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Southern Baptists to Care for Their Ministers Through New Long Term Care Program
KIRKLAND, Wash., June 16 (SEND2PRESS NEWSWIRE) -- Leading the charge for faith-based organizations, GuideStone Financial Resources of the Southern Baptist Convention will be offering LTC Financial Partners' (LTCFP) LTC Outreach and Education Program (LTCOEP(TM)) to any minister or employee who wishes to be educated about the risks of not planning for long term care costs. The program will attack a major healthcare issue: Over 60% of seniors over 65 will need some form of long term care, according to the U.S. Department of Health and Human Services; but most Americans, including ministers and church staff, are ill-prepared for the expense. The program will also cover the family members of the ministers, staff, and employees - important since long term care needs can come up for younger people as well as seniors, though at lower rates.  Long-term care costs can threaten the financial security and independence of individuals and their extended families, particularly if they are living on retirement income," says O. S. Hawkins, President of GuideStone Financial Resources. Operating as a church benefits board, GuideStone serves more than 190,000 participants worldwide including Southern Baptists and other evangelical churches, ministries and institutions. "Our ministers, church staff and ministry organization participants are not exempt from the devastating effects of long-term health care costs in retirement," Hawkins says. The help will consist of information and training, plus the opportunity to purchase insurance policies via their employer. "Through this arrangement," says Hawkins, "LTC Financial Partners will provide our participants and their families with comprehensive long term care education and access to discounted rates for MetLife long term care insurance plans offered via their employer." In addition, "Employees who apply for coverage and are actively at work may also qualify for simplified health underwriting for a limited time." The new long term care program, which may attract the attention of other religious organizations, is consistent with GuideStone's role in caring for those who care for America's 16 million-plus Southern Baptists. "As a part of our core mission of enhancing the financial security of those who GuideStone serves," says Hawkins, "we believe long term care education and access to quality insurance solutions will help our participants protect the retirement and investment savings they've work so hard to build." This move also represents a continuation of GuideStone's commitment to endorsing quality long term care solutions, he emphasizes. "GuideStone participants who currently have long term care insurance policies through previous endorsed relationships with other companies can continue to rest assured that they have stable, quality products." A phased implementation plan is already underway. Specific details about the program will be shared directly with GuideStone participants in stages. In addition to SBC ministers, church staff and their families, the program will also embrace employees of SBC's ministry organizations and their families. Well over 100,000 individuals will be eligible to participate. LTC Financial Partners, LLC, with offices nationwide, specializes in educating and empowering Americans about long term care issues. "We offer face-to-face or telephone counseling and advice to individuals and employers regarding their specific long term care financing needs," says Cameron Truesdell, CEO. "We also created the Long Term Care Outreach and Education Program(TM) (LTCOEP(TM)), which is offered to employees of corporations and non-profits." The organization -- found at www.ltcfp.com -- is committed to helping people live life fully and completely in dignity, comfort and independence without financial burden. MetLife has been at the forefront of helping Americans prepare for a more secure retirement and preparing for the future by offering a leading portfolio of long term care insurance products. The company offers a broad portfolio of comprehensive solutions and is committed to consumer education, making it uniquely positioned to meet the needs of GuideStone's constituents. Celebrating 140 years, MetLife is a subsidiary of MetLife, Inc. (NYSE: MET), a leading provider of insurance and financial services with operations throughout the United States and the Latin America, Europe, and Asia Pacific regions. Through its domestic and international subsidiaries and affiliates, MetLife, Inc. reaches more than 70 million customers around the world and MetLife is the largest life insurer in the United States (based on life insurance in-force). The MetLife companies offer life insurance, annuities, auto and home insurance, retail banking and other financial services to individuals, as well as group insurance, reinsurance, and retirement & savings products and services to corporations and other institutions. For more information, please visit www.metlife.com. All trademarks acknowledged.
NEWS SOURCE: LTC Financial Partners
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REFERENCES: Southern Baptists to Care for Their Ministers Through New Long Term Care Program, LTC Financial Partners, MetLife Inc, Long Term Care Outreach and Education Program, GuideStone Financial Resources of the Southern Baptist Convention, OS Hawkins, long term care financing needs, press release, Jun 16, 2008. |
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