Although we've discussed LTCi before, it's always been about individuals buying these plans on their own. But that's not the only way one can buy a plan:
"According to Top Trends in Voluntary Benefits, a study conducted in 2009 ... revealed that 84% of employer-respondents indicated that they offer voluntary benefits ... Long-term care insurance placed third in the survey, with 51% of participating companies offering the coverage."
The idea is that one can purchase a policy on a perhaps more favorable basis this way (carriers often relax underwriting rules and offer discounted premiums for worksite products). There's also the perceived advantage of payroll deduction for your premiums, so you that don't have to write another check each month (or year).
The downside to these kinds of plans is that they offer a limited choice of benefits, and not all of these plans may be "portable" (that is, that one can keep the plan if one leaves that employer). Another thing to check when considering a worksite type plan is whether or no it's Partnership Compliant, which I believe will become more and more important as time goes on.
Still, it's certainly a viable option, and one to at least consider.
[Hat Tip: John Hancock Life]
"According to Top Trends in Voluntary Benefits, a study conducted in 2009 ... revealed that 84% of employer-respondents indicated that they offer voluntary benefits ... Long-term care insurance placed third in the survey, with 51% of participating companies offering the coverage."
The idea is that one can purchase a policy on a perhaps more favorable basis this way (carriers often relax underwriting rules and offer discounted premiums for worksite products). There's also the perceived advantage of payroll deduction for your premiums, so you that don't have to write another check each month (or year).
The downside to these kinds of plans is that they offer a limited choice of benefits, and not all of these plans may be "portable" (that is, that one can keep the plan if one leaves that employer). Another thing to check when considering a worksite type plan is whether or no it's Partnership Compliant, which I believe will become more and more important as time goes on.
Still, it's certainly a viable option, and one to at least consider.
[Hat Tip: John Hancock Life]
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