When it comes to LTC it seems that no one wants the "old" type of policy where the benefits are limited and premiums can go up and of course, Hybrid products leave the risk of running out of money. While their may still be a need due to budgets they just don't seem to be what people are looking for.
So, wouldn't it make sense to offer a real, guaranteed premium, lifetime benefit product that would address most of your clients concerns about funding the costs of extended health care/long term care?
Don't be shy, when your clients realize that there is a very real risk of having to pay for extended health care, long term care, at some point in their lives and they would prefer to use an insurance carrier's money before their own, let us help you.
Our Preferred Products feature up to "Lifetime" monthly benefits to reimburse LTC/Extended Health Care expenses with premiums that are guaranteed for the life of the policy! Premiums can be paid monthly draft, annually or even on a single pay basis!
Call me for a quote or more info Bill Jr. @ 713-771-7226 or email me. You and your clients will be glad you did!
So, wouldn't it make sense to offer a real, guaranteed premium, lifetime benefit product that would address most of your clients concerns about funding the costs of extended health care/long term care?
Don't be shy, when your clients realize that there is a very real risk of having to pay for extended health care, long term care, at some point in their lives and they would prefer to use an insurance carrier's money before their own, let us help you.
Our Preferred Products feature up to "Lifetime" monthly benefits to reimburse LTC/Extended Health Care expenses with premiums that are guaranteed for the life of the policy! Premiums can be paid monthly draft, annually or even on a single pay basis!
Call me for a quote or more info Bill Jr. @ 713-771-7226 or email me. You and your clients will be glad you did!
Refresher: What is Extended Health Care, "Long Term Care"?
Extended Health Care or "Long Term Care" is the type of care one may need when he or she is not able to perform some of the basic activities of daily living such as:
Long term care needs typically arise from:
Where is Extended Health Care Provided?
In a variety of settings, including in one's home, assisted living facility or a nursing facility and even in a hospice facility.
So, who Needs to Plan for Long Term Care Expenses?
Anyone who wishes to prepare for their future medical costs, maintain their independence, and protect their family assets from the cost of extended care. Those who want to leave a legacy of financial and medical preparedness. Those who who prefer to use an insurance carrier's money before using their own hard earned and saved dollars.
- Eating
- Bathing
- Continence
- Dressing
- Toileting
- Transferring in and out of bed, chair and wheelchair
Long term care needs typically arise from:
- Frailty due to advanced aging
- A debilitating injury
- A progressive illness
- A severe cognitive impairment
- A combination of chronic conditions that degrade a person's health
Where is Extended Health Care Provided?
In a variety of settings, including in one's home, assisted living facility or a nursing facility and even in a hospice facility.
So, who Needs to Plan for Long Term Care Expenses?
Anyone who wishes to prepare for their future medical costs, maintain their independence, and protect their family assets from the cost of extended care. Those who want to leave a legacy of financial and medical preparedness. Those who who prefer to use an insurance carrier's money before using their own hard earned and saved dollars.
Refresher: Care Services. Needing Extended Health Care/LTC Does Not Mean Shipping Off a Loved One to a Nursing Home!
Types of Long Term Care
There are multiple options for long term care, from home and community care services to facility care services that help provide care up to 24-hours a day / 7 days a week.
Home and Community Care Services
Home and Community Care Services allow a person to live in their own home or to return to their home by helping them with the activities of daily living that they can't manage alone due to physical or mental impairment or illness.
Some service providers are:
Facility Care Services
Facility Care Services include assisted living facilities, which offer on-site support for activities of daily living, and nursing facilities, which offer more intensive care related to patient supervision, therapies, rehabilitation, and medication.
There are multiple options for long term care, from home and community care services to facility care services that help provide care up to 24-hours a day / 7 days a week.
Home and Community Care Services
Home and Community Care Services allow a person to live in their own home or to return to their home by helping them with the activities of daily living that they can't manage alone due to physical or mental impairment or illness.
