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	<title>New answer on: What Is Group Long Term Care Insurance?</title>

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		<title>By: William Bridgers</title>

		<link>https://insurancelibrary.com/long-term-care-insurance/what-is-group-long-term-care-insurance</link>

		<dc:creator>William Bridgers</dc:creator>

		<pubDate>Mon, 08 Jul 2013 04:37:36 +0000</pubDate>

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		<description><![CDATA[In the land of Long-term Care Insurance (LTCi), the word &quot;group&quot; roughly means &quot;guaranteed issue&quot;.&#160; Guaranteed issue means that all one has to do is apply and coverage will be issued - no formal underwriting.&#160; It takes a pretty big group for an insurance company to take on the risk of true group LTCi.&#160; I don&#039;t believe any carriers provide it anymore, although much of it was sold previously and is still in force.&#160; Some carriers will still write &quot;simplified issue&quot; group wherein the applicant must answer 4 or 5 questions in the negative to qualify.&#160; If they answer &quot;yes&quot; to any of the questions, the insurance&#160;company may still consider them, but only if they authorize the insurance company to look at their medical records and maybe call them for an underwriting interview over the phone.&#160; Only a few carriers are still in this market segment of LTCi, however.&#160; Carriers will provide a small discount of 5% or so to smaller numbers of applicants that are successfully underwritten and all work for the same employer.&#160; The minimum number depends on the carrier, but it is usually a minimum of 5 - 7 FTE.&#160; This is called &quot;multi-life&quot; long-term care insurance and is not true group.&#160; But, people refer to it that way.Multi-life underwriting may be &quot;simplified&quot;, or &quot;modified- simplified&quot;.&#160; Regardless, some underwriting does take place and a person may not qualify medically.&#160; In the past, if enough people in a multi-life situation qualified for coverage, a carrier would accept one person who didn&#039;t qualify medically and issue a base contract of coverage to that person.&#160;&#160;That accommodation is not actively marketed these days and may only be available under special conditions.&#160; With a multi-life policy, the insured owns his/her own policy and can take it with them when they leave employment.&#160; The discounted premium is portable, too.Multi-life may be worth looking into if the company only wants to insure executives,&#160;owners or key occupation classes.&#160; LTCi is not yet subject to ERISA rules, so companies can &quot;carve out&quot; who they want to provide this kind of insurance to.&#160; Payment of premiums by the corporation (especially C-corps) may qualify as a health insurance expense and deductible for tax purposes, as well.&#160; But, before assuming any special treatment of premium payments, one should consult with a qualified tax professional.Otherwise, there is no true group&#160; LTCi and&#160;fewer &quot;deals&quot; any more for LTCi.]]></description>

		

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