The insurance industry is heating up in 2015, and some new products have provided advisors with new ways to help clients reach their financial goals.
People are living longer, and with this development comes a greater need for future planning. With this in mind, it’s no surprise long-term care insurance has become a hot topic.
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.