LTCI for Affinity Groups
Americans belong to groups of many types, such as local property owners associations, credit unions, civic organizations, religious organizations, statewide professional organizations, travel clubs, and national or international associations and organizations. These types of organizations may seek to sponsor or provide access to services or benefits to their members. Long-term care insurance is one of the more popular affinity benefits sponsored by organizations and groups.
Affinity Group Discounted Programs give group members a true value for their participation in the organization. Not only do members receive a discount on the long-term care insurance product they select, but that discount is also specifically due to their participation in the group's program. Sponsoring an LTCI affinity group program also distinguishes the organization as sponsoring the very finest and most timely benefits for members.
Approval Guidelines for a Long Term Care Insurance Affinity Group
Here are some questions that will help to determine whether offering a long term care insurance affinity program is appropriate for group members:
- Is this a bona fide organization? Was it formed for purposes other than to receive discounts or product advantages based purely on an aggregation of individuals?
- Does the program provide access to customers that are distinct from general population groups?
- Do the demographics allow for meaningful penetration of the group?
- Does the marketing plan show that both management and resources are in place to support a professional and successful solicitation of the group?
- Does the affinity group endorsement add to the program as the group sponsor?
- Is the group local enough in geographic terms to assure appropriate marketing control?
