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
Questions to Ask Your Clients
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
3/21/2023 03:46:43 pm
Long-term care insurance is an important consideration for many seniors and their families, especially with the rising costs of healthcare. As an insurance agent, it's important to use this month to discuss the importance of LTC coverage with your clients and assess their needs. By asking the right questions and exploring a range of policies from various carriers, you can help your clients make an informed decision that protects their financial well-being.
I totally agree when you said that the health costs for aging people are increasing for about 70% of those 65 years old and above. I wonder what would be the cost of going to an assisted living facility for my parents once they reach that age. And I wonder if they will also consider that if they have certain limitations they need professional help with, so I should probably talk to them about it.
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Carolyn Portanova is the Director of Marketing at The Brokerage Resource and has been with the firm since 2012.