State Life Annuity Care is a single premium deferred annuity that allows for your clients to pay for long term care expenses on a tax free basis. Funds grow on a tax-deferred basis earning a competitive, safe interest rate. And if used for long term care, the interest rate is even higher in addition to not having to pay ANY taxes. Great for the senior market. And ideal for a 1035 exchange from older annuities that are not qualified under the Pension Protection Act to allow for tax-free withdrawals for long term care.