AMEX Life introduces Privileged Care Select in California.

SAN RAFAEL, Calif.--(BUSINESS WIRE)--June 27, 1995--AMEX Life Assurance Company has released a new advanced state-of-the-art Long Term Care (LTC) insurance product in California: Privileged Care Select.

In California, AMEX Life now offers this new integrated policy as well as a facility-only product and the California Partnership LTC products.

Privileged Care Select provides flexible, integrated benefits which cover a wide array of LTC services. The policy provides greater ease in accessing LTC providers and services. It provides the policyholder with a personal benefit account to be used for any of the LTC services covered under the policy, including care in the policyholder's home, an adult day care program, assisted care facility, or in a nursing facility.

"This product not only protects the policyholder's life savings from many types of long term care expenses, it lessens the burden on the policyholder's family," said Thomas A. Skiff, president of AMEX Life. "Not becoming a burden on one's family and preserving one's independence are major reasons why people purchase long term care insurance. That's why this product features the innovative Privileged Care Coordination benefit."

Privileged Care Coordination benefits, said Skiff, provide the policyholder and the family with counseling and support should the policyholder need home health care and other community-based services. With this benefit, an independent professional care coordinator visits the policyholder's home, assesses the individual's needs, explains the range and availability of services in the area and coordinates the appropriate care for the policyholder. These care coordinators are located throughout California.

In addition to the services of a professional care coordinator, the policyholder receives the following when the Privileged Care Coordination benefit is utilized:

-- The Home Care elimination period is waived. Also, days in which payable expenses are incurred for Home & Community Care are credited toward completion of the Facility Elimination Period.

-- There is 100% coverage for home health aides, personal care attendants and homemaker/chore services.

-- A weekly maximum of seven times the daily maximum is used in order to allow the policyholder to cluster services.

Privileged Care Select options include first day benefits or a 50 or 100 day elimination period. The elimination period is the number of days of care the insured must receive before benefit payments begin.

In Privileged Care Select, the elimination period needs to be satisfied only once during the policyholder's lifetime.

Also in Privileged Care Select, assisted care facilities are covered up to 100% of the expenses incurred, subject to the daily benefit maximum.

The policy also provides coverage for a home health aide, personal care attendant and homemaker/chore services as needed in the insured's home. Privileged Care Select also includes coverage for community-based services such as adult day care, hospice care, respite care, caregiver training and the rental or purchase of supportive equipment.

In addition, Privileged Care Select provides protection against unintentional lapse. Should a policyholder let a policy lapse due to non-payment of premium, AMEX Life will reinstate it upon payment of all past due premiums if the insured has been cognitively impaired within nine months of the termination date, or functionally impaired within five months of the termination date.

The Privileged Care Select policy establishes the policyholder's personal benefit account equal to 2, 3, 4, and 6 years of coverage. Also offered is a Lifetime plan. The personal benefit account and the daily benefit will be increased each year if either of two benefit inflation options are purchased.

"AMEX Life has led the LTC industry for 20 years with innovative services and products that are backed by a sound financial base and unparalleled experience in the LTC business," said Skiff. As the largest LTC insurer in the nation, AMEX Life was the first company to publish its LTC claims payment record.

AMEX Life Assurance Company is the pioneer in long term care insurance. Its A.M. Best rating is A+ (Superior).

Privileged Care Select is a part of AMEX Life's portfolio of California LTC products. AMEX Life also offers a facility-only plan and two plans approved under the California Partnership for Long Term Care.

For more information regarding AMEX Life's line of California LTC products, including Privileged Care Select, please call 800/456-3399.

CONTACT: AMEX Life Assurance Company

Ronald D. Hagen, 415/492-7976

Samuel Morgante, 415/492-7721