Enrollment Season’s Missing Conversation: Protecting the Nest Egg

Picture an employee at their enrollment meeting. They’re comparing medical plans, checking their deductible, and wondering whether to add dental. Long-term care (LTC) probably isn’t on their radar.

But it should be, because few things can drain a retirement account faster than the cost of care.

A lot of people assume their health insurance or Medicare will cover it. It won’t, at least not in the way they expect. Standard health insurance was never built to protect savings from long-term care costs, and a single year of care can take a big bite out of a 401(k) balance. Years of steady saving can start disappearing quickly.

Life insurance with LTC benefits gives employees a way to cover care without dipping into retirement savings. If they never need care, the policy still pays a life insurance benefit. It also helps employers, because their 401(k) contributions are less likely to end up funding long-term care instead of retirement.

Want the full picture?

This enrollment season, consider sharing this message with your employer groups. It’s an easy way to start a conversation most people haven’t had yet. And your local Trustmark representative is always happy to talk through options.