantee Issue question, additional questions are required, referred to as Simplified Issue.

If your spouse/domestic partner also works at Latham and is eligible to participate in the program, they should apply for coverage as a primary insured (not as a spouse/domestic partner) to qualify for guaranteed-issue underwriting (no health questions).

What health questions does my spouse/domestic partner need to answer for underwriting?

Eligible spouses/domestic partners aged 19 through 60 can apply for $25,000 of Life Insurance including $50,000 of LTC benefits, not to exceed 100% of the primary insured amount; subject to modified guaranteed-issue and must respond to the following medical question as part of the application process: is your spouse/domestic partner currently hospitalized, receiving home health care or receiving / applying to receive disability benefits?

Eligible spouses/domestic partners aged 19 through 70 can apply for $100,000 of Life Insurance including $200,000 of LTC benefits, not to exceed 100% of the primary insured amount; subject to conditional guaranteed-issue and must respond to the following medical questions as part of the application process. Is/has your spouse/domestic partner:

currently hospitalized, receiving home health care or receiving / applying to receive disability benefits?

been treated in a medical facility, hospitalized, or disabled in the past 6 months, excluding flu or cold? Hospitalized means in-patient or outpatient, whether or not confined. Treated in a medical facility does NOT include a regular physician’s office visit.

within the last 10 years, been tested positive for exposure to the Human Immunodeficiency Virus (HIV) infection, been diagnosed by a physician as having Acquired Immune Deficiency Syndrome (AIDS) or AIDS Related Complex (ARC) caused by the HIV or other sickness, or condition derived from such infection?

Note: Applicants who answer “Yes” to the above HIV/AIDS question are ineligible for coverage.

been seen or treated by a licensed physician or other medical practitioner within the past 6 months, excluding flu, cold or routine physical?

Spouses/domestic partners who answer “Yes” to any Conditional Guarantee Issue questions (excluding the HIV/AIDS question) are required to answer the Simplified Issue health questions:

Height & Weight

Within the past 5 years, has any spouse/domestic partner been admitted or advised to be admitted to a hospital or received medical advice or treatment by a licensed member of the medical profession for:

Any chest pain, heart disease, stroke or paralysis, lung or respiratory disease, blood disease or high blood pressure? If yes, provide most recent blood pressure reading and date?

Any cancer, tumor, disorder of the kidney, liver disease or hepatitis?

Any mental or psychiatric disorder, stomach or intestinal disorder or reproductive organ disorder?

Received or been advised to have, by a licensed member of the medical profession, counseling, or treatment for the use of alcohol, drugs, illegal drugs, or used any illegal drug or controlled substance?

Taken any prescription medication in the past 6 months (If “Yes”, state name of medication, reason for taking frequency and dosage)?

Had or been advised to have, by a licensed member of the medical profession, an electrocardiogram, x-ray, blood study, urinalysis, or any other diagnostic study, operation, or treatment?

Other than stated above, within the past 5 years, had any other illness, operation, or treatment?

When will my coverage be effective?

For applications received by September 26, 2024, coverage will be effective on December 1, 2024. For applications received after the initial enrollment period which ends on September 26, 2024, coverage will be effective the first of the month following 60 days of receipt of the application.

Coverage Changes

What if I enroll in the plan and I change my mind?

You may, within 30 days after the certificate is delivered, return the certificate to Chubb’s Administrative Office to the mailing address found in your policy certificate to receive a full refund of any premiums that have been paid. Once returned, the certificate will be void from its beginning.

Can coverage be increased after the initial enrollment?

Through age 70, eligible lawyers and staff who elect coverage during the initial enrollment or when initially eligible, can secure the next level of Life Insurance available, including 2X LTC benefits annually with no health questions if still actively at work for Latham & Watkins at the time of the application. Cumulative amounts are up to $200,000 in Life Insurance and subject to guarantee issue maximum ages and limits. You will be issued an additional Life Insurance with Long Term Care Policy based on your current (attained) age. This does not apply to spouses and domestic partners.

For applicants (lawyers and staff and spouses/domestic partners) who do not initially enroll at the introduction of this program or when newly eligible, you can apply for coverage later with Simplified Issue underwriting. The only time lawyers and staff may apply without any medical questions is when you are first eligible to purchase this plan (i.e., at its introduction or as a new joiner, whichever is earlier).

Can I reduce my coverage and if so, what happens to premiums I already paid?

Reductions in coverage are allowed at any time. A new certificate of coverage is issued based on your age at the time of the initial application. Any paid premium for the coverage amount initially applied for is not refundable for a reduction in coverage.

If my spouse / domestic partner applies for coverage and we later divorce/terminate our domestic partnership, can their coverage be continued? Yes, once the policy has become effective and the certificate of coverage has been issued, if you divorce or terminate your relationship, your spouse/domestic partner can continue their coverage. Billing for the spouse/domestic partner policy can be separated and billed directly to each individual.

