National Guardian Life Insurance Company brings new LTC coverage to California

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The post National Guardian Life Insurance Company brings new LTC coverage to California appeared first on Live Insurance News.

The stand-alone LTC insurer is expanding its selling to the state starting on July 6.

The National Guardian Life Insurance Company has announced that it will be bringing its EssentialLTC long term care policy to California next month.

The stand-alone LTC insurance policy will become available to Californians starting next week.

This announcement means that the National Guardian Life Insurance Company long term care policy will have expanded across the entire country aside from New York and Montana. This coverage is sold through traditional associations, distributions and worksite marketing programs. The insurer also offers true group long term care insurance plans for companies employing a minimum of 5 people.

The insurer is based in Madison, Wisconsin. It has been selling in individual life insurance, annuities, preneed funeral arrangement, burial, and cremation services, and Medicare supplement insurance. It launched its long term care coverage policy in 2016 with the EssentialLTC product through LifeCare Assurance’s support. LifeCare Assurance is based in Woodland Hills California.

National Guardian Life Insurance Company made these moves into LTC as other insurers withdrew.

At the same time that the EssentialLTC product was launched, many insurers were either reducing their participation in the stand-alone LTC insurance market or were withdrawing from it completely.

LifeCare’s view has been quite different from the standard opinion of LTC coverage feasibility. It has stated that insurers that have collected decades of performance information for these products and that have become familiar with a low-interest-rate environment should find it easier to write profitable businesses in this category than those who were doing it for the first time decades ago. Back then, they did not have the data or experience and formed coverage when bond yields were considerably higher.

National Guardian Life Insurance Company national sales manager for individual products, Joe Guyotte stated that the EssentialLTC policy will provide Californians with a new option for providing their families with financial protection against the cost of their long term care requirements. The brochure for the product had yet to National Guardian Life Insurance Company - elderly carebe released by the time this article was written, but it is assumed that the product will be comparable to those under the same title in nearby states.

The post National Guardian Life Insurance Company brings new LTC coverage to California appeared first on Live Insurance News.


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