How we do it
Scalable, Comprehensive Product Development, Implementation, and Maintenance Configured to Fit Your Needs

LifeCare designs each long term care insurance product as built-to-order. This approach allows us to scale each client’s implementation appropriate to their needs. By leveraging nearly three decades of experience and a highly flexible infrastructure, LifeCare’s proven product development process remains fluid through each step of implementation:


to the top link

Product Development
As product design is the foundation of a successful long term care insurance product, our forward-thinking features and benefits allow your product to stand out from the competition. In fact, we have pioneered many of the product features being offered in the marketplace today, including:

 


to the top link

Application Processing
LifeCare’s cutting edge pre-screening technology platform is designed to rapidly screen all incoming applications and instantly highlight deficiencies or exclusions. This innovative resource allows us to streamline application processing and is the key to our accelerated time service standard.

 


to the top link

Underwriting Services

LifeCare’s underwriting philosophy is to carefully consider each applicant’s medical history, physical ability to function independently and, to the extent possible, cognitive ability.  LifeCare’s products have historically performed as well or better than the competition.  In fact, it is rare for more than a handful of claims to be filed in the first five years after the policy is issued, and claims typically remain at less than 1% in the first 10 years.  We attribute these superior claims results to our thorough underwriting methods, which include:

LifeCare’s underwriting team also bring years of experience. Our underwriters have an average of 15 years of experience in LTC underwriting and many have years of prior experience in Life and Disability Income underwriting.

 


to the top link

Regulatory Filing and Compliance
As a member of The American Council of Life Insurers (ACLI) and nearly thirty years of experience in the unpredictable long term care insurance regulatory environment, LifeCare remains at the forefront of both federal and state regulatory issues.

Our thorough knowledge of long term care insurance regulations and procedures helps our clients avoid market conduct issues. While multi-line companies file long term care insurance products only occasionally, we have nearly three decades of experience. This continuous contact with state insurance departments keeps us up-to-date with the latest state requirements and often helps in shaping state opinion on new benefit designs.

Our wide-ranging services include product filing through ongoing compliance support, including:

 


to the top link

Claims Management
LifeCare’s claims philosophy is to provide benefits as quickly as possible. Because most long term care insurance claims involve life-changing events and often loss of independence, our Personal Care Advisors work closely with the insured, family, and caregivers to guarantee the delivery of needed services. When appropriate, we also involve Care Managers trained in the geriatric field.  Our experienced staff averages 14 years in health care and five years in long term care to ensure clinical and claims issues are properly handled.

 


to the top link

Actuarial Services
Pricing a long term care insurance product to avoid any risk in today’s dynamic environment is a daunting challenge. We provide this specialized knowledge and experience as part of our comprehensive service. Throughout our history, we have priced products both competitively and safely to avoid future rate increases, while maintaining loss ratios lower than industry averages.

 


to the top link

Administration and Service
LifeCare’s expansive customer service capabilities provide the full scope of policy management. From the development and distribution of policyholder notices and communications to premium collection and billing, our team of courteous and knowledgeable customer service specialists are trained in all areas of policy administering and servicing.

Our facilities management team also maintains onsite, state-of-the-art printing technology and a full-scale fulfillment division to maintain control over branding, production, and the timely delivery of policyholder and agent communications.

 


to the top link

Commission Payment Processing
LifeCare’s commission payment system is scaled to your requirements and manages every step of the process from providing finely detailed reporting to monthly commission audits to calculations and check dispersals. Our team, highly specialized in long term care payment processing, can manage cumbersome client-specific issues such as internal replacements, unclaimed property tracking, IRS levies, 1099 commissions, and debit balances to highlight just a few, relieving your internal commissions team of the time and responsibility required in processing each.

 


to the top link

IT Services
LifeCare’s state-of-the-art technology platform is unparalleled in the industry. Our highly-skilled technology team applies advanced, productivity-based solutions to maximize efficiencies and deliver accurate, timely data analytics. Our innovative IT Services are tailored to client needs and typically include:

 


to the top link

Agent and Sales Support
In addition to LifeCare’s extensive agent website portal and our multidisciplinary team of product managers and customer service specialists, we support agents through the demanding sales process by offering:

 


to the top link

Agent Resource Center
LifeCare develops a feature-rich, 24-hours/7-days a week, secure, website portal for each client where agents can independently download state-specific forms, confirm application status, access marketing organization reports, and create online quotes so our client’s agents can work continuously and without interruption to production or to retrieving vital information.

 


to the top link

Marketing Support
As an option, we assign a highly-skilled team exclusively dedicated to each of our clients. Our knowledgeable product managers offer strategic direction and support to agents, our USA-based customer service specialists’ act as representatives of our client’s operational team, all of which is done seamlessly through the cloak of dedicated toll-free numbers and websites catering to your brand identity.

 


to the top link

Reinsurance Solutions
LifeCare’s reinsurance division offers up to 100% coinsurance coverage, removing all financial responsibility from our clients regardless of the level of success of our client’s product performance. 

Learn Why LifeCare