The cost of long-term care is the greatest risk to even the strongest of retirement plans. Sylvia Group works with clients to develop a personalized solution that protects savings and provides retirement security.
Long-term care insurance (LTCi) pays for a wide array of care, personal assistance and social support services for people who are physically or mentally unable to independently care for themselves for an extended period. These range from assistance with daily activities to skilled care from nurses or therapists.
Our team of LTCi specialists has decades of experience in helping clients arrive at solutions through a process of education and collaboration. We work to help you achieve the peace of mind that comes from knowing you’ve considered all options and made a thoroughly informed choice.
In addition to our extensive portfolio of LTCi programs, our cutting-edge hybrid life and annuity products offer multipliers for long-term care protection. This allows for maximization of a self-insured position.
According to the Health Insurance Association of America, the average age at which people purchase long-term care insurance is 62. However, purchasing a policy at a younger age typically means policies’ premiums are much more affordable. While you may pay for a longer period of time, taking out a policy around age 50 allows you to enjoy the peace of mind in knowing that you are covered.
To help consumers perform a thorough assessment of when to purchase LTCi, what features and benefits to look for in a policy, and how to compare policies, the National Association of Insurance Commissioners (NAIC) has compiled a comprehensive and highly recommended resource: "A Shopper's Guide to Long-Term Care Insurance."
To view the downloadable NAIC guide, click on the image at right.
For employers, LTCi provides a low-cost — and potentially no-cost — tax-friendly option to offer in a benefits package that will attract and retain talent without breaking the company budget.
LTCi can be an attractive, premium benefit offered exclusively to key employees and their families or to all employees, their spouses and their adult children. This may be especially attractive when you consider that non-employed spouses can’t get disability income insurance but can get tax-favored LTCi.
Adding to the appeal is the savings employees can enjoy by purchasing Long-Term Care Insurance through their wokplace. In most states, group LTCi plans offered by employers receive a discount of 15-25 percent on average. After- tax savings can approach 50 percent compared to buying outside the workplace.
Greater workplace participation in an employer-sponsored LTCi plan If at least 10 employees buy LTCi, simplified health evidence can speed the process and reduce concern that an employee might be declined. And with Life Insurance/LTCi combinations, guaranteed issue may apply, further increasing the number of employees who would be interested.
“I come in contact with many insurance brokers in the course of my practice – even more so with the advent of the Affordable Care Act requirements. Some are ill-prepared or still in denial. Others call me from the car on the way to a client meeting asking for a summary of the ACA in ten minutes. On the flip side of this coin is the Sylvia Group agency. Their clients are very fortunate to have a broker who is knowledgeable about employee benefit matters. The fact that Sylvia Group invited me, an ERISA lawyer, to conduct a live client seminar on the new ACA employer information reporting requirements indicates to me that they are engaged in the process and they care about their clients.”
– RICHARD A. SZCZEBAK, Esq., RAS Law, P.C.
“By giving, advocating and volunteering, Sylvia Group has proven they are dedicated to our community. Whether they are volunteering at one of our Day of Caring events or working with us to provide affordable health insurance and benefits to our employees, Sylvia Group does whatever they can do to make a difference for United Way of Greater New Bedford. The team at Sylvia Group is a trusted group of dedicated professionals, and we thoroughly enjoy working with them.”
– MICHELLE N. HANTMAN, President and CEO, United Way of Greater New Bedford
“Sylvia Group is very responsive to our ever-changing needs. Jill White provided us with wonderful support when we moved our child-care program location. She ensured that our coverage was seamless and that it met all of our program, licensing and funding needs. Sylvia Group always assists us immediately when we have questions and/or requests. We know we are in good hands and that they have the best interest of our YWCA participants in mind. It's a pleasure to work with the staff of Sylvia Group; they are truly customer-focused.”
– GAIL FORTES, Executive Director, YWCA Southeastern Massachusetts
“Thanks to John Beauregard and the professionals at Sylvia Group, our MassMEDIC membership has paid immediate dividends. Through the BIO Business Solutions® program, Primo Medical received a significant premium reduction on our Professional Liability policy. In addition, utilizing Chubb as our insurance provider and Sylvia Group as our broker, we’re confident that we have business partners who truly understand our insurance needs, provide outstanding loss control services and continue to work with us to lower our total cost of risk.”
