There are plenty of factors your clients need to think about when exploring long term care insurance options, but one that often gets overlooked is how improper coverage can impact loved ones.
Regardless of gender, income or background, there’s a high probability that your clients will require long term care in the future. However, there are some key characteristics that make some more predisposed to LTC insurance than others.
When it comes to the future, your clients have a lot on their minds. However, a recent study indicates that being able to afford health care as they age may be chief among their concerns.
As an insurance professional offering long term care coverage, there’s no doubt you’ll come across clients who believe such a product doesn’t apply to them. Such reticence is understandable, as no one likes to think there will come a day where they may need assistance with everyday tasks like bathing, dressing and eating. This is especially true of younger clients.
Insurance producers know how valuable long term care insurance can be for their clients. However, they may come across clients with the mistaken impression that LTC coverage is too expensive or isn’t necessary because they can depend on programs like Medicare.
Far too many Americans are surprised to find themselves at a financial shortfall for their long term care needs due to confusion over what their Medicare benefits do and don’t cover. However, long term care insurance can help financial professionals provide their clients security and peace of mind.
When discussing your clients’ financial futures, a great deal needs to be taken into consideration. And while there are some factors you can do your best to predict – the approximate year of retirement, for example, and what the cost of living for a given area will be – there are also a large number of events that could dramatically change the course of your clients’ retirement plans.