Multi-Life LTCi can add an additional revenue stream to your existing client base that cannot be removed by a Broker of Record letter. When properly structured, a case can continue to increase revenue over time.
Why LTCi? Most client companies do not have it, even though it is something employees are asking about. Plus, the employer can fund a base plan for a group of employees of their choosing, and then deduct any funded premium.
How can ARM help? ARM is used as the enrollment team. We focus exclusively on LTCi, so we enroll, but more importantly, we educate. Our involvement helps maximize buy-ups, voluntary enrollment, and spousal/partner participation. With our help, the minimum funded plan is almost always exceeded with buy-ups, spousal/partner coverage and voluntary participation from the rest of the employee population.
Minimum Carve-Out Basics
- Base plan is on average $100 per employee per month
- 10 employee minimum to secure Simplified Issue Underwriting
- Employer can chooses who gets it
- Employer can deduct the premium
Broker Revenue Example
Let's look at a basic minimum plan of 10 funded employees with an annual premium of $100 per employee per month [$12,000 annualized premium].
|Broker Revenue Year One||$3,9000|
|Broker Revenue Years 2-10||$480/year [$4,320 total]|
- Revenue is basically half the first year's premium plus the other half split over the next nine years
- Most importantly, revenue is vested from day one!
Case Study: Paternalistic Engineering Firm
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