Why Women May Be The Answer To Your LTCi Sales
With 70% of people over the age of 65 requiring assistance due to physical or cognitive impairments, and women’s life expectancy being 83.1 years, they have a higher chance of needing long-term care.
With 70% of people over the age of 65 requiring assistance due to physical or cognitive impairments, and women’s life expectancy being 83.1 years, they have a higher chance of needing long-term care.
For those exceptionally competitive clients, who are looking for a successful outcome in all scenarios, a Linked Benefit solution is the perfect fit.
But to be successful, it’s critical to understand their unique needs and concerns around buying coverage.
Do your clients have money that could be better used to help them plan ahead for the risk of a future extended health care need?
Good news – Asset Based Long-Term Care (LTC) with Guaranteed Premiums paid for life is here.
Have clients over 70 sitting on nonqualified assets but can’t qualify — or don’t want to pay — for traditional LTC insurance? You’ve got a powerful option: Hybrid Long-Term Care Annuities.
The fastest-growing population segment is adults 85+, yet most aren’t financially prepared for a long-term care event. Traditional LTC insurance is often too expensive, too hard to qualify for, or simply rejected by clients who assume they’ll never need it.
But here’s the win: many of these same clients do have nonqualified assets they don’t plan to touch. That’s where you come in.
Nonqualified annuities offer tax-deferred growth—great for retirement, but painful if liquidated for care expenses due to taxes and fees.
Thanks to the Pension Protection Act, hybrid LTC annuities funded with nonqualified dollars allow clients to access LTC benefits tax-free. No penalties. No income tax hit. And if LTC isn’t needed? The remaining value goes to their beneficiaries.
Don’t let these opportunities sit idle. Contact your LTC Specialists today to help your clients turn dormant assets into living benefits.
With women living longer, and providing more caregiver services, they become more vulnerable to long-term care issues.
The annual financial review is a great time to discuss changes that may have occurred over the past year, and proactively plan in anticipation of events that may impact the success of meeting set goals.
While health and long-term care insurance differ in services that they provide, we believe that home care benefits are very important.