EssentialLTC announces LTCi plans designed for small businesses
Providing employees the option of buying Long Term Care insurance at work
National Guardian Life Insurance Company (NGL) announces approval in 38 additional states for an Employer Group rate class, priced on a unisex basis, designed for the worksite Long Term Care insurance (LTCi) marketplace.
Effective 11/30/18, the Employer Group rate class will be available in Alabama, Alaska, Arkansas, Colorado, Georgia, Idaho, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, North Carolina, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming. The remaining states where EssentialLTC is available will have a 5% Employer Group premium discount on EssentialLTC’s gender-specific pricing until those states approve the Employer Group rate class.
NGL’s EssentialLTC employer group premium rates are available to businesses with at least five employees. EssentialLTC offers a streamlined set-up process for the business, access to all the comprehensive EssentialLTC features available in the individual market, unisex premium rates for employees and their eligible family members,* and LTC Partnership eligible policies in many states.*
“We made this worksite marketplace release a priority because there are limited options for small businesses to offer LTCi. We understand that employers want access to affordable plans that protect their employees and their families against the devastating consequences of a long term care event,” said Michael Machlovitz, Director of Sales at LifeCare Assurance, administrator for EssentialLTC. “EssentialLTC is especially appealing for business owner and key executive LTCi plans, which can offer even more comprehensive benefits. Additionally, there are significant tax deductions available to businesses that fund LTCi plans for owners, employees and spouses.”
“We are excited to offer an LTCi option that can be affordable to the mass market when provided as an employee benefit. Due to high demand, we will continue to work with state regulators to release this option in more states,” said Dennis Vann, National Sales Vice President for NGL Specialty Insurance Markets.
EssentialLTC is currently available in all states excluding California, Hawaii, Montana and New York. For more information, visit: www.ngl-essentialltc.com.
*Not available in all states, contact your agent, broker or marketing organization for additional availability information.
About LifeCare Assurance Company
LifeCare has developed, launched and administered long term care insurance products for three decades. LifeCare has not only pioneered several product design features that are now widely used in the industry but has also successfully launched over 30 products for over a dozen companies. Additional information about LifeCare can be found at www.lifecareassurance.com.
Since 1910, National Guardian Life Insurance Company (NGL), a mutual insurance company, has been located in Madison, Wis. Licensed to do business in 49 states and the District of Columbia, NGL markets preneed and individual life and annuities, as well as group markets products including specialty and student insurance. Information about NGL can be found at www.nglic.com; Facebook: Facebook.com/NGLIC and LinkedIn: https://www.linkedin.com/company/national-guardian-life-insurance-company
National Guardian Life Insurance Company is not affiliated with The Guardian Life Insurance Company of America a/k/a The Guardian or Guardian Life.