Closing the Care Gap: A Guide for Families
Immediate Care Plan
A clearer way to pay for care that's already needed.
The Lumos Immediate Care Plan turns a single sum of money into guaranteed income for life — designed to help cover the cost of care.
When someone needs formal, paid care, there's often a monthly shortfall between what care costs and the income coming in. An ordinary retirement annuity may not be the right tool — and can cost more than necessary. The Immediate Care Plan is purpose-built for this moment: funding care that's needed now, priced on the person's real situation.
What the Immediate Care Plan is
The Immediate Care Plan (ICP) is a type of annuity. You make one payment — a single premium — and in return receive a guaranteed monthly income for the rest of the annuitant's life, intended to help pay for care.
Payments typically begin within about a month and continue for life, no matter how long care is needed. It's a way to convert savings into dependable, predictable funding at the moment care begins.
A standard annuity vs. the Immediate Care Plan
Both turn a lump sum into guaranteed lifetime income. The difference is what the price is based on — and that difference matters most when care is already needed.
Standard income annuity (SPIA)
Priced on averages
- Priced on age, gender, location, and interest rates
- Assumes an average life expectancy
- Built for retirement income planning
- Can require more capital when care is already needed
Immediate Care Plan (ICP)
Priced on the individual
- Medically underwritten — reflects actual health and care needs
- Pricing driven by underwriting, not just interest rates
- Built specifically to fund care that's already needed
- Can fund the same income for meaningfully less
Because the Immediate Care Plan is priced on a person's real situation rather than a population average, funding the same lifetime income can require far less money — preserving more of a family's savings for everything else. Here's how that can look in an illustrative example:
Illustrative example only, to fund the same $3,000/month for life. Individual results vary based on medical underwriting, age, health, and product terms.
How it works
Review
A licensed professional reviews the care situation and the monthly gap to be funded.
Underwriting
Lumos assesses medical records, diagnosis, daily-living ability, and caregiver input.
Single premium
One payment funds the plan, based on the income needed and the underwriting result.
Income for life
Guaranteed monthly payments begin within about a month and continue for life.
Who it's designed for
The Immediate Care Plan is built for people who already need formal, paid care — not for general retirement planning. Optional features can add annual income increases to keep pace with rising care costs, or extra protection for beneficiaries.
Why Lumos?
Lumos Insurance is the brand of The Plateau Group — a U.S.-based insurer with more than four decades of disciplined underwriting in the senior and specialty markets. The Immediate Care Plan is issued by a licensed U.S. insurance company and backed by AM Best A‑ rated financial strength.
Behind every plan is a real family making a hard decision during a difficult time. That's the standard we underwrite to.
Talk it through with someone who can run your numbers.
The Immediate Care Plan is offered through licensed insurance professionals who can review your specific situation and provide exact figures.
This content is for general educational purposes only and is not insurance, financial, or tax advice, an offer, or a recommendation. Product availability, features, and pricing vary and are subject to underwriting, state approval, and policy terms and conditions. Guarantees are subject to the claims-paying ability of the issuing insurance company.
