LifeCare offers a customized turnkey approach to long term care product design and development, as well as long term care administration. Through its interactive product consulting services, LifeCare provides complete long term care product development, filing, valuation, and risk management. Once the filing process begins, LifeCare provides weekly progress updates. Marketing and accounting reports are provided monthly, while valuation, experience reporting, and profit statements are provided on a quarterly basis. Annually, LifeCare provides the data to support all tax, statutory and regulatory filings. LifeCare also has the capability to furnish any other information required regarding the long term care program. Finally, LifeCare monitors claims experience, filing any rate increases quickly and efficiently if they become necessary. LifeCare typically provides full back-office administration. However, if desired, LifeCare can provide underwriting and claim services only. As an independent professional reinsurer that is a risk-bearer rather than just a pool administrator, LifeCare conducts periodic audits when reinsurance clients choose to perform the underwriting or claims administration functions internally. Since LifeCare assumes a portion of the insured risk as a retrocessionaire, high quality underwriting and claims handling are assured. When LifeCare provides full back-office administration, as is typical, ledger accounting is provided on a monthly basis, non-ledgers on a quarterly basis, and tax reserves on an annual basis. Once the program is operational, a joint venture partner needs only to be involved in the product management to the extent it desires.

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