The National Underwriter has joined with a professional designation firm to certify financial advisors to sell Long Term Care Insurance Partnership policies.
NU, a unit of Highline Media Inc., Erlanger, Ky., has allied with the Corporation for Long Term Care Certification Inc., Newton, Mass., to provide training leading to certification to sell the policies.
Under federal legislation passed in 2005, consumers who buy partnership policies can retain a specified amount of assets if they ever need long term care, even after they exhaust their LTC policy, and still qualify for LTC benefits under Medicaid.
The legislation, the Deficit Reduction Act, requires insurers to attest that advisors selling LTC Partnership policies have completed 8 hours of qualified training. In addition, the National Association of Insurance Commissioners, Kansas City, Mo., has proposed that states permitting partnership policies require advisors to complete refresher training every 24 months.
The continuing education program created by NU and CLTCC, is available in online self-study and classroom formats.