LTC Financial Partners
Encyclopedia
LTC Financial Partners, LLC (LTCFP), based in Kirkland
, Washington, is one of the largest long term care insurance
agencies in the United States
. Its field is one of growing importance as millions of Baby Boomers
reach retirement
age, and as health reform acknowledges the care needs of an aging population. The company also offers hybrid policies that combine long term care benefits with features of annuities
and life insurance
; long term care education; and reverse mortgage
s.
within the same firm. LTC Inc. was founded in 1985 and built the largest LTC insurance career force in the United States. LTC Inc. was later sold to GE Capital
in 1997.
LTCFP claims to be the only producer and employee-owned national organization of long term care insurance specialists in the United States.
Serving the LTC insurance
needs of consumer
s as well as organizations, LTCFP also publishes LTC financing information, including Dignity for Life: Five Things You should Know Before Considering Long Term Care Insurance.
In 2006 LTCFP introduced a new tool for human resource
managers, called the LTC Outreach and Education Program(TM) or LTCOEP(TM)for short. The aim is to help HR managers change their departments from cost centers to profit centers. The program does this by helping employees cope with the productivity-draining prospect of caring for family members, such as aging parents, who can no longer care for themselves. By freeing themselves from needing to provide care personally, employees regain the ability to focus on work. LTCOEP(TM) is available free to companies and non-profit organizations of all sizes.
In 2010 LTCFP announced the formation of a new affiliate, Reverse Mortgage Direct, LLC, RMD for short. RMD provides reverse mortgage
s to Americans 62 and up. The aim is to provide an alternative source of long term care funding for seniors who may not qualify for long term care insurance. Proceeds may also be used for other purposes, such a home improvement
; and the funds allow incapacitated seniors to live in their own homes longer. RMD's president is Josh Stephens.
LTCFP is the original founder and a co-sponsor of the “3 in 4 Need More
” campaign, which seeks to alert Americans to the long term healthcare crisis, and to multiply the number protected by long term care planning. The campaign is run by the 3in4 Association, a nonprofit that operates as a 501(c)(4) corporation. LTCFP spearheaded the association's creation and enlisted the support of insurance carriers, care providers, insurance agencies, and others concerned about the critical, growing need for extended care.
has selected LTCFP as one of of the nation’s 5000 fastest-growing companies. Among companies in the insurance industry, LTCFP regularly ranks among the top 40. The company appears to have no rivals for rapid growth among national insurance agencies specializing in long term care.
Kirkland, Washington
Kirkland is a city in King County, Washington, United States. It is a suburb of Seattle on the Eastside . The population was 48,787 at the 2010 census makes it the 9th largest city in King County and the 20th largest city in the state...
, Washington, is one of the largest long term care insurance
Long term care insurance
Long-term care insurance , an insurance product sold in the United States, United Kingdom and Canada, helps provide for the cost of long-term care beyond a predetermined period...
agencies in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. Its field is one of growing importance as millions of Baby Boomers
Baby boomer
A baby boomer is a person who was born during the demographic Post-World War II baby boom and who grew up during the period between 1946 and 1964. The term "baby boomer" is sometimes used in a cultural context. Therefore, it is impossible to achieve broad consensus of a precise definition, even...
reach retirement
Retirement
Retirement is the point where a person stops employment completely. A person may also semi-retire by reducing work hours.Many people choose to retire when they are eligible for private or public pension benefits, although some are forced to retire when physical conditions don't allow the person to...
age, and as health reform acknowledges the care needs of an aging population. The company also offers hybrid policies that combine long term care benefits with features of annuities
Annuity (US financial products)
In the United States an annuity contract is created when an insured party, usually an individual, pays a life insurance company a single premium that will later be distributed back to the insured party over time...
and life insurance
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
; long term care education; and reverse mortgage
Reverse mortgage
A remortgage is a form of equity release available in the United States. It is a loan available to seniors aged 62 or older, under a Federal program administered by HUD. It enables eligible homeowners to access a portion of their equity...
s.
