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.
- LifeHealth.com – July 8: Longevity & The Gift of Time
- LifeHealth.com – July 8: Long Term Care Costs Trend Higher in the Northeast; Lower in the Southeast
How Long-Term Care is Changing
Over the last several years, one of the most surprising demographic shifts witnessed in America involves major financial implications for families. According to a recent study from Pew Research Center, more young adults age 18-34 now live with their parents than with a spouse or on their own. At the same time, the American population is trending older. Taking care of the fast-growing segment of retirees, who often have special health needs, must now be balanced with the financial obligations of children who remain dependent on parents well into their 20s. Read more
Why the Latest Research on LTC Planning Could Be Good News for Advisors
Do you think you’ll need long-term care at some point in the future? Where do you want to receive that care? Who is going to pay for it? Have you talked to friends or family members about your desire for care?
These are typical questions that need to be answered when creating a plan for long-term care. As an advisor, you’ve probably asked some version of these questions to many clients who are 40+ years old. Each year, variations of those questions are asked by the Associated Press – NORC Center for Public Affairs research at the University of Chicago. The survey is one of the best funded and comprehensive studies done each year. And the results show there is a lot of opportunities for advisors who can help people plan.
- 44% of caregivers under A65 report having to miss work to provide caregiving
- More than ½ of older Americans say it is likely they will need care
- Majority of prospective caregivers (who expect to be relied on for caregiving) are not confident they are prepared to provide the care
- 3 in 10 of wealthier older Americans report they will rely on Medicare which doesn’t cover LTC, aside from potentially part of 100 days max
10 Things You Should Know About Long-Term Care
As the population ages, more and more of us will require long-term care for our families and ourselves. The numbers are astounding. By 2050, there will be 80 million Americans 65 and older — twice as many as today. But many people are confused about what long-term care entails and who pays for it. Take our quiz to see how much you know about long-term care and how you can prepare for what could be one of the biggest expenses of your life. Read more
LTC combo policies: Assessing the Pros and Cons
The long-term-care insurance landscape is ever-changing, with premiums going up and insurance carriers getting out of the business, but what isn’t changing is the need for clients to have a financial plan for custodial needs in their older years. Fortunately, the LTC industry has developed some new ways to pay that may work for some clients, most notably, combination policies. Read more
Long-Term Care Insurance: An Industry in Transition
Successful products evolve over time. This holds true for long-term care insurance as well. Learn more about this changing industry and how John Hancock has reinvented the traditional Long-Term Care Insurance policy. Download An Industry in Transition
Women in the Sandwich Generation [Infographic]
Recognize this scenario among your clients? It’s time for a conversation about life insurance and chronic illness planning.
Margie, 45, is one of millions of women who are supporting children while also caring for a parent with a chronic illness. She knew it would be a major financial commitment, but even she’s surprised by the actual costs—from out-of-pocket expenses to sacrificed earnings at work.
Margie wants to make sure her kids can still go to college if she were to die prematurely. And with her experience, she’s also determined to protect her family against the financial and emotional costs of chronic illness.
View Strategy | View Infographic: Women and Chronic Illness
Who Will Take Care of the Caregivers? [Video]
Hear real stories from women who care for loves ones—and how they’re planning for their own future. View Video (after clicking on link, you will have to scroll down to view video)
Tips for Turning Needs and Concerns into LTC Sales
Clients should consider a LTC policy as part of their financial plan, however do you ever wonder how to find the right people to talk to or how to begin a conversation about LTCi? This booklet gives tips and ideas to tackle these issues head on so you can turn your clients’ needs and concerns into sales.
What Will Happen to Me? Six Discussion Points
With people living longer, the conversation around planning for an uncertain future is changing. More and more people will be looking for both protection for their loved ones and their own quality of life. These questions can help you drive productive discussions around needs that can be addressed through a variety of solutions. Read more