KIRKLAND, Wash. — Today the National Education Association of the United States (NEA) announced the selection of LTC Financial Partners, LLC (LTCFP) and John Hancock Life Insurance Company to provide long term care education and insurance for NEA’s 3.2 million active and retired members, plus their families. The aim of the NEA Long Term Care Insurance Program(SM): to help America’s educators, support professionals and administrators afford long term care solutions for themselves or a family member, if and when needed, without risking depletion of retirement savings and other assets.
LTCFP and John Hancock will work directly with NEA’s Member Benefits Corporation (NEA MB), a wholly owned subsidiary that markets a variety of financial, lifestyle and professional programs for NEA members.
John Hancock, a leading financial services company, was selected to provide the insurance policies and benefit distribution. The education and on-the-ground NEA member assistance will be provided by LTC Financial Partners, LLC (LTCFP), one of the nation’s largest and most experienced long term care insurance agencies. “People need to learn why long term care protection is important and what their options are,” says Cameron Truesdell, CEO of LTCFP.
As America’s population ages and 77 million Baby Boomers approach retirement age, long term care is becoming an increasingly critical issue. According to the U.S. Department of Health and Human Services, more than 60% of seniors over age 65 will need some type of long term care. This year, that number is expected to be more than nine million Americans. By 2020, it could exceed 12 million, with nearly every American likely to have a family member or close relative who needs care at some point. “We want to show NEA members and their families how to plan and pay for long term care affordably,” says Truesdell.
Gary Phoebus, president and CEO of NEA MB, comments, “We are excited about working with industry leaders like John Hancock and LTCFP. This partnership will enable us to offer members a customized long term care insurance program with a focus on consumer education. We believe it’s the perfect complement to NEA’s other solutions-based programs and services.”
With offices nationwide and nearly 500 experts available, LTC Financial Partners is breaking new ground in the long term care field. “We’re using multiple, broad means to empower people,” says Truesdell. “We’re doing it in person through seminars and meetings; over the phone through individual counseling; via the Internet through text and video; and through publications and distribution of facts to the media. We are committed to helping people live life fully and completely in dignity, comfort and independence without financial burden.” More information is available at http://www.ltcfp.com.
For many years John Hancock has been at the forefront of helping Americans to prepare for a more secure retirement through the purchase of long term care insurance. The company offers a broad portfolio of comprehensive solutions and is committed to consumer education, making it uniquely positioned to meet the needs of NEA members. A unit of Manulife Financial Corporation, John Hancock is one of the largest insurers in the United States. In addition to long term care insurance, the organization offers a broad range of financial products and services, including life insurance, fixed and variable annuities, mutual funds, 401(k) plans, college savings, and other forms of business insurance. John Hancock carries the highest-“AAA”-financial strength rating from Standard & Poor’s Ratings Services. Additional information about John Hancock may be found at http://www.manulife.com.
The National Education Association of the United States is the nation’s largest professional employee organization, representing 3.2 million elementary and secondary teachers, higher education faculty, education support professionals, school administrators, retired educators and students preparing to become teachers. More information about NEA is available at http://www.nea.org.
NEA’s Member Benefits Corporation is the wholly-owned subsidiary of the NEA devoted to helping make NEA members lives better through providing solutions, products and services that address their financial, professional and lifestyle needs. More about NEA MB is available at http://www.neamb.com.
[tags]National Education Association of the United States, LTC Financial Partners LLC, NEA Long Term Care Insurance Program[/tags]