It's Long-term Care Awareness Month. What Are you Doing to Prepare Your Clients?

Long-term Care Insurance
​November is LTC Awareness month. This is the opportune time to ask your clients about additional insurance needs. You’re already assisting them with their Medicare Supplement and Medicare Advantage policies, as it’s still AEP, but exploring other needs to assist your clients is imperative.

​Who Will Benefit from Having Coverage? 
Medicare alone only provides skilled nursing for long-term care; therefore, offering your clients additional coverage to protect their assets is something they can only benefit from.  As we age, our health costs increase and 70% of people 65 and over will require long-term care services.  Many seniors feel they can rely on family members to cover health expenses, and this is not a recommended solution.  The average cost of a nursing home facility is $85,000/year. If your clients can afford a policy, it’s something they should invest in. ​​​

---

Current Average Costs

Home Health Care
$22/hour

Assisted Living Facility
​$4,245/month

Nursing Home
​$85,048/year

---

Questions to Ask Your Clients

• How much can your client contribute comfortably to the cost of their care?
• How much will they need their policy to pay in benefits each month?
• How much time can they wait until their policy begins paying out benefits (do they have substantial savings to fall back on)?
• ​How much risk is your client willing to assume?

Carriers We Represent
Mutual of Omaha, Genworth, North American, MedAmerica, John Hancock and Transamerica are just a handful of the carriers we represent who offer a range of long-term care solutions.  We can guide you and assist you with the multitude of policies out there, and can recommend the best solution depending upon your clients’ needs.

By Carolyn Portanova

---