American General Life Cos. unveiled a new long-term care product designed to let policyholders “stay at home longer,” according to the company.

The American General LTC product features a Stay at Home Support Benefit, which covers 10% of maximum lifetime benefit for home modification, durable medical equipment, respite care, hospice care and caregiver training, payable during the elimination period. The product also features a Shared Care Benefit Rider, which creates a third pool of benefits to be used by either spouse, once their benefits have been exhausted, according to the conmpany.

Other features include a built-in cash benefit, graded premium options and benefit amounts of $100,000 to $1 million, rather than benefit time periods.

“Recent market research shows that consumers increasingly understand the need for long term care funding, particularly to help protect their assets in a post-recession economy,” said Jay Drucker, vice president of product and business development at American General, in a statement.