This startup provides long-term care insurance that integrates life insurance with coverage tailored to various life stages, from family planning to retirement. Their platform enables users to manage policies, track performance, and file claims, addressing the lack of comprehensive coverage options in the market.
Funding
$15.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals lack comprehensive financial solutions that address both life insurance needs and the potential costs associated with long-term care as they age. Traditional insurance products often treat these as separate concerns, leading to fragmented coverage and potential gaps in financial security during different life stages.
Solution
Reframe Financial offers LifeStage, an indexed universal life insurance product that integrates life insurance with long-term care benefits, providing a unified solution designed to evolve with the policyholder's changing needs. This approach combines financial protection for families with cash value accumulation and coverage for care typically needed later in life. The product is managed through a streamlined digital platform, enabling users to easily access policy information, track performance, make changes, and file claims. Reframe LifeStage also includes a Family Caregiver Support benefit, offering resources and assistance to navigate the complexities of long-term care for loved ones.
Target Audience
Reframe Financial targets employers and associations seeking to offer comprehensive and adaptable benefits to their employees or members, particularly those in the Gen X and Millennial demographics who are concerned about both family protection and future long-term care needs.
Features
- Indexed Universal Life Insurance: Provides life insurance coverage with the potential for cash value growth over time.
- Long-Term Care Benefits: Offers cash indemnity benefits for long-term care expenses, providing flexibility and control over care options.
- Cash Value Accumulation: Generates supplemental savings that can be used at any time for any purpose.
- Digital Platform: A user-friendly online platform for policy management, performance tracking, and claims processing.
- Family Caregiver Support: Provides access to a caregiver assessment tool, concierge services, a care connection database, and an education center.
- Streamlined Underwriting: Proprietary platform delivers efficient online application and digitally-driven underwriting decisions.
- Portability: Coverage stays with the client, for life, regardless of employment status.