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.
Age
The optimal time for individuals to obtain an LTC policy is between the ages of 45 and 65, something to keep in mind the next time you’re undertaking financial planning services for one of your clients.
Gender
Women often live longer than men, which means they have a greater probability of needing LTC insurance to cover the costs of such care.
Career
LTC insurance comes with unique tax benefits that can be utilized by business owners, one added benefit that can help clients realize the advantages of obtaining a policy.
Health
Clients worried about LTC insurance costs should be made aware that good health can be rewarded with special discounts.
Marital status
Individuals might be surprised to learn that couples can receive discounts for applying for LTC coverage together.
Income
Clients who earn an income of at least $50,000 a year are in a better position to afford LTC insurance premiums.
Personal experience
Anyone who’s familiar with LTC, often through seeing a friend or family member rely on it, will better understand the financial and emotional toll such care can take without proper coverage.
