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The ForeCare Multiplier provides two or three times (subject to underwriting eligibility) the amount of the contract value in long-term care (LTC) coverage to spend on actual incurred qualified LTC expenses (monthly reimbursement limits apply). These benefits are only available to use for a qualified LTC expense and will not become part of the contract value or death benefit. Withdrawals, other than for qualified LTC expenses, will adversely affect the amount of future coverage.
Guarantees are based on the claims-paying ability of Forethought Life Insurance Company.
Products and optional features are subject to state and firm availability. State variations may apply.
A life and health license is required to sell ForeCare. Some states may also require long-term care certification. Underwriting, typically completed at the point-of-sale, is also necessary. To invoke ForeCare’s long-term care benefits, the Insured must be unable to perform at least two of the six Activities of Daily Living as determined by a licensed health care professional.
Taxable distributions (including certain deemed distributions) are subject to ordinary income taxes, and if made prior to age 59½, may also be subject to a 10% federal income tax penalty. Distributions received from a non-qualified contract before the Annuity Commencement Date are taxable to the extent of the income on the contract. Payments from IRAs are taxable in accordance with the normal rules surrounding taxation of payments from an IRA.
This information is written in connection with the promotion or marketing of the matter(s) addressed in this material. The information cannot be used or relied upon for the purpose of avoiding IRS penalties. These materials are not intended to provide tax, accounting or legal advice. As with all matters of a tax or legal nature, you should consult your tax or legal counsel for advice.
“Forethought” is Forethought Life Insurance Company and affiliates, subsidiaries of Global Atlantic Financial Group Limited.
ForeCareSM fixed annuities are issued by Forethought Life Insurance Company and available in most states with Contract FA1101SPDA-01 (certificate GA1101SPDA-01, as applicable) with Rider for Long Term Care Benefits Form LTC2000-01, Optional Inflation Protection Benefit Rider Form LTC2001-01 and Optional Nonforfeiture Benefit Rider Form LTC2002-01 (certificate series LTCG2000-01, LTCG2001-01 and LTCG2002-01, as applicable). Products and features are subject to state variations and availability. Read the Contract for complete details.
FOR BROKER/DEALER USE ONLY. NOT FOR USE WITH THE PUBLIC.