Your essential guide to insurance
BY NOELLE KAUFFMAN, DIRECTOR OF SALES
Long-Term Care Insurance Is Asset Protection.
Find Out Why Long-Term Care Is Vital!
What is long-term care (LTC) insurance?
Long-term care insurance is designed to pay benefits for some of the expenses you may incur if you need supervision or assistance with basic activities of daily living (ADLs), including bathing, eating, continence, dressing, toileting, ambulating and transferring.
You may need this kind of help following an accident or illness such as a stroke – because of older age and frailty, or because you need supervision due to a cognitive disorder like Alzheimer’s disease.
Here’s why you need Long Term Care Insurance from the Club:
- Your premiums are conveniently deducted through your pension
- Affordable Club Member-only group rates
- Group rates are locked in at the age you apply
- Coverage is available to you, your spouse/domestic partner, parents and grandparents
- Available payout benefits range from $1,000 to $5,000 per month
- Your plan pays a monthly benefit directly to you, as opposed to most other programs that pay out on a reimbursement schedule
- Choose from four plans: 1) long-term care facility; 2) professional home care; 3) total home care; and 4) simple inflation protection.
- Available terms: four-year nursing facility/eight years in home. Also available: 10 year nursing facility/20 year in home (home care benefit pays out at 50 percent).
Do not wait. While you may be healthy today, a change in your health may decrease your chances of getting approved.
Schedule an appointment today with a Club Counselor, and be ready for your best retirement.
Long Term Care Insurance protects your assets and income from the costs of care.
According to a medically reviewed article from 2022, approximately 70 percent of seniors will need some type of long-term care.
Club Counselor Cheryl Martin offers a powerful presentation on the strong benefits of the Club’s Long-Term Care insurance throughout each month. She also presents it at the Club’s symposium and Retirement Plaque ceremony, held at the California Endowment. Here’s a testimonial she received from last month’s symposium.
LETTER FROM A CLUB MEMBER
I am writing to express my heartfelt congratulations on a job well done with the incredible Long-Term Care training and the awards ceremony. As the Member Services Counselor for the Employees Club, your exceptional leadership and dedication have truly shone through, making this training a remarkable success.
The Long-Term Care training that you organized was exceptional in every aspect. The information provided was invaluable, helping individuals who are close to retiring gain a deeper understanding of the challenges and opportunities that lie ahead. The effort and thoughtfulness you put into curating the training program truly made a difference in the lives of those fortunate enough to attend, myself included.
Cheryl, your commitment to creating meaningful experiences for the retiring members of our organization and the City of Los Angeles is truly commendable. You have displayed a profound understanding of their needs and have gone above and beyond to provide them with a memorable and enlightening occasion. Your leadership and dedication have left an indelible mark on everyone who attended.
Once again, I want to express my gratitude and admiration for your exceptional work. Your passion for ensuring a smooth transition into retirement for our colleagues is truly inspiring. I feel incredibly fortunate to have been a part of this event and to witness your exceptional leadership firsthand.
Congratulations, Cheryl, on a job exceptionally well done!
Det. Stan “Forever” Young,
Resources for Club Retirees or Those About to Retire
Sept. 6, 2023
Employees Club of California
LA City Employees’ Retirement System (LACERS) (City Dept.)
LADWP Retirees Association
Fire and Police Pensions (City Dept.)
LA Retired Fire and Police Association (LARFPA)
Retired Los Angeles City Employees, Inc. (RLACEI)
LACEA Insurance Services, Inc. (Employees Club of California) is a licensed insurance agency offering insurance benefits to qualified Club members. The Club’s CA DOI Lic. is #0B98000.
For ACTIVE MEMBERS
Are You Ready for Retirement?
Here are some current programs to help with your planning:
Learn about your retirement options and benefits at an upcoming Planning for Retirement webinar, hosted by the LACERS Member Engagement team. Register via your MyLACERS account. Upcoming dates include:
Sat., July 15 (in person)
Wed., July 26 (webinar)
Sat., Aug. 12 (in person)
Wed., Aug. 16 (Tier 3) (webinar)
Tues., Aug. 29 (webinar)
All webinars/events begin at 9 a.m.
Applying for Retirement Online
Members are encouraged to submit their retirement application 60 days before their retirement date when using LACERS’ new Retirement Application Portal (RAP). The RAP is a great asset to LACERS Members that helps to streamline the retirement process. While the filing period is within 30 to 60 days of your retirement date, starting your application early and submitting it on the first day you can at the 60-day-prior mark, will allow for a couple of benefits. These include having ample time to discover any complications and address them without having to move your retirement date, as well as ensuring LACERS staff has time to meet your retirement date request.
For example, if your desired retirement date is Sept. 23, 2023, you would have aimed to submit your retirement application in the portal on July 25, 2023. For more information, please visit lacers.org/applying-retirement.