– CHRISTOPHER LAPLANTE, Chief Financial Officer, Primo Medical Group
"Getting the right insurance to guard against risks is absolutely critical for nonprofits, as well as other businesses; dealing with a costly claim could force a nonprofit to shut down permanently. Going with the Sylvia Group, we made the right decision and have never looked back. They have a thorough knowledge of nonprofits, where risks can oftentimes be more complex. They have gotten to know our mix of services, evaluated our insurance needs and designed an insurance program around our specific insurance coverage needs — allowing us, on a tight budget, to purchase the right amount and type of insurance at the best value. Sylvia Group staff have built strong, personalized helping relationships with our staff. I can sleep at night knowing they make sure that our insurance policies are adequate to cover our risk exposures. I have recommended, without hesitation, the Sylvia Group to my colleagues working in both the nonprofit and for-profit arenas."
- MARIA A. ROSARIO, Executive Director, NorthStar Learning Centers, Inc.
“Sylvia Group is an attentive, professional and knowledgeable insurance agency. They are familiar with the ever-changing rules and regulations when it comes to independent, nonprofit schools., and John Beauregard always goes above and beyond for Friends Academy. Whether it is something small, like registering a new school vehicle, or something bigger, like filing a claim after our greenhouse was destroyed by a hurricane, he treats every question and every claim with utmost importance. Sylvia Group is invested in our program as well; John sponsors and participates in our yearly golf tournament. Sylvia Group is an exceptional insurance company that I would recommend to all my cohorts.”
– KATHERINE FURTADO, Chief Financial Officer, Friends Academy
“The Sylvia Group team provides a multitude of services in all aspects of employee benefits. The team's dedication to their clientele is apparent through their willingness to provide trainings in your office, at their business and through valuable webinar resources. They are readily available to answer questions and help with any issues that may arise. CMHS, Inc. appreciates the relationship that we have enjoyed with the Sylvia Group throughout the years.”
– JOHN WINTERHALTER, President, Comprehensive Mental Health Systems, Inc.
“I want to thank you for this incredible resource, ThinkHR. We will be accessing it frequently and appreciate Sylvia Group making this available to Advanced Eye Centers.”
- PAUL C. ABRANTES, Executive Director, Advanced Eye Centers
“I love your staff. In the first three or four weeks after we moved over to Sylvia Group for our insurance, I have had more communication and attention from them than I had in the seven or eight years we were with our former agency! You have a great team.”
– PAT CASSAN, Ocean Explorium
“I just wanted to take the time to recognize what a remarkable job Danielle Andre is doing. I cannot thank her enough for her time, her kindness and her willingness to make sure I’m comfortable with all the necessary changes that occurred from an insurance standpoint. As a whole, every Sylvia Group staff member has been friendly and knowledgeable, but Danielle has certainly gone above and beyond for me.”
– SHANNON S., Personal Insurance client
“I so appreciate Julie Jennings' help with Medicare planning. It is a relief to be able to consult with a knowledgeable professional on insurance issues. I have no idea how people do this without such help.”
– CHRIS BLACK, Personal Insurance client
“Working with Sylvia Group over recent years has taken our insurance issues from 'groans and moans' to 'no problem.' Rose Lopes, our Account Manager, is one of the most responsive people I have ever worked with. She responds immediately to questions or special requests. It is such a pleasure to work with Rose, who does whatever it takes to find a solution to our needs. We are very pleased… She always has our interests in mind.”
– LYNNE FOLEY, Director of Human Resources, Five Star Companies, Inc.
“Sylvia Group is an attentive, professional and knowledgeable insurance agency. They are familiar with the ever-changing rules and regulations when it comes to independent, nonprofit schools, and John Beauregard always goes above and beyond for Friends Academy. Whether it is something small, like registering a new school vehicle, or something bigger, like filing a claim after our greenhouse was destroyed by a hurricane, he treats every question and every claim with utmost importance. Sylvia Group is an exceptional insurance agency that I would recommend to all my cohorts.” - KATHERINE FURTADO, Chief Financial Officer, Friends Academy
"Sylvia Group is by far the best insurance agency I have ever dealt with, both personally and in my business. They provide customer support that is not found in other agencies. For example, they take a personal interest in their clients, calls are always taken or returned immediately, and during reviews suggestions are made to offer the most cost effective and comprehensive coverage. When claims occur, they have always been there to facilitate the process. It has truly been a pleasure to have them represent me in my insurance needs."
- WILLIAM N. WHELAN, Chairman, Whelan Associates LLC