Comprehensive solutions that meet all of your policy administration needs.

The administrative demands of long term care insurance policies can be challenging for insurers. That’s because many insurers’ systems are designed around life or annuity products, which are ill suited to meet the specialized needs of long term care insurance. In addition, most legacy systems cannot keep up with the rapidly evolving product requirements.

LTCG sets the industry standard for LTC administrative support through our comprehensive solutions for all aspects of policy administration. Thanks to our advanced technology and unsurpassed expertise, our policy administration area is highly skilled in administering several key components through the life cycle of a policy.

One of the key pieces in administering long term care policies is the billing process. LTCG currently administers policy invoicing for Individual, Group, and Multi-Life policies, collecting $1.6 billion in premiums annually. Due to this diversity, invoicing is handled through a variety of options including payroll deduction, list bills, EFT drafts, credit card payments, and standard paper invoices. Not only does our team process the invoices and money coming in, we are also responsible for multiple communication touch points throughout this process, including both customer service and premium collections. Services include: demographic changes, coverage changes, lapse processing and terminations, reinstatements, inflation processing, waiver of premium, paid-up processing, nonforfeiture and rate increase administration.

Many insurance companies in the LTC industry have found themselves in a position where they have had to raise rates on their in-force policies. Rate increase administration is another area where LTCG provides in-depth expertise. Our team works on each rate increase project with great care to ensure the policyholders’ options are clearly communicated to them. During this time, we review multiple billing and coverage options that may be available to thousands of insureds whose in-force policies are impacted by the rate increase. Upon request, we also take the necessary next steps to provide policyholders with additional options including adjusting benefits, running rate quotes, and exploring nonforfeiture options.

LTCG’s policy administration area is also responsible for ongoing administration for over one million long term care policies. We offer customized options for all policy output including certificates, schedules, riders, and general correspondence.

LTCG continues to be the industry leader in helping insurers meet and exceed customers’ service expectations. Our highly-skilled representatives have over 240 collective years of in-depth long-term care knowledge and can provide a “one stop shopping” approach to meeting every individual’s needs.

To learn more about how LTCG provides comprehensive, end-to-end policy administration, contact us.