Some service providers are:
- Adult Day Care Providers - provide therapeutic and social activities in a community group setting while a person is able to live at home.
- Home Health Aides - provide personal care such as cooking, cleaning and running errands.
- Nurses - who provide support for IVs, medications, and more complex health issues.
Facility Care Services
Facility Care Services include assisted living facilities, which offer on-site support for activities of daily living, and nursing facilities, which offer more intensive care related to patient supervision, therapies, rehabilitation, and medication.
OPTIONS: How Will Your Clients Cover the Cost of Extended Health Care (LTC)?
Public programs:
Medicare covers just those services that are medically necessary, such as doctor visits, drugs, and hospital stays, and it is limited to conditions that are expected to improve, like physical therapy after a fall or stroke.
Medicaid programs often pay for long term care services, but to qualify for benefits an individual must meet their states poverty level guidelines.
Private or family support:
Family members and loved ones can provide care or funds for long term care needs. But often, the physical, emotional, financial, and daily routines have a significant negative impact on caregivers and their own families. Prior to relying on family support, these factors should be taken into account.
Self-funding:
A person may pay for their long term care costs out of savings, retirement savings or from retirement income. However, they may not have saved enough prior to an event occurring creating a need for care or enough to fund an extended need for care. Extended care, even in one's home, is not cheap.
Insurance choices include:
Health Insurance: May only cover part of the cost for hospital stays, doctor's visits, and prescription drugs, but may not cover the support needed for daily activities related to long term care such as bathing or using the restroom.
Disability Income Insurance: Replaces lost income in order to cover basic living expenses such as food, rent, and clothing, but typically does not cover the cost of long term care services.
Critical Illness or Cancer Heart Attack and Stroke Insurance: CI and or cancer, heart attack and stroke insurance policies are designed to pay lump sum benefits at the time of diagnosis to assist in treatment and recovery from a covered condition and while some funds may be left to cover extended care they are not designed for ongoing payments to reimburse health care costs.
Long term care insurance: Long term care insurance is designed to protect a person's assets against health care costs and secure your future long term care needs. This option allows them to have peace of mind that by providing for their future today they will gain independence and control over choices about health care and personal wealth in the future.
This is where you, the profession agent, in conjunction with our office, can help your clients. We will work with you to find suitable and affordable solutions for your clients.
Medicare covers just those services that are medically necessary, such as doctor visits, drugs, and hospital stays, and it is limited to conditions that are expected to improve, like physical therapy after a fall or stroke.
Medicaid programs often pay for long term care services, but to qualify for benefits an individual must meet their states poverty level guidelines.
Private or family support:
Family members and loved ones can provide care or funds for long term care needs. But often, the physical, emotional, financial, and daily routines have a significant negative impact on caregivers and their own families. Prior to relying on family support, these factors should be taken into account.
Self-funding:
A person may pay for their long term care costs out of savings, retirement savings or from retirement income. However, they may not have saved enough prior to an event occurring creating a need for care or enough to fund an extended need for care. Extended care, even in one's home, is not cheap.
Insurance choices include:
Health Insurance: May only cover part of the cost for hospital stays, doctor's visits, and prescription drugs, but may not cover the support needed for daily activities related to long term care such as bathing or using the restroom.
Disability Income Insurance: Replaces lost income in order to cover basic living expenses such as food, rent, and clothing, but typically does not cover the cost of long term care services.
Critical Illness or Cancer Heart Attack and Stroke Insurance: CI and or cancer, heart attack and stroke insurance policies are designed to pay lump sum benefits at the time of diagnosis to assist in treatment and recovery from a covered condition and while some funds may be left to cover extended care they are not designed for ongoing payments to reimburse health care costs.
Long term care insurance: Long term care insurance is designed to protect a person's assets against health care costs and secure your future long term care needs. This option allows them to have peace of mind that by providing for their future today they will gain independence and control over choices about health care and personal wealth in the future.
This is where you, the profession agent, in conjunction with our office, can help your clients. We will work with you to find suitable and affordable solutions for your clients.