A Los Angeles-based startup will market a life insurance-based long-term care hybrid through worksites and through associations.
Reframe Financial hopes to appeal to workers with a modern sales process and a benefits package that includes caregiver support features, CEO Karan Aneja said.
Federal Life Insurance Company of Riverwoods, Illinois, is writing the Reframe LifeStage life-LTC program insurance. Swiss Re will reinsure the coverage.
What It Means
Companies are still looking for ways to protect your clients against long-term care risk.
The Company
Aneja, Reframe's co-founder, helped found and manage Vetted PetCare, a home pet care company in the Los Angeles area, from 2015 through 2020. He started Reframe in 2020.
Loida Abraham, a former Genworth Financial long-term care actuary, became Reframe's chief commercial officer around the same time,
Allianz Life's venture capital arm has Reframe on its portfolio company page.
The Product
The LifeStage product is based on a flexible-premium indexed universal life insurance policy, with a feature that can accelerate the payment of the death benefit for insureds who need care.