Company background
LTCFP (in California, LTC Partners & Insurance Services, LLC) was founded in April, 2003 by Cameron Truesdell and Craig Smith. Cameron Truesdell was the president and a principal in LTC Inc., one of the early national agency firms for LTC insurance. Craig Smith held the position of national sales managerSales management
Sales management is a business discipline which is focused on the practical application of sales techniques and the management of a firm's sales operations. It is an important business function as net sales through the sale of products and servicess and resulting profit drive most commercial...
within the same firm. LTC Inc. was founded in 1985 and built the largest LTC insurance career force in the United States. LTC Inc. was later sold to GE Capital
GE Capital
GE Capital is the financial services unit of General Electric, one of five major units. Its various divisions include GE Capital Aviation Services, GE Capital Real Estate, GE Energy Financial Services and GE Money....
in 1997.
LTCFP claims to be the only producer and employee-owned national organization of long term care insurance specialists in the United States.
Serving the LTC insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
needs of consumer
Consumer
Consumer is a broad label for any individuals or households that use goods generated within the economy. The concept of a consumer occurs in different contexts, so that the usage and significance of the term may vary.-Economics and marketing:...
s as well as organizations, LTCFP also publishes LTC financing information, including Dignity for Life: Five Things You should Know Before Considering Long Term Care Insurance.
In 2006 LTCFP introduced a new tool for human resource
Human resource
human resource may stand for:* another name for an employee* human resources, another name for labor* Human resource management, the strategic approach to management of human resources* Human Resources , a Doctor Who audio drama...
managers, called the LTC Outreach and Education Program(TM) or LTCOEP(TM)for short. The aim is to help HR managers change their departments from cost centers to profit centers. The program does this by helping employees cope with the productivity-draining prospect of caring for family members, such as aging parents, who can no longer care for themselves. By freeing themselves from needing to provide care personally, employees regain the ability to focus on work. LTCOEP(TM) is available free to companies and non-profit organizations of all sizes.
In 2010 LTCFP announced the formation of a new affiliate, Reverse Mortgage Direct, LLC, RMD for short. RMD provides reverse mortgage
Reverse mortgage
A remortgage is a form of equity release available in the United States. It is a loan available to seniors aged 62 or older, under a Federal program administered by HUD. It enables eligible homeowners to access a portion of their equity...
s to Americans 62 and up. The aim is to provide an alternative source of long term care funding for seniors who may not qualify for long term care insurance. Proceeds may also be used for other purposes, such a home improvement
Home improvement
Home improvement, home renovation or remodeling is the process of renovating or making additions to one's home.-Types of home improvement:...
; and the funds allow incapacitated seniors to live in their own homes longer. RMD's president is Josh Stephens.
LTCFP is the original founder and a co-sponsor of the “3 in 4 Need More
3 in 4 Need More
"3 in 4 Need More" is an awareness campaign run by the non-profit 3in4 Association, a 501 corporation that seeks to inform Americans that health insurance isn’t enough...
” campaign, which seeks to alert Americans to the long term healthcare crisis, and to multiply the number protected by long term care planning. The campaign is run by the 3in4 Association, a nonprofit that operates as a 501(c)(4) corporation. LTCFP spearheaded the association's creation and enlisted the support of insurance carriers, care providers, insurance agencies, and others concerned about the critical, growing need for extended care.
Awards and recognition
For four years in a row, Inc. MagazineInc. (magazine)
Inc. magazine, founded in 1979 and based in New York City, is a monthly publication focused on growing companies. The magazine publishes an annual list of the 500 fastest-growing private companies in the U.S., the "Inc...
has selected LTCFP as one of of the nation’s 5000 fastest-growing companies. Among companies in the insurance industry, LTCFP regularly ranks among the top 40. The company appears to have no rivals for rapid growth among national insurance agencies specializing in long term care.