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EPICC LTC

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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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Turn Annuities Into Tax-free Long-Term Care Funding!

Every year, every squirrel collects and stores thousands of acorns in many locations. So many that they lose track of some of the hiding places. As a result, each spring millions of unrecovered acorns begin to grow in uncrowded areas, assuring the next generation of oak trees.

It’s called symbiosis, a close relationship between two parties for the benefit of both.

And you can create a symbiotic relationship for some of your clients who have two concerns that, left alone, create tax disadvantages, to wit:
  • Withdrawals of gain from non-qualified deferred annuities are taxable.
  • Self-funded long-term care expenditures are often non-deductible.

But the Pension Protection Act of 2006 allows a tax-saving symbiosis for clients who own non-qualified annuities and anticipate the need for long-term care.

Consider:
  • Existing non-qualified annuities can be exchanged on a non-taxable basis for approved annuities that allow for tax-free distributions if used to pay long-term care expenses.
  • Underwriting is super-simplified requiring a negative response to only five questions dealing with extreme health issues.
  • A spouse can be added and covering his/her expenses on the same tax-advantaged basis.
  • Until needed the annuity continues to grow like a normal non-qualified product.
  • If unneeded for care, the funds are available for use or to pass on in the form of a gift or bequest.
  • Annuity owners have access to advice and counsel regarding recommended services and appropriate sources for care.

By helping your clients exchange for approved annuities, we can help them make maximum use of annuity accounts by lightening their tax burden should a long-term care event occur. Bring all your clients’ long-term care planning to us.

For What It’s Worth – Oak trees are the most common and widespread hardwood in the U.S. numbering in the tens of billions. The gray squirrel population is around 40 million. But even counting all the other 64 species, every squirrel family is assured of having its own tree or two!

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Life Changes. Should Your Clients’ LTC Strategy Change Too?

Long-term care (LTC) can be one of the most important planning discussions advisors have with their clients—yet it’s often one of the easiest to postpone.
 

The good news? Clients’ life changes frequently create natural opportunities to revisit the conversation.

 
An annual financial review provides the perfect setting to discuss new developments, reassess goals, and identify potential risks that could impact a client’s financial future. It’s also a great time to explore whether a long-term care strategy still aligns with their current needs.
 
Consider asking these six simple questions:
  1. Have you helped cover the cost of care for a family member or close friend?
  2. Have caregiving responsibilities affected your work schedule or personal commitments?
  3. Has a loved one recently moved into an assisted living community or nursing facility?
  4. Have your children recently become financially independent or moved out of the home?
  5. Are you getting closer to retirement or already planning your retirement income strategy?
  6. Have concerns about healthcare costs influenced your long-term financial planning?
If a client answers “yes” to any of these questions, it may be the right time to discuss how long-term care planning can help protect their finances, lifestyle, and family.
 
It’s important to remember that long-term care isn’t just about nursing homes. It’s about having options and maintaining independence when an extended health event requires assistance. A well-designed LTC solution can help clients access the type of care they prefer, whether at home, in an assisted living setting, or in another care environment.
 
Without a plan, families often find themselves relying heavily on loved ones for caregiving support or using personal assets to cover significant care costs. Planning ahead can help ease those burdens while providing greater flexibility and financial confidence.
 
Long-term care insurance can play a valuable role in protecting both clients and their families from the financial and emotional impact of an unexpected health event. By making LTC part of the annual review process, advisors can uncover important planning opportunities and help clients prepare for the future with confidence.
 
Ready to explore the right LTC strategy for your clients? Contact your LTC Sales Representative to learn more.
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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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MEGA-LTC – Coverage With All The Advantages

The first car insurance was purchased in 1897, by Gilbert J. Loomis of Westfield, MA.It provided $1000 of liability coverage for an annual premium of $7.50. There is no record of how happy Mr. Loomis was when paying for the coverage, but in the 120 years since, few have been enthusiastic about buying automobile insurance. The premiums are high and unpredictable. Getting claims paid properly is difficult. And worst of all: accident-free drivers might as well be throwing the premium dollars out the driver-side window.
 

For a generation, similar complaints have been made concerning long-term care insurance, often discouraging your clients from buying the protection they need.

 
But those product shortcomings are gone! Consider introducing them to a policy that:
  • Guarantees premiums for the life of the policy and allows payment options ranging from single-pay to annual-for-life.
  • Guarantees benefits and allows for benefit inflation options.
  • Guarantees a death benefit, reduced only by the amount of any payments made for long-term care.
  • Guarantees a portion of the long-term care and death benefits even if scheduled premiums are stopped.
  • Guarantees benefits paid retroactively to day one after the 90-day elimination period is completed.
  • Guarantees payment of benefits in cash to be used as the policyholder sees fit.
  • Guarantees division of the benefits between spouses as needed.
  • Guarantees full or partial return-of-premium options in certain policy years if the policyholder chooses to end coverage.
And all the policy features have a range of flexibility in design so the coverage can be customized to meet each client’s particular needs and circumstances. Bring your clients’ long-term care planning to us.
 
For What It’s Worth – The first automobile manufacturer, the Oldsmobile Motor Company, was founded in Lansing, MI, the same year Mr. Loomis bought his policy, but the coverage was on a car he had built himself!
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Mutual of Omaha: Results From the Annual Cost-of-Care Study

The Cost-of-Care Study Results are In
 
Every year, Mutual of Omaha conducts a cost-of-care study across all 50 states, and the latest results are in.
 
The cost of care services continues to rise. Current figures show the average annual cost for a home health aide is approaching $80,000. Assisted living costs have also increased, and a private room in a nursing home now carries an even higher annual price tag.
 
Mutual of Omaha has updated their cost-of-care tools to reflect these changes and help you guide conversations with clients about how they intend to pay for long-term care.
 
Resources for Long-Term Care Sales:
  • Cost-of-Care Sales Ideas — Use the Rising LTC Costs Flyer and the Sales Idea Flyer: Help Clients Stay at Home to have powerful conversations with clients, including links to the materials that can be used.
  • Cost-of-Care Calculator — See the current cost of LTC services by state and view what those costs might be 5, 10 or 20 years down the road. You can also adjust the inflation percentage from 1%–5% to model different cost scenarios.
  • Cost-of-Care Brochure — Use this brochure to help your clients understand the current cost of LTC services in their state.
We’re Here to Help
 
If you have any questions about the LTC resources or Cost-of-Care Study, please reach out to your LTC Sales Associate.
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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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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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