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Protecting Those Who Care For Others

Women often try to find the right balance between juggling careers, spending time with family, and caring for loved ones.

With women living longer, and providing more caregiver services, they become more vulnerable to long-term care issues.

Now is the perfect time to increase your focus on existing and potential female prospects to expand your LTC Insurance business.
 
How You Can Help
 
Women may spend their entire lives taking care of other people. You can help them create strategies to plan for their future and help protect their retirement assets. An LTC Insurance policy can help protect their assets and help them maintain independence in the future.
 
To increase your reach and help your female clients take the first step to long-term care planning, consider these scenarios:
  • Married Couples: Husbands often need care first, leaving less assets for the wife to use for her own care. Review your clients’ long-term goals to ensure both parties have a care plan for the future.
  • Same-Sex Couples: Current financial planning rules can make it tricky to access a partner’s assets when care is needed. Help your clients design a plan to share each other’s benefit dollars.
  • Widowed/Divorced: When a woman becomes divorced or widowed and has no children, there may be no one to take care of her. Almost 70% of women age 75 or older are widowed, divorced, or never married, compared to only about 30% of men. Explain to your female prospects the value of Long-Term Care planning and how a policy can help them protect their future.
  • Adult Children of Aging Parents: In helping adult children with their own LTC planning, they can purchase coverage and have access to our Caregiver Support Services Benefit, which is a great source for advice and helpful information should a long-term care event arise for an uninsured family member, especially Mom.
Reasons to Plan
  • Nearly 60% of LTC Insurance policies are issued to women, indicating that women are acknowledging the need for care.
  • 79.1 years is the current life expectancy for women. The current life expectancy is 73.2 years for men.
  • For every 100 men in U.S. nursing homes, there are approximately 178 women. 
Expand Your Target Market
 
Look for local women’s organizations in your area and consider hosting an LTC planning seminar to educate women on the risk of not having a plan and the comfort of having one.
 
Contact Us
 
Our expert team can offer advice on discussing Long-Term Care with women and how to approach their concerns. Contact us today to learn more.
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Are You Asking The Right Questions?

Bringing up the subject of Long-Term Care (LTC) Insurance is not always easy, but changes may have happened in your clients’ lives that make this the year to talk about LTC.

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.

Here are six easy questions you can ask to help get the conversation started:
  • Have you incurred additional expenses because a family member or friend needed care?
  • Have you needed to adjust your work schedule due to a family member or friend requiring supervision or assistance with activities of daily living?
  • Have you recently moved a parent or loved one into an assisted living facility or nursing home?
  • Have you recently become an empty nester?
  • Are you preparing for retirement?
  • Are you concerned with the government changes in healthcare and its inability to deliver a long-term care plan?
A ‘yes’ answer to one or more of those questions should help your clients realize that planning for an extended health care event with a long-term care policy makes sense. In fact, long-term care is not getting old or living in a nursing home – it’s about receiving the care you want, when you need it.
 
Proper planning will ensure your clients won’t have to depend solely on family or friends for unpaid care, or spend down most of their assets to qualify for government assistance. The benefits of a long-term care policy will help cover the costs of the care.
 
Long-Term Care Insurance provides security to families in the event of an untimely health event. Get the conversation started by asking your clients the right questions at their annual review. As a result, you may discover changes in health or planning opportunities based on anticipated needs.
 
Make certain your clients have the right LTC plan in place to meet their needs. Contact your LTC Sales Rep for more information.
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Home Care – A Compelling Story

There is a growing movement among health care providers that underscores something we in the Long-Term Care industry have known for years: helping chronically ill people receive the care they need while remaining in their homes is not only what people prefer, but can also be more cost effective than facility care.
 
Compassionate Care
 
According to an article in The Atlantic magazine, home based care is gaining traction as “a more humane, effective, and affordable health care system” than traditional nursing home care.
 
We understand that your clients want to maintain their independence. They want the freedom to make decisions about how and where they receive care.

While health and long-term care insurance differ in services that they provide, we believe that home care benefits are very important.

Today’s LTCi policies contain many benefits that will help your clients remain at home: access to a care coordinator, respite care to give volunteer caregivers a break, homemaker services, caregiver training, as well as extra funds to help pay for home modifications, medical alert systems or durable medical equipment.
 
These built in benefits are a compelling reason to purchase an LTCi policy, especially for high net worth clients, as they provide added peace of mind for family members.
 
Start focusing on the benefits instead of the premiums – call your LTC Sales Reps today for further discussion.
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Why You Need To Talk About LTCI

Most people envision themselves living a long life, investing and planning throughout their working years to create a financially secure future where they can enjoy spending time doing their favorite things.
 
