<< Return to LTC Connection

Topic of the Month: July 2009
Mutual Care at Work

Mutual Care at Work is a multi-life program for businesses with three or more employees. Here’s how it works:

  • The program uses Mutual Care My Way – a customizable LTCi product
  • Each participant applies for and, if approved, is issued an individual LTCi policy
  • Premium allowances make the coverage less expensive than if participants purchased individual LTCi policies on their own
  • Employers decide who participates in the program:
    • All employees
    • A select group of employees (i.e. all managers)
  • Coverage is available for the business owner, employees, spouses and extended family members (parents, adult children, siblings, grandparents, in-laws and all step equivalents)
  • Employers determine how they want to fund the program:
    • Voluntary (employee-paid)
    • Employer-paid
    • Executive carve-out

Mutual Care at Work Program Highlights

Product features
  • All the same great built-in and optional features as Mutual Care My Way

Target market
  • Small- to mid-sized businesses
    • Businesses with 3 to 9 employees
    • Businesses with 10 or more employees

Funding options
  • Voluntary
  • Employer-paid
  • Executive carve-out

Underwriting programs
  • Modified guaranteed issue (Select only)
  • Simplified issue (Select only)
  • Full underwriting (Preferred, Select, Class I, Class II)

Premium allowances
  • Modified guaranteed issue — 10%
  • Simplified issue — 10%
  • Full underwriting — 5%

Additional allowances also available:

  • Preferred — 15%
  • Spouse — 35%
  • Married — 15%
  • Two-person household — 10%

Benefits and features may vary by state.