Aug. 6, 2009

By MassMutual

Paying for life-long care for a family member with disabilities can be financially overwhelming.

“Not knowing how your child will be cared for after you’re gone is a heavy burden that weighs on most parents of children with special needs,” said David MacLaren of Fortville, Ind., parent of four children, three of whom have special needs.

MacLaren and his wife Ann have 14-year-old autistic twin sons and two adopted daughters, one of whom is legally blind. A special needs trust funded by a combination of whole and term life insurance was just what they needed to provide for their children’s future care, while not endangering their eligibility for federal benefit programs.

“Combining a Supplemental Special Needs Trust (SSNT) with permanent life insurance, such as whole life insurance, is a powerful one-two combination that can ensure there will be financial resources available to pay for a loved one’s care over the long term,” said Kevin Clasen, a MassMutual Special Care Planner with West Point Financial, a general agency of Massachusetts Mutual Life Insurance Company.

For some families, the combination has answered their long-nagging questions and soothed their long-standing fears.

“We feel a tremendous amount of confidence and relief now that we have our plan in place,” said MacLaren. “We know who will care for our children, and how that care will be paid for.”

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