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Consider Hybrid Life Insurance with Long Term Care Coverage

Do you offer long term care coverage as an employee benefit? No one wants to talk about it, but we should all consider it when planning for our future.

WAICU’s partner Affinity LTC offers a hybrid life insurance policy with a long term care rider, or LTCi. Employers say that sponsoring a group LTCi plan shows concern about workers’ welfare, helps to build morale and loyalty, and helps to retain qualified, highly skilled employees.

The WAICU LTCi program can be appealing for several reasons:

  • Favorable underwriting. Insurers streamline underwriting for group plans. Individuals who try to obtain an LTCi product must undergo a health evaluation, and many are deemed uninsurable as a result. Our Group plan offers Guaranteed Issuance.
  • Gender equality. In the individual markets, insurers typically charge higher premiums for women than men – sometimes double and triple the cost! On average, women live longer than men and thus potentially require more care or longer periods of assistance. Policies obtained through our program are gender neutral.‍
  • Convenience. Simply put, it’s easier to buy LTCi through an employer’s plan than it is to engage with an insurer on one’s own. With the WAICU program you know due diligence has been performed, including vetting providers, and negotiating premiums, underwriting concessions, and participation limits. Plus, Affinity LTC can also provide group meetings and/or personal consultations that can help employees make long-term care decisions.
  • Flexibility. Premiums of policies can be payroll deduction or direct billed – This is an Employer decision.
  • NO SALES PRESSURE! WAICU’s Affinity LTC representatives are salaried employees and take a consultative approach to educate you and your employees, without commissioned agent pressure.

For more information or to see what this would look like for your employees email Amy Ewbank or Julie Clevenger.

For information about the Long Term Care program, visit our website or email WAICU Chief Operating Officer Jennifer deHart.