What You Have to Know
- Many employees at the moment are caregivers.
- They’re hungry for concepts about the best way to pay for their very own care.
- Textual content messaging is the brand new e mail.
One necessary factor I discovered from the Intercompany Lengthy-Time period Care Insurance coverage Firm Convention: Lengthy-term care insurance coverage veterans are optimistic concerning the group long-term care insurance coverage market.
ILTCI had an awesome session right here, in Raleigh, North Carolina, on the group LTCI resurgence.
My pal Steve Cain, a director at LTCI Companions, moderated a panel that featured three extra associates: Adam Ruder, a vp at J. Manning & Associates; Kevin Sypniewski, CEO of the AGIS Community elder care assets enterprise; and Denise Gott, the CEO of ACSIA Companions, a significant LTCI specialty company. (I’ve been an agent affiliated with ACSIA for greater than eight years.)
Everyone knows that the LTCI market has gone by way of exhausting instances.
However the panel members agreed: curiosity in employer-sponsored long-term care advantages is heating up.
Employers may present these advantages by way of employer-paid group plans.
Employers may ship the advantages by way of voluntary, employee-paid group plans, or by way of particular person insurance policies bought by way of the worksite.
They may provide stand-alone LTCI protection, or long-term care advantages constructed into life-LTC hybrid insurance policies.
However, no matter type the advantages take, the curiosity is there, as a result of the standard age of the standard participant a U.S. profit plan is now over 45.
A lot of these staff at the moment are coping with caregiving.
Robust Demand
Adam mentioned he tells advantages brokers, “This isn’t as a lot work as you assume it’s going to be. You don’t must promote everyone this product. Simply come again, yr after yr.”