America's aging population continues to grow. Over the next 40 years, a majority of Americans will require assistance with the basic activities of day-to-day living. Assisted living facilities and nursing homes are extremely expensive, and traditional coverage makes very limited contributions. You can help your employees prepare for the days ahead with long-term care insurance and critical illness insurance. With a proactive approach, both types of insurance can substantially benefit employer and employee over the long run.
Long-term care insurance delivers many benefits.
- covers care in your own home
- covers assisted living facilities
- covers nursing homes
- reduces your financial burdens
- gives you more control
- reduces stress on families
- provides flexibility
- provides peace of mind in retirement
- keeps employers competitive
- improves company benefit packages
- need not require company cash outlay
- requires no administration or paperwork from the employer
- can target specific employment groups within a company
- can be offered at a discount to an employee's immediate family
Critical illness insurance can help your employees alleviate concerns about potentially devastating bills brought on by serious medical problems.
- usually provides a lump sum benefit to pay costs not covered by other insurance
- benefit is not restricted; it can pay for housekeeping expenses, modifications to a home or car to accommodate a handicap, child care expenses, and other costs associated with critical illness
- offers your employees benefits like policy discounts, guaranteed issues, simplified underwriting, and premium payment via payroll deduction
