Long-Term Care Insurance

Currently, LSU System partners with UNUM to provide Long Term Care on a policy-year basis (July 1st-June 30th).

Long Term Care (LTC) insurance is important for people of all ages if they want to preserve financial security and independence in the event of an extended disability.  And despite popular misconceptions, the need for longer-term care isn’t restricted to the elderly, because many working-age adults have disabling injuries and illnesses as well:

  • More than half of long term care claims submitted to Unum are for people under age 65.  The average age for those claimants is 54.1
  • 20 million Americans are expected to need long term care services by 2030.2
  • The demand for long term care services is projected to double by 2040.3
  • Because women generally outlive men by several years, they face a 50 percent greater likelihood than men of entering a nursing home after age 65.4

Who Can I Cover?  Employees, retirees, your spouse, your parents and/or grandparents and your spouse’s parents and/or grandparents may enroll in this plan.  Coverage for retirees, your parents or grandparents is contingent upon them completing an Evidence of Insurability application and being approved by underwriting.

Americans who need long-term care have more choices today.  Many are able to remain in their homes and still receive the care they need.

For Additional Information Please visit www.imala.com/lsu/ and click on the LSU Employees button. There you can access enrollment forms, rate information, certificates, and Long Term Care calculator, as well as additional information.

Click here for UNUM Plan Document

1 Unum internal data from 2006 inforce block of nearly 1 million policyholders, October 2007.
2 “Long Term Care Financing: Are Americans Prepared?”  Testimony before the U.S. Senate Special Committee on Aging, March 9, 2006.  And, the American Association for Long Term Care Insurance, “2008 LTCI Sourcebook,” February 2008
3 RTI International, “The NIC Compendium Project: A Guide to Long-Term Care Projection and Simulation Models,” April 2008.
4 HIAA, “Guide to Long-Term Care Insurance,”©2002
5, 6, 7 Georgetown University, Long Term Care Financing Project, “National Spending for Long-Term Care Fact Sheet,” January 2007