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April 2016 LTC Newsletter


LTC in the News

The word is spreading. Major news outlets are letting the American people know the importance of long-term care planning. Are you? Here are a few third party articles.

Top News

Highlights from the 16th Annual Intercompany LTC Insurance Conference

  • Percentage of income spent on LTC Insurance has reduced over a 10-year period (2000-2010)
    • Majority of buyers spending between 1-3% of their income for coverage
  • Reasons for purchasing LTC Insurance has changed over a 20-year period (1990-2010)
    • Motivation shifting to preserving assets & lifestyle
    • Less buying to avoid dependence and guarantee affordability
    • More buying to protect assets or living standards
  • Increase in single-premium linked benefit plans correlates to the shift of Boomers becoming purchasers
  • Dementia can have a substantial impact on life expectancy
    • Survival from diagnosis ranges typically 4-9 years
    • Men have approximate 20% shorter survival times than women
  • Expect new market entrants
    • There is real interest in companies entering the Standalone & Multi-life marketplace
    • The hope is to see new entrants or re-entries in 2016 and 2017

It’s Time to Talk about Healthcare Costs in Retirement

Planning for the future can be exciting and full of opportunity, but let’s face it: Many of us don’t want to tackle some things because they seem too scary or complicated. According to this recent Health Care and Long-Term Care Survey, planning for medical expenses in retirement is one of those challenges. To compound the issue, people aren’t talking about it with their families because they don’t want them to worry. Read More

What’s Keeping Your Senior Clients Up at Night?

A good grasp of what is worrying your senior clients is essential if you want to help them build their financial assets in today’s challenging market. Understanding their primary financial concerns will help you offer the products and services that will best alleviate their fears. Read More

Beyond Dollars 2015

This white paper provides an assessment of the true impact – beyond the financial impact – of a long term care situation. It is based on a survey of 800+ consumers and demonstrates the ripple effect on care recipients, their primary and secondary care.

Beyond Dollars 2015 [Infographic]

This infographic highlights the findings from the 2015 Beyond Dollar Study. It is intended to help your clients understand the multi-layered impact of a long term care event and caregiving.

Sales Tips

Get into the Hearts and Minds of Long-Term Care Buyers

Mutual of Omaha initiated a research project to get into the hearts and minds of long-term care buyers. The study shows who these buyers are, why they buy (and why they don’t) and what steps they take to educate themselves before making a buying decision. It also shows how these buyers feel about long-term care insurance, how much they understand about the risks they face and how they prefer to buy. View the results

Your Clients Have Choices When it Comes to Long-Term Care [Infographic]

Help your clients make the right choice. Share this infographic with them. It not only shows the need and the costs of LTC, but also the different way benefits are paid.

UPDATED: Kiplinger’s “3-Step Guide to Smarter LTC Planning”

The “3-Step Guide to Smarter Long-Term Care Planning” reprint has been updated to include recent data and statistics. It highlights the impact of needing long-term care, and provides tips to consider in the planning process.

Using Long-Term Care Riders in Estate Planning

Long term care (LTC) planning has been one of the hottest topics in the financial services industry, and will continue to be so as the population of the United States continues to age. It is estimated that people reaching age 65 will have a 70% chance of needing long term care at some point in their life, making this potential issue something that should be seriously addressed when doing retirement and estate planning for clients. Read More

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