Long Term Care and Disability Insurance

Long Term Care Concerns

Presented by Michelle Daharsh Not many people really ever want to think that they will need long term care services because it is not a pleasant thought. Having to rely on someone else because we became frail or our cognitive ability has slowed are certainly not things that we look forward to. According to the 2015 Medicare & You, Centers for Medicare & Medicaid Services, 70% of people over the age of 65 will need long term care services and support at some point in their life. Sort of an ominous fact, don’t you think? Ask your client this simple question: “What is your greatest concern when it comes to long term care?” This question will be sure to stir up answers ranging from not having to rely on their family for care, or staying in their home as long as possible, or they hear it is awfully expensive. Maybe their concern is protecting the legacy that they worked so hard to build over the years? Regardless of the answer, the end result is most likely all the same – if a long term care event occurs and they don’t have long term care insurance in place, all of these concerns can, and likely will, be exposed. Being able to uncover your clients’ concerns for long term care puts you, as the agent, in a position to educate them on what protection it does provide. Not only does long term care insurance provide care for the client, but it also protects the family, their home and their legacy. Show your clients the need for long term care insurance first – ask them questions, assess their situation, and help them understand their options. Doing this will give them the peace of mind that their biggest concerns are protected and making the purchase of long term care insurance a much easier decision.
Long Term Care and Disability Insurance

Does long term care insurance really matter?

Presented by Leonard Berthelsen A lot of agents and producers over the years may have asked that question of themselves as rates have gone up, underwriting has gotten stricter and consumer reluctance has increased. Regardless of what rates the carriers have settled on, it’s still pennies on the dollar of what care actually costs.  There has to be a value proposition that the producer brings to the table for that client and that is educating the client.
  • Are they aware of the exposure that their estate is currently in, to the devastation that a lengthy long term care event might cause?
  • Will family and/or friends be able or willing to provide on-going and lengthy assistance?
  • Government assistance in long term care is getting more difficult to qualify for with any thought of being able to retain assets.
  • Is it their desire to remain independent as long as possible in their own home?
If your prospect or client plans to pass onto their heirs or leave an estate for children or loved ones, then the long term care conversation needs to occur. Two things to remember, “You can’t sell it if you don’t talk about it”, and “if you don’t talk about it with your prospect or client, someone else will.”