NAIFA LECP Center Focuses On Long-Term Care Market

(FALLS CHURCH, Va.) – The National Association of Insurance and Financial Advisors has launched the NAIFA Limited & Extended Care Planning (LECP) Center to equip insurance agents and financial advisors with information, products, designation and educational resources to help them plan for generational limited, extended and long term care needs.

“Over the years, the industry has evolved with a plethora of solutions in products, services and training in the planning and administering of care,” said LECP Center Executive Director Carroll Golden. “That’s the good news. The bad news is that innovation has brought fragmentation to the industry, and it has become difficult for distributors and consumers alike to understand, let alone act upon the many options now available. The LECP Center empowers us to come together as an industry to communicate, organize and share information and intelligence so we may continue to address and advocate for the changing needs of the market.”

Golden announced the launch of the Center during her General Session remarks March 25 at the ILTCI Conference in Chicago.

The Center is the result of NAIFA’s collaboration with a group of founding sponsors which represent multiple categories of businesses that exist in the long-term care sector of the financial services industry. The sponsors include organizations in these categories: distribution specialists; education and certification; and carriers and corporations.

The founding sponsors are key contributors to the Center in the form of subject matter experts and resources that include videos, expert interviews, articles, case studies, webinars and infographics. Content covers traditional and combination products, as well as worksite selling, short-term care, critical illness, reverse mortgages, claims management, senior housing options, robotics and more.

Advocacy

NAIFA’s government relations team, which advocates on behalf of the industry, provides legislative and regulatory updates, positions and backgrounders on issues affecting the industry.

“With millions of LTC policies in force today and growing each year, our industry’s products and services are on the legislative and regulatory agenda on Capitol Hill and in state legislatures across America. It’s time we strengthen and unify our voice so we can advocate and educate lawmakers on the critical role our industry plays in the planning and providing of care for this growing population,” Golden said. “NAIFA members engage regularly with lawmakers and officials in the federal, state and regulatory arenas to ensure the industry’s interests are fairly represented in the policy and rulemaking process.”

For example, NAIFA-Maryland members serve on the Maryland Task Force on Long Term Care (LTC) Education and Planning, which provides Gov. Larry Hogan a list of policy recommendations to increase the public’s knowledge of LTC, promote the need for planning and educate consumers on the options for LTC coverage – both private and public plans. NAIFA supports the recommendations and is working with other NAIFA state chapters to ask state regulators and legislators to adopt similar proposals.

Outreach Includes Consumers

While the NAIFA LECP Center connects the industry and the financial advisor community through the center and NAIFA’s 90 state and local member chapters, consumers also will have access to information about products and services through NAIFA’s consumer site, AdvisorsYouCanTrust.org. As the key contributors to the Center, consumers and the industry benefit from the ability for NAIFA to distribute thought leadership and information to these audiences that extend outside the industry’s normal client and prospective circles.

Founding sponsors of the LECP Center are: Sustaining Level: One-America, Nationwide, Genworth, the Intercompany Long Term Care Insurance Conference Association, Inc. (ILTCI); Contributing Level: Thrivent Financial, RFS Lending; Promoting Level: Certification for Long Term Care (CLTC), GWG Holdings; Participating Level: Target Insurance Services, Inc. and Ash Brokerage; LTCi Partners;  Advanced Resources Marketing (ARM), New York Life, Legacy Shield.

NAIFA supports the general and administrative activities of the LECP Center, while sponsors underwrite additional development and maintenance costs. The Center is governed by an Advisory Board of industry thought leaders and sponsor representatives who contribute to strategy and oversight, as well as content, education, community development and advocacy.

NAIFA CEO Kevin Mayeux, CAE, said: “NAIFA is pleased to have Carroll Golden serve as director of the NAIFA LECP Center. As a recognized thought leader and expert in the care industry, Carroll has brought together key thought and industry leaders to deliver a much-needed resource for the industry, and for the many insurance and financial advisors who need assistance navigating the complex solutions available in care.”