Protection Products

How Much LTC Insurance Really Costs


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Yes, long-term care insurance CAN be expensive. My first reaction when someone says this to me is to ask how long they waited to buy it (see previous post). Because, of course, too many people wait until they’re older and have more health considerations for underwriting. Which, of course, ups the price.

This isn’t car insurance or home owner’s insurance. Actually, don’t think of it as insurance at all – think of it as another asset, or income protection. Your client pays a company a set amount of money, and in return they get access to a larger pool of money should they need it. Oh, and that money (when used for long-term care) is income tax free. It’s going to be there for your clients when they need it.

In some cases, the financial return of long-term care insurance is pretty hard to beat. More importantly, the emotional return for your clients and their families is priceless.

Just Ask

Talk to your clients and ask:

  • Are the assets you’ve earmarked for emergencies getting a high rate of return?
  • Does your portfolio have enough liquid assets to be able to withdraw funds quickly?
  • Would you be upset if your portfolio balance was depleted to pay for long-term care?

Some people ask, “What if I never need it?” First of all, then you’re one of the lucky ones. Second, that money doesn’t go to waste – in many cases, it can pass on to your heirs. But, trust me, your children and grandchildren would rather you have a plan for care than a plan to give then an inheritance. The cost of NOT having a plan and having an event is much, much higher than what you would have spent on insurance.

Keep Talking

This isn’t the end of our discussion. Let’s keep talking long-term care.

For more ideas on approaching the conversation, download your free long-term care discussion guide.

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And, if you haven’t already, sign up for our free educational email series on long-term care.

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2 Laws of Long-Term Care Planning


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You put long-term care at the bottom of your client agenda – again. You avoided it. You decided, “It can wait.” But can it really? Or, more importantly, what are the costs of waiting?

There’s a lot of change in the long-term care market, but two facts will always be certain:

  1. Insurance will cost more the longer you wait to apply
  2. As you age, your health will change – and usually not for the better

The best time to create a plan isn’t 60 or 70. It’s actually 40 or 50. In fact, the average buyer is in their mid-50s. These clients are seeing their parents deal with extended care and it’s front of mind. They don’t want to pass that burden to their own children.

Just Ask

Don’t wait. Here are some questions to ask at your next client meeting:

  • Have you thought about the savings potential of buying a plan while rates are low?
  • How would your family be impacted if something were to happen to you today?
  • Would it give you peace of mind to have a plan in place, just in case?

Keep Talking

We’ve discussed nearly all of the most common client concerns when it comes to discussing long-term care

For more ideas on approaching the conversation, download your free long-term care discussion guide.

Download Now

And, if you haven’t already, sign up for our free educational email series on long-term care.

Sign Up Here

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Don’t Call Yourself a Retirement Planner if You Don’t Address Long-Term Care


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People have the tendency to look at retirement and long-term care as two separate issues. Why? Because they tend to look at long-term care as a place – a nursing home, assisted living, retirement community, etc. But it’s more of an event – an event that could wipe out your clients’ retirement savings.

I would argue that the largest risk to a retirement plan is a long-term care event. So you can’t call yourself a retirement planner if you’re not addressing this risk. You need to put the pieces together.

In a webinar I did with Tim Ash, we used our software to literally show the impact a care event will have on retirement plans. It’s astounding. The good news? This software can also help show the impact you can make by having a plan in place.

Just Ask

After you watch the webinar, consider asking your clients a few questions during your next retirement planning appointment:

  • Have you considered the tax consequences of liquidating an asset for an emergency?
  • Are you aware most policies include care coordination to help with a written plan of action?
  • Can the returns you get from today’s assets really outperform the leverage of an insurance policy?

Keep Talking

Yes, you have plenty to talk about during your client meetings. And you might feel like you don’t have time to add one more item to the agenda. Stop looking at long-term care as a separate issue. If you do nothing to address it, it’s a big risk to your clients’ portfolio.

For more ideas on approaching the conversation, download your free long-term care discussion guide.

Download Now

And, if you haven’t already, sign up for our free educational email series on long-term care.

Sign Up Here

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How to Talk about the M-Words: Medicare and Medicaid


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If your clients bring up Medicare or Medicaid as their fallback option for long-term care, make sure they truly understand what they’re getting into. Actually, make sure YOU understand what they’re getting into if they choose to rely on these programs.

Medicare: Short-term rehabilitative care. To qualify, you must spend three nights in a hospital and be deemed rehabilitative. Only the first 20 days are covered in full. Your client will pay a copay for days 21-100. After that? They’re on their own.

Medicaid: A federally funded, state-run welfare program for the impoverished. This won’t cover assisted living or in-home care. This is for nursing homes. Chances are, that’s not your clients first choice.

Just Ask:

Help clear up any misconceptions about Medicare and Medicaid. Ask your clients:

  • Do you expect the government to pay for care for an extended period?
  • Do you understand the limitations of Medicare and Medicaid?
  • Is having control over your options important to you?
  • Do you want to have any assets left?

Planning gives your clients the freedom and independence to get care in the place that’s going to make them the most comfortable. As opposed to the government saying, “This is where you’re going to go.”

Keep Talking

The M-Words are just one piece of the long-term care discussion.

For more ideas on approaching the conversation, download your free long-term care discussion guide.

Download Now

And, if you haven’t already, sign up for our free educational email series on long-term care.

Sign Up Here

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Good News: Long-Term Care Does Pay


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I’m no journalist, but I can tell you one thing about news: Bad news is almost always front-page news. I’m not even going to touch fake news – that’s beyond my professional expertise. But I do know a thing or two about long-term care … and our industry was hit by some pretty bad headlines in the past. 

If your clients ask about the stories they heard a few years ago, you don’t have to beat around the bush. Yes, carriers had trouble paying claims. Many of them are no longer in the business for that reason alone.

Since those stories broke, the insurance industry stepped up and fixed many of its problems in the long-term care market. Today’s carriers want to help clients pay claims – they even offer concierge service to make sure it happens. The government also stepped in and added a layer of accountability with regulations and standards.

Just Ask

Address the issue head-on. Ask your clients:

  • What have you seen or heard about long-term care in the news?
  • Which concerns you more: your coverage running out or the insurance company not paying?
  • Do you know someone whose coverage ran out?

Keep Talking

Today’s long-term care insurance is better than ever. If you want to know more about the best carriers and products available, call your team at Ash Brokerage. We’re ready to help you and your clients asses the options.

For more ideas on approaching the conversation, download your free long-term care discussion guide.

Download Now

And, if you haven’t already, sign up for our free educational email series on long-term care.

Sign Up Here

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