Premiums

How is my rate determined?

Premiums are determined by unisex rates based on your age (as of the policy effective date), nicotine usage, and coverage level selected. The total premium accounts for the Life Insurance (approximately 85%) and Long Term Care Benefit (approximately 15%) coverage elected.

How will I pay my monthly premiums?

Initially, you are responsible for remitting monthly premium payment directly to Chubb via check or ACH from a personal US checking or savings account. After enrolling, you may change your billing frequency and method by contacting Chubb.

Are premiums pre-tax or post-tax?

Premiums are considered after-tax.

Are the premiums tax deductible?

No, the premiums are not tax deductible.

Are premiums eligible for reimbursement under a Health Savings Account (HSA)?

No. Since the policy is considered life insurance, premiums are not eligible for reimbursement under an HSA.

Am I responsible to remit premium payment if I am receiving LTC benefits?

The plan has a Waiver of Premium provision, which means that while you are receiving LTC benefits, all premiums are waived.

Can my rates increase?

Life insurance rates are guaranteed to age 100 and cannot increase. LTC rates are subject to change – these rates make up approximately 15% of the total premium you pay.

If I change my nicotine status, do I report it – will I pay less or more depending on the status?

If an insured’s tobacco status changes, they can apply for a new policy with non-tobacco rates.

What happens if premiums are not paid?

After the first premium has been paid, there is a 31 day grace period to pay each subsequent premium. During this grace period, coverage remains in full force. If the insured dies during the grace period, Chubb will deduct the unpaid premium from the benefits of this coverage.

What are the Non-Payment of Premium Options?

If the premium is not paid by the end of the grace period, coverage will lapse. If coverage lapses and premiums have not been paid through the vesting period, coverage will terminate without value. If coverage lapses and premiums have been paid through the vesting period, it will lapse with paid-up term insurance coverage equal to the sum of the Guaranteed and Deferred Paid-Up Term insurance as described in the Death Benefit provision.

Is there protection against unintended lapse?

To prevent an unintentional lapse in coverage, it is recommended that the policyholder name a secondary addressee to be notified of a possible lapse in coverage. This can be done during the initial enrollment on the application or can be added at a later date. This person is designated by the policyholder by providing the name and address of the person to be contacted. The secondary addresses may not be notified until 30 days after a premium is due and unpaid. Notice shall be deemed to have been given as of 5 days after the date of mailing.

Benefit Details

Is the death benefit guaranteed to remain the same?

The Benefit is 100% guaranteed for the longer of 25 years or through age 99, whichever is greater. After age 99 or 25 years (whichever is greater), the benefit is guaranteed to be at least 50% of the initial benefit. Your death benefit is then guaranteed up to the age of 121.

When I start receiving LTC benefits, does the death benefit decrease as each monthly LTC benefit is paid out?

Yes, the death benefit is reduced to pay each monthly LTC benefit. For example, a $50,000 Life Insurance policy provides a $2,000 monthly LTC benefit, so after the first monthly LTC benefit is paid, the net death benefit would reduce to $48,000. This depletion of the death benefit continues as LTC benefits are paid. Once the death benefit is reduced to 50% of its original value, not to exceed $50,000, the death benefit no longer decreases. See next question.

Does the policy “replenish” or restore my death benefit as LTC benefits are paid?

Yes, all coverage includes Restoration of Death Benefits. Once the death benefit falls below 50% of its original value, it is restored to 50% of its original value up to a maximum of $50,000.

For Example: a $100,000 Life Insurance policy provides a $4,000 monthly LTC benefit ($100,000 x 4%). If the insured received $24,000 or 6 months of LTC benefits ($4,000 per month x 6 months = $24,000), the net death benefit would be $76,000. If the insured then died, $76,000 in life insurance proceeds would be paid to the designated beneficiary. Alternatively, if the insured had received $52,000 or 13 months of LTC benefits ($4,000 per month x 13 months = $52,000), the death benefit would be restored to 50% of its value or $50,000. If the insured were to die, the policy would pay $50,000 in Life Insurance benefits.

How do I become eligible for payment of LTC benefits?

The elimination period must be satisfied before benefits are paid. Each day the insured is chronically ill, and charges are incurred for the care and service of the insured, one day of the elimination period will be satisfied.

Chronically ill means the insured is certified by a Licensed Health Care Practitioner as:

Being unable to perform, without substantial assistance from another individual, at least 2 Activities of Daily Living (ADLs) for at least 90 days due to a loss of functional capacity or

requiring substantial supervision for protection from threats to health and safety due to Severe Cognitive Impairment.

Activities of Daily Living (ADLs) include:

Bathing, Dressing, Continence, Eating, Toileting and Transferring.

What is the Elimination Period Under the LTC Benefit?

An Elimination Period of 90 days is the number of days at the beginning of a Period of Care for which benefits are not payable under this policy. In order for a day to count as a day in the Elimination Period, the following requirements must be met:

The Insured must be Chronically Ill and

Charges must be incurred for the care and services of the Insured.

