Attracting & Retaining Key Employees: Long Term Care Insurance

Long term care insurance for employees and their extended family members helps provide valuable coverage and encourages loyalty. For employers, it helps reduce employee turnover and attract superior talent.

What is Key Person Long Term Care?

 Long term care insurance helps pay for the care needed when someone is unable to perform activities of daily living such as eating, getting dressed, bathing, maintaining continence and getting in and out of bed without assistance. People may need long term care because of a lengthy, chronic illness, cognitive impairment, or an accident or injury may trigger the need without any warning.

How is it used?

Depending on the type of policy purchased, long term care insurance can provide coverage for long term care health needs in the home, community-based setting, assisted living facility or nursing home. The goal is to provide assistance and improve the quality of life for those with chronic, long term conditions. 

Long term care insurance can help you remain independent and stay in your home, if possible; have more choices and control over your care; relieve family members from caring for you; and help safeguard your future and your family should a long term care need arise.

What are the benefits?

Long term care insurance can help individuals plan for potential high costs associated with long term care needs.

 What are the different types of long term care insurance that can help in attracting and retaining key employees?

Executive Carve-Out
Offered to executives as an employer-sponsored benefit.

Individual Coverage
An individual long term care policy may be appropriate for you or your employees. The need for long term care may happen to you or anyone. The need for Long Term Care could be for you, your spouse, a parent, or even a sibling. Usually the need for long term care results from a very lengthy, chronic illness. However, something like an unexpected accident or injury could trigger the need for the long term care and Long Term Care Insurance. We have a 10 payment Long Term Care Insurance policy that makes it easy for you to have this valuable coverage by paying only 10 annual payments. We also have paid up at age 65 and standard lifetime payment options. 

If you prefer to speak to someone about attracting and retaining key employees for your business call 866-866-2960