Insurance for Business

Providing Insurance to Employees and Their Families

If you own or run a small or large business the issue of Long-Term Care will impact you and employees and their families. Employers can offer affordable Long-Term Care Insurance as either a voluntary benefit with no cost to the company or the company can pay some or all the premium.

There are a number of important benefits for a business owner. These include:

• Tax advantages. Premiums are deductible as a business expense.
• Key person benefit. You can select classes of employees in an executive carve-out to provide a paid benefit without legal obligation to offer to other employees.
• Simplified health underwriting. Depending on the number of employees to be covered the health qualifications are much more relaxed than outside a group.
• Gender neutral premiums. Men and women are charged the same premium.
• Spouses can be covered. If a spouse or partner is working they could also qualify for simplified underwriting.
• Extended family members can be eligible. While they would be required to go through full underwriting they can enjoy other benefits from the group plan.

As more people experience long-term care issues with aging parents offering a long-term care plan can attract and retain the best employees and provide peace-of-mind to their future retirement planning.