Home Care requires a minimum of 8 professional service days to count the calendar month.

The elimination period needs to be satisfied only once during the Insured’s lifetime.

Can the plan provide LTC benefits for care provided by unlicensed/informal caregivers such as family or friends?

No. Care must be provided by licensed professional providers.

Where does the plan pay for Long Term Care?

If you qualify for LTC benefits, you may receive care in a residence / facility of your choice (e.g., Home Care, Assisted Living/Memory Care, Adult Day Care or Skilled Nursing Homes).

What are the Policy Exclusions and Limitations?

If the insured person dies by suicide with or without a clinical diagnosis within two years from the coverage effective date and while coverage is in force, Chubb will issue a lump sum payment to the designated beneficiary equaling the total amount of premiums paid for the coverage as of the date of death.

Long Term Care Exclusions

Chubb will not pay LTC benefits for care that is received, or loss incurred as a result of:

An intentionally self-inflicted injury, or suicide attempt.

War or any act of war, declared on undeclared, or services in the armed forces of any country.

Treatment of the insured’s alcohol, drug, or other chemical dependence, except if the drug dependency was sustained or acquired at the hands of a Physician, or except while under treatment for an injury or sickness.

The insured’s commission of or attempt to commit a felony; or an injury that occurs because of the Insured’s involvement in an illegal activity.

For care outside the United States and its territories.

Care provided by ineligible providers.

Care rendered by members of the certificate holder’s or the insured’s immediate family.

See policy document for additional exclusions and limitations.

Can I take my coverage with me if I am no longer eligible, or I leave work or retire and, if so, do the rates change?

This is permanent Life Insurance with Long Term Care benefits designed to last a lifetime. Should you no longer be eligible or if you leave Latham or retire, you can keep your coverage at the same benefit levels for as long as you remit timely premium payment. Life insurance rates are guaranteed to age 100 and cannot increase. LTC rider premiums are not guaranteed and may be increased in accordance with the terms of the policy. You are not required to notify Chubb of your change in employment or status at Latham.

After 10 years of premium payments, what is the partial payout for LTC available if I no longer make payments?

This will vary based on the amount of insurance purchased and how long payments have been made. Insureds will need to contact Chubb directly to receive personal benefit details.

When does coverage end?

Coverage on an Insured will terminate at the earlier of:

If any premium payable by the insured is not paid within the grace period. The Coverage will terminate the day after the 31 day grace period.

On the date Chubb receives written request to terminate the Coverage.

On the date the Insured dies.

When the Insured reaches age 121.

Can coverage be reinstated?

Yes. If the insured pays the premium due within 60 days of the due date (within 29 days after the end of the grace period) and during the insured’s lifetime, the coverage will be reinstated without Evidence of Insurability.

If the insured does not pay the premium due within 60 days of the due date (within 29 days after the end of the grace period) reinstatement will be subject to Evidence of Insurability satisfactory to Chubb. All overdue premiums must be paid with interest compounded annually at 6% from their due dates to the date of reinstatement.

Claim Process

How do I initiate a claim for Long Term Care?

To initiate a claim, contact the Chubb Policyholder Center by calling 1-855-241-9891 or via email at [email protected]. You may also file via paper by requesting forms be mailed to you. Paper claim forms should be mailed to: Chubb, Claim Admin Office, One Integrity Parkway, Cleveland, OH, 44143-1500. Claims require basic information like name, address, telephone number and policy number. If additional information is needed, it will be requested by Chubb in writing or by telephone.

Are there any forms required?

Chubb will provide required claim forms upon notice of a claim to you or your authorized representative.

Do I have to take a physical or be assessed?

At Chubb’s expense, they reserve the right to have a Licensed Health Care Practitioner of their choosing examine the insured while a claim is pending to determine the insured’s eligibility for benefits. In the event that the Licensed Health Care Practitioner they choose provides a different diagnosis of the insured's condition, Chubb reserves the right to rely on the certification from the Physician of their choosing for claim purposes.

Who are claim payments paid to?

For Long Term Care claims, payment is made directly to the insured or the person appointed as their Power of Attorney.

Life Insurance benefits are paid to the designated beneficiary(ies). If any designated beneficiary dies prior to the insured, the portion of the proceeds that would have gone to that beneficiary will be paid to the insured’s estate.

If there is more than one designated beneficiary, proceeds shall be divided equally among the beneficiaries, unless the beneficiary designation specifies the amount to be paid to each beneficiary.

Will the plan pay for benefits outside of the US?

The plan will only pay LTC benefits for care or services received in the United States or its territories. Death benefits are paid to the designated beneficiary(ies). If there are no beneficiary designations, benefits are paid to the insured’s estate. Death benefits will not be paid to any person listed in the OFAC sanction list.

Is the payout of LTC monthly benefits taxable?

No. LTC benefits are not taxable.

How do I appeal a denied claim?