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LTC Consultants Completes Employee Education Effort for Federal Long-Term Care Insurance Program

Nashville, TN - December 19, 2002 - LTC Consultants has completed 2020 employee education seminars for the Federal Long-Term Care Insurance Program (FLTCIP) in 210 cities in 43 states, including Hawaii, in front of 88,499 attendees. LTC Consultants was contracted by LTC Partners, a new company formed by MetLife and John Hancock to serve the long-term care insurance needs of the FLTCIP, which is being offered to active and retired civilians, military and postal workers and their families – a universe of about 20 million people.

LTC Consultants was responsible for delivering at least 2000 employee education meetings during Open Season (July 1 – December 31, 2002) in addition to producing an employee education video and webinar. In addition, the 500-person calling center for the Federal program completed LTCUniversity.com, the web-based LTCI training program introduced by LTC Consultants in 2002.

Results to date have been remarkable with higher than expected revenues, which can be partially attributable to 63% of the enrollees purchasing compound inflation vs. 22% in the entire LTCI market per HIAA. The importance of this feature was emphasized in both the employee education effort and the training of the LTC Partners’ calling center.

Phyllis Shelton, President of LTC Consultants, says “This has certainly been the Moby Dick of my 25-year insurance career, and by doing a really good job spreading the word throughout the country for the Federal program, I know many more Americans will buy long-term care insurance in 2003!” A team of 17 Presenters, whom Ms. Shelton refers to as “Federal Navy Seals”, delivered the employee education seminars, in addition to herself. Ms. Shelton recruited these individuals from the insurance industry and all were licensed insurance agents with long-term care insurance experience.

Extended family members eligible for the FLTCIP are parents and in-laws of active employees and adult children ages 18 and up of active employees and retirees. Surviving spouses receiving a survivor annuity are also eligible in addition to persons receiving compensation payments from the Department of Labor and members of the Selected Reserve and active duty National Guard. Active employees and spouses had abbreviated underwriting until 12/31/02 but can apply after that date with full underwriting. All applicants had an age freeze of 7/1/02 until 12/31/02. For more information on the Federal program, go to www.LTCFEDS.com.

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