5 Things You May Not Have Known About Long Term Care Insurance

Presented by Michelle Daharsh

November is Long Term Care Awareness month, so ask yourself, “what do you know about long term care insurance?”

Unfortunately, some of our clients and prospects hold certain misconceptions or may even have an unfavorable opinion of long term care insurance, largely stemming from issues related to its early days of limited benefits or the seemingly endless round of rate increases. There isn’t much we can do about the economy that seems to drive the rate increases, but we can discuss the myriad of options that focus on flexible long term care solutions. A long term care plan built the right way just might slow the risk of future rate increases. Let’s take a look at what is available in long term care insurance today.

1. The client decides where care is received. One of the most common myths is that long term care insurance only provides nursing home care, (that is so 1980) and nothing is further from the truth. Coverage today provides home care for those who prefer to remain in their home and have care brought to them. Other options of care can be adult day care centers, assisted living facilities and hospice centers.

2. Benefits can be flexible. In addition to options for where care is received, most long term care insurance policies offer greater flexibility in the types of services available, such as home modifications like installing grab bars or a wheelchair ramp to help you stay at home longer and safer. Meal preparation, errand services, and respite care are all now common benefits found in today’s products.

3. It supports family caregivers. Long term care insurance recognizes the important role family caregivers play in long term care. The vast majority of care being provided today is done by family members. Benefit options make it easier for families to care for their loved ones right in their own home. Most policies provide caregiver training for family members, which helps ensure care recipients are getting the best care possible.

4. It offers Shared Coverage for couples. Many long term care insurance policies offer an optional benefit rider commonly known as “shared care,” which allows couples to share their coverage and maximize their benefits while keeping the cost of coverage lower. This provides couples with peace of mind knowing that their coverage will be there if care is needed for longer than expected, and it is not a benefit that is lost if one of the insureds passes away. Remaining benefits are transferred to the surviving spouse or partner.

5. It’s not “just for older people.” While it’s a critical part of retirement planning and important protection for later years, the younger the clients are when they apply for long term care insurance, the better. Age and health are two of the most important factors when applying for coverage, so applying at a younger age will help make it more affordable, and likely more insurable from a health perspective.

With November being Long Term Care Awareness Month, I encourage you to learn more about long term care insurance and why it’s a critical piece of retirement planning for your client. Your clients just might be glad you did.

November is Long Term Care Awareness Month

Presented by Tim Dreher

The month of November is Long Term Care Awareness month and as we move into the holiday season, now may be an opportune time to begin that LTC conversation that you’ve been putting off with your clients! This is a time of the year when many families gather together to celebrate the season so what better time to encourage your clients and their families (especially your client’s children) to have “the talk”.

Industry studies have shown that only about 10% of consumers have had a conversation with their parents or in-laws regarding long term care. Tell them not to wait until it’s too late just because it is a somewhat uncomfortable conversation to have. Most parents don’t like the idea of needing help from their children when they have spent their entire adult lives raising and taking care of their kids. That possible role reversal can be very difficult for a parent to accept. Although the conversation may be difficult, it could also be one of the most important conversations spouses could have with each other, children could have with their parents, and you as their advisor could have with them.

That’s where you, as the agent and advisor, come in. Remind them that they need to talk about not only how and where they would like to receive care, but also, and just as important, who is going to provide that care, and most importantly, how will it be paid for. By doing so, they are preserving the legacy they have worked so hard to protect. Having a plan in place should a long term care event occur goes a long way to alleviate much of the worry that can come with an uncertain future. There is a great amount of misinformation and misunderstanding regarding available long term care services and it’s your job to be there for them as a source of correct information and advice. The time to discuss, prepare and plan with your clients is now, not waiting until a long term care event arises and a family is forced to make many decisions that could be very costly.

Take this holiday season to have the “talk” with your clients so they in turn can have an informed discussion with their family. Both you and your client will be glad the conversation happened.

Life Insurance Awareness Month

Presented by Jim Linn

September 1, 2015, does not just mark the start of a new month.  It kicks off Life Insurance Awareness Month (LIAM).  Each year the LifeHappens.org foundation presents a new spokesperson and featured articles you can use with your clients and prospects.  Below is a link to a short video by Anthony Anderson, this year’s spokesperson.  Additional marketing materials and videos are available on their website. 


June is National Annuity Awareness Month

Presented by Richard Mangiameli

The retirement landscape in the United States is ever-changing.  Individuals are living longer, working longer and needing income longer.  Currently, more than 10,000 baby-boomers on the average are turning 65 each day and tasked with identifying how to plan financially for their golden years.  Beyond this generation, younger adults are looking for ways to protect their assets, while enjoying some of the market’s upside potential.

All of these reasons and more, signify the prominent need for increased awareness and understanding of annuities.  These powerful products aren’t what they used to be; rather, annuities are becoming a staple in retirement plans for young and old alike.

Market volatility, the demise of traditional pensions and the uncertainty of government assistance programs like Social Security and rising life expectancies are all part of today’s retirement planning.   Annuities can provide stability and asset protection. They are the one product that can provide a retiree an income they cannot out-live.

Make the month of June your mission to educate your clients and prospects on the Features and Benefits of Annuities today.  Please click on the link below to read about AnnuRetirement.


Emphasizing Disability Income Awareness is more than just One Month out of the Year

Presented by Leonard Berthelsen

May is designated as Disability Income Awareness month and much of the focus is given to presenting, selling and educating clients during the month.  Let’s take that sharp focus from May and extend it throughout the year.

Your client’s need for protection is there throughout the year, not just in a one month ad campaign.  Sickness and accidents aren’t just confined to one month but are present all year long.

Disability Income protection should be at the forefront of every discussion with our clients to talk about their exposure and how you can reduce the risk.  Why, because all the other “stuff” that we talk about, sell or convince a client to buy becomes secondary if they can’t afford to continue paying the premiums when they become disabled.

We write many times in these blogs about theory and process but rarely about how the personal side of things affects our loved ones.  Let me share a quick story with you about one of those personal issues.

A 37 year old man was having lunch with his 3 year old daughter at her daycare when he became flushed and dizzy.  Making it through the lunch he returned to his car with the air conditioner on to cool off.  A passer-by tapped on his car window to see if he was okay, he had passed out.

This 37 year old man had just suffered a stroke.  The quick and smart thinking of a passer-by probably saved his life.  In intensive care, he was informed that most likely he had a small clot that entered his brain.  With medication and some intense physical and occupational therapy, he will gain full control of his arm once again.  Who would be concerned of this happening at this age?  We never know when, where or why, but disabilities happen all the time to all kinds of people.

Having the right protection can and will make all the difference in the world.  Just make sure that your clients are protected.

Oh, by the way, this 37 year old man is my son.  Yes, he did have Disability Income Protection!