As part of your client’s financial planning process, it’s important to understand the potential impact that needing long-term care may have on their assets, their family, and their future.

The reality is, as people start to live longer, the greater the likelihood is that your clients will require long-term care.

The costs associated with long-term care are significant.
 
While it can take decades to accumulate the assets they’ll need to retire comfortably, just a few years of paying for long-term care may threaten a lifetime of savings.
 
If you’ve ever been in a care-giving situation, you understand the physical and emotional toll it can take. While providing care to loved ones is an act of compassion, placing these burdens on spouses, children and other family members can create a significant emotional and physical strain, and is something that many people would like to avoid.
 
Don’t wait to address your client’s long-term care needs.
 
Incorporating Long-Term Care Insurance into financial plans today can help protect assets, reduce the burden of care that would otherwise fall on family members, and enable clients to receive care in the setting they most prefer, including their home.
 
Perhaps the greatest benefit: Long-Term Care Insurance allows loved ones to care about, rather than care for, each other.
 
We’re here to help you design a plan that is both affordable and the best solution for your clients’ needs – contact your LTCi Sales Reps for guidance.
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Put The Power Of Storytelling To Work For You

You already know that quoting statistics doesn’t sell Long-Term Care Insurance. That’s because most people don’t see themselves needing LTC services, and using statistics to try to tell them otherwise will do little to convince them.

Barraging prospective clients with product benefits and features doesn’t work either. If they don’t believe they need LTC Insurance, touting all the bells and whistles of the product isn’t enough to make the sale.

So how do you get people to sit up and take notice? Tell them a compelling, engaging story about the positive impact an LTC policy had on someone’s life.
 
Find a good story.
 
Chances are you already have a story that will work for you. Draw on your own experiences. If you’ve ever had to care for a parent or grandparent, you know how difficult it can be.
 
Or you can use other people’s stories. A story doesn’t have to be your own. It can be just as powerful to share the experiences of family members, friends or clients.
 
Make it memorable.
 
When telling your story, paint a word picture. Don’t just describe what happened. Instead, talk about how it made you or the people involved feel.
 
Also, you need to make sure your story is relevant. A prospective client with no children probably won’t relate to a story about how difficult an LTC situation is on the kids.
 
Finally, don’t scare people. Make sure your story has a happy ending that comes about because of LTC.
 
Get your clients to share their stories.
 
According to a survey of LTC policyholders, 78% said they had a family member or friend who needed LTC services.
 
So your story may prompt prospective clients to recall stories of their own. Ask questions that invite them to talk about these experiences. Who knows, this might be how you get your next good story.
 
Here are five questions that will help you prompt clients to share their stories:
  • Do you know someone who needed Long-Term Care services?
  • Who provided their care? (Generally, a spouse or child is the primary caregiver.)
  • What effect did this have on the caregiver? On the family?
  • How did they pay for the care they needed?
  • What effect did this have on their finances? On their retirement plans? On the inheritance they hoped to leave for their kids?
For more sales ideas, contact your LTC Specialist today.
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Myth: Long-Term Care Is Just For Nursing Homes

Originally, the primary reason LTC Insurance was created was because it would help cover the high costs of a nursing home. But over the years, the policies have changed dramatically.

Now LTC Insurance is a comprehensive product that helps cover the cost of a variety services.

Consider the real-life Long Term Care example of Joe
 
He had helped care for both his parents for many years. So, he decided to purchase LTCi to help protect his family from the same responsibilities that he had with his parents.
 
Later in life, Joe developed an advanced stage of diabetes and several health problems occurred, including blindness and the amputation of his leg. His LTCi policy helped him stay at home by paying for renovations to his home, including ramps and grab bars.
 
The care coordinator helped walk Joe and his wife through the types of care he needed and provided a referral list of care providers in the area. His wife was able to receive caregiver training and a home health care nurse visits during the day while his wife is at work. LTC Insurance helped Joe stay in his home and have the care he needs.
 
There are many reasons to obtain Long-Term Care coverage, that can benefit both your client and their family.
 
To learn more, contact your Long-Term Care Specialists today.
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Why Tax Season Is The Optimal Time To Discuss LTC Planning

Tax season is coming to an end – people all across the country are in the midst of preparing and filing their returns.
 
But did you know it’s also an opportune time to talk to your clients about the vital importance of Long-Term Care Insurance?

There are numerous tax-related benefits that come with LTCi.

