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States Approve LifeSecure LTC Policy

By Trevor Thomas

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LifeSecure Insurance Company has obtained initial approvals for its Partnership program long term care insurance policies from 6 states.

LifeSecure, Brighton, Mich., has received authorizations to sell Partnership policies in Colorado, Florida, Nebraska, Ohio, Oregon and South Dakota, the company says.

The company says it is seeking additional approvals to participate in Partnership programs in other states.

States that offer Partnership programs allow consumers who purchase approved LTC policies to coordinate private LTC insurance benefits with Medicaid nursing home benefits. Consumers can keep assets with a value equal to the private LTC benefits and still qualify for Medicaid nursing home payment assistance.