You may feel that your firm is too small or that you have a number of K-1 business owners. Historically, most carriers have not recognized K-1 business owners as benefit eligible; however, we’ve found carriers that are willing to recognize this type of employee and are able to provide benefits to them.
Or you may already have a long-term care insurance (LTCI) plan in place but you haven’t seen enough employee participation. You may have had the best intentions to do some research into LTCI, but you just haven’t had the time to get more informed. Do any of these sound familiar as impediments to your goals?
Let’s now discuss some of the challenges you, as an employer, may face when introducing LTCI, and how to best overcome them.
WORKPLACE SIZE AND DEMOGRAPHICS
Regardless of the demographics of your group or past LTCI offerings, it might be worth giving your long-term care planning options and information a second look.
LTCI group plans can accommodate groups as small as 10 employees and can also work for you if you have a number of K-1 business owners.
You can get a comprehensive proposal that includes all LTCI carriers available in the marketplace for your group, as well as other solutions that you might consider, like a life insurance policy with an long-term care rider. This option can sometimes allow for guarantee issue underwriting.