For example, LTC Insurance premiums may be tax deductible. Clients may be eligible to receive deductions or credits on their state tax returns for paid LTC Insurance premiums.
 
Plus, tax refunds are a great way to pay into LTC Insurance premium payments. Doing so on an annual basis can make paying premiums a non-event.
 
LTC Insurance is often the missing piece in many financial plans – and tax preparation provides the opportunity for your clients to review their financial plans and identify any gaps in their coverage.
 
For more information on the potential tax benefits of LTC Insurance or for additional information contact your LTC Sales Rep.
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4 Ways LTC Insurance Provides Tax Advantages

When meeting with clients to discuss the benefit that a Long-Term Care (LTC) Insurance policy has on their overall financial plan, tax deductions might not be the first thing you emphasize, but should be one of your top five discussion points.

Taking the time to explain the tax advantages may provide the tipping point for clients who are hesitant about purchasing a policy.

Here are a few scenarios on how to approach each type of client:
 
The Client On The Fence
 
Many states offer a deduction or credit on paid LTC Insurance premiums, which can make purchasing coverage more attractive to your clients. For example, in the state of Ohio, residents are able to deduct the entire annual premium for their LTCI policies on their tax returns.
 
The Planner
 
If you are working with clients on their tax strategy, consider turning their tax refund into an LTC Insurance premium payment. It’s a great way to plan for the cost of the insurance and can make annual premium payments a non-event.
 
Business Owners
 
When a C-Corporation purchases a policy on behalf of its employees, and their spouses or dependents, the corporation is entitled to take 100% deduction as a business expense on the total premiums paid. If self-employed, clients can deduct 100% of their out-of-pocket LTC premiums up to the age-based Eligible Premium amounts*.
 
Current Policyholders
 
Clients who already have an LTC Insurance policy may not know about the tax deductions available to them. So during your annual review, be sure to educate them about a missed opportunity to take a tax deduction.
 
Contact your Long-Term Care Specialist today to learn more about the tax advantages of LTC Insurance.
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The A-B-C’s Of The Cash Benefit

Everyone knows what cash can do. Use this simple concept to demonstrate the value of purchasing a Long-Term Care policy that includes a built-in cash benefit.
 
Take out a piece of paper and write on it vertically: A, B, C.
 
A is for Assets
 
When the need for Long-Term Care first arises, many people worry they may not have assets available to pay for care they need. This is especially true for people who may have to liquidate assets like stocks, CDs or even property to pay for their care.
 
B is for Burden
 
Families typically step in to help a loved one who needs Long-Term Care. But that may be difficult for adult children who have their own family and career responsibilities. If your clients are like most people, the last thing they want to do is to become a burden to their family.
 
C is for Choices
 
A Long-Term Care Insurance policy that offers a cash benefit can help someone receive care in the comfort of their own home.
 
The cash can be used however its needed most. Whether it’s to pay for an airline ticket or a tank of gas so a child can help out or for housekeeping or meal delivery services.
 
With one of our strategic carrier providers, the cash is available to you on day one. That means when you become eligible for benefits under your policy, there’s no waiting period to qualify for cash. This is something you won’t find from other insurance companies.
 
In addition, should your client need a higher level of care someday, they always have the choice to switch from the cash benefit to a traditional reimbursement benefit, which reimburses for the actual Long-Term Care services expenses incurred.
 
For more information about this sales idea, contact your LTC Specialists today.
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Open the Door to Small Business Sales

Selling Long-Term Care Insurance to small business owners is not like the emotional roller coaster sale it is when selling to individuals. Business owners tend to look at this as a logical discussion of how you can help with their business finances.
 
Many are always looking for a way to save on taxes so a great way to open the door to an LTC sale would be, “If I could show you something that could help your business reduce its tax burden, would you be interested?”

All businesses can deduct LTC Insurance premiums paid using business dollars.

Depending on the tax structure of the business, the owner can either deduct the actual premium or eligible premium.  How?
 
Owners of C corporations can deduct the actual premium paid on a LTC Insurance policy for the owner / employee, spouse, dependents and a designated class of employees.
 
Self employed business owners such as sole proprietors, partnerships or LLCs can deduct the eligible premium paid for the owner, spouse and dependents. The eligible premium is established annually based on the medical care components of the Consumer Price Index.
 
This opportunity allows you to approach any type of small business because you are able to offer a money saving solution. Be sure to approach small business owners with a plan that provides essential LTC coverage and allows them to take advantage of federal tax incentives.
 
For more information about selling LTC to small business owners contact your LTC Specialist today.

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