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The group market for long-term care (LTC) has tended to target programs to larger work forces due to the cost and time involved in creating new plans. "There's a lot of communication involved in setti

By Michael P. Voelker | Updated on September 30, 2007

The group market for long-term care (LTC) has tended to target programs to larger work forces due to the cost and time involved in creating new plans. “There’s a lot of communication involved in setting up a plan, and first-year participation averages less than 10 percent because it’s a voluntary product,” says Christopher Matz, national sales director of group long-term care insurance at Prudential Insurance.

Employers offering LTC coverage also tend to want a white-labeled program they can customize with their own corporate identity. Completing the sales, underwriting, and customization processes of traditional group LTC typically takes Prudential about four months.

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