Wealth &
Protection Planning

Multi-Life Long-Term Care Insurance

A multi-life long-term care insurance policy is a discounted policy offered to individuals where, typically, ten or more eligible employees with a common employer are covered.

The discount, typically 5-to-10 percent, is extended to as broad a group as possible including spouses and even parents of both the employee and their spouse. While this form of coverage, usually offered on a voluntary (employee-pay-all) basis, is sometimes utilized by larger entities, it is midsize and small groups who increasingly favor it. The discount is generally offered so long as the group has 10 or more individuals eligible.

Generally, these policies are the very same policies one would purchase on an individual basis from an insurance agent. Most companies will still require the applicant to undergo full health underwriting prior to be accepted for coverage. Some may have more simplified questions depending on the size of the group and whether the employer contributes to the program.

Contact a STRIVE Wealth Advisor for more information about multi-life long-term care insurance. 

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