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July 2018 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 recent third-party articles.

Top News

Life-LTC Hybrid Sales Soar: LIMRA

Use of life insurance-based long-term care (LTC) planning arrangements soared in 2017, according to data from LIMRA’s LIMRA Secure Retirement Institute. New premiums from life-LTC hybrids increased 18% over 2017 levels, to $4.1 billion, institute analysts report. The number of policies sold increased 5%, to about 260,000. Read more

Long-Term Care Insurance Companies Will Pay Out $100 Billion Over Next Decade

Over the next decade, the nation’s long-term care insurance companies will pay out over $100 billion in claim benefits projects the American Association for Long-Term Care Insurance (AALTCI). “Insurers this year will likely pay out $10 billion in claims and that number will grow each year as more individuals begin to claim benefits from their policies,” explains Jesse Slome, director of AALTCI. “The $100 billion is money individuals will not have to spend on needed home care or assisted living or skilled nursing home care for themselves or loved ones.”
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Help clients come to grips with long-term care

Starting a conversation about planning for illness and decline in old age is difficult with any client. Those who fall into the high-net-worth category are no exception. Nearly 60% of financial advisors working with clients with $1 million or more in investable assets say fewer than a quarter of their clients have a long-term care plan, according to a new Key Private Bank study.
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Some Advisors Call for Early Long-Term Care Planning

Consumers with cash should start thinking about future long-term care (LTC) expenses as early as possible, many wealth advisors say. Key Private Bank, an arm of Cleveland-based KeyCorp., learned about some advisors’ passionate advocacy for LTC planning recently, when it surveyed bank advisors who work with high-net-worth clients.
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