Following a period of substantial growth from the 1990s to 2010, Traditional LTC Insurance has encountered difficulties in expanding over the past decade. While sales remain steady, they are not significant enough to address America's Long-Term Care funding crisis. This has been highlighted by various negative press articles, including one from the New York Times' "Dying Broke" series in November 2023.
5 min read
The Challenges and Future of Traditional Long-Term Care Insurance
By Tom Riekse Jr. on 2/5/24 6:24 PM
Is Worksite LTCI Dead or Alive?
By NAIFA on 11/22/23 10:36 AM
Wondering if large-worksite traditional long-term care insurance is dead or alive? Kevin Sypniewski, founder and president of AGIS Network, a speaker at our recent “Don’t Be Scared of Long-Term Care” event says it depends on who you asks, and provides his insights on the answers and options.
Looking to learn more? The original presentation during “Don’t Be Scared of Long-Term Care” is available on demand. Media coverage of Kevin Sypniewski's presentation can be found in InsuranceNewsNet.
1 min read
Decoding Long-Term Care Insurance: Simplified Choices for Complex Needs
By NAIFA on 11/9/23 10:06 AM
As part of Long-Term care awareness month our latest spotlight highlights the insights from Tom Riekse’s article on Long-Term Care (LTC) insurance. He breaks down the often overwhelming array of options into manageable choices, guiding through the intricacies of health underwriting, product features, and funding strategies. To get the full breadth of Tom's expertise, read his in-depth article.
3 min read
It's Long-Term Care Awareness Month: Make Sure Your Clients Prepare for Any Eventuality
By NAIFA on 11/2/23 10:56 AM
November is National Long-Term Care Awareness Month and it is a great time to bring potential limited and extended care planning needs top-of-mind with your clients. It is important for every comprehensive financial plan to include LTC considerations. So even if LTC insurance is not your primary line of business, Long-Term Care Awareness Month gives you a good opportunity to get clients up to speed.
Topics: Long-Term Care Long-Term Care Insurance Limited & Extended Care Planning Center
3 min read
This Halloween, There's Nothing to Fear about Long-Term Care
By NAIFA on 10/5/23 9:20 PM
Before you head out for Trick-or-Treating, spend the afternoon preparing for Long-Term Care Awareness Month with NAIFA's Limited and Extended Care Planning Center. Executive Director, Carroll Golden, CLU, ChFC, CLTC, CASL, LECP, FLMI hosts a Halloween event, Don't Be Scared of Long-Term Care. This free event will feature some of the biggest names in the limited and long-term care space.
1 min read
California Insurance Department FAQ Aims to Clear Up Confusion About LTCi Program Study
By NAIFA on 8/18/23 1:19 PM
California has not at this time established a publicly funded state-run long-term care insurance program or set deadlines for employees in the state to opt out. The state established a Task Force to study the possibility of such a program and make recommendations, and that study is ongoing. The California Department of Insurance has issued a revised Frequently Asked Questions Document to clear up some common misconceptions. Among topics covered by the FAQ are:
Topics: Long-Term Care Insurance State Advocacy Limited & Extended Care Planning Center California
1 min read
46% of Financial Professionals Don't Recommend LTC Insurance
By NAIFA on 7/20/23 5:19 PM
A study conducted by OneAmerica found that 46% of financial professionals do not recommend long-term care (LTC) protection to their clients.
The study highlights a potential gap in helping clients prepare financially for potential LTC expenses. It is estimated that almost 70% of individuals over the age of 65 will require LTC services at some point in their lives, making LTC protection an important aspect of retirement planning.
Topics: Long-Term Care Research/Trends Long-Term Care Insurance
7 min read
Your Wealthy Client Can Self-Insure for Long-Term Care. But Should They?
By Tom Riekse Jr. on 6/6/23 12:12 PM
Let me ask you a question. How much will your long-term care cost?
The answer, of course, is you have no idea. You may be one of the lucky ones who are completely independent and dies of "natural" causes in their sleep. Or you may be diagnosed with early-onset Alzheimer's and need expensive care for a number of years. It's not unusual for people to spend up to $20,000 per month on long-term care (I've got family experience).
It's often said that LTC Insurance is for the middle class - the poor can rely on Medicaid to pay for care and the wealthy can pay for care themselves. But is self-insuring, or to be more precise self-funding, always the best choice?
Topics: Long-Term Care Extended Care Limited Care Research/Trends Tax Benefits Limited & Extended Care Planning Center
4 min read
Paying for Senior Care
By Coventry on 5/23/23 3:00 PM
As you get older and develop medical conditions, you may need to consider getting assistance in the form of senior care. From in-home care to an assisted living or nursing facility, there are many options that can meet your needs. But the unfortunate reality is that senior care often comes with a high price tag, and you need to know what costs to anticipate—and how you’ll cover your care. In this post, we’re exploring how you can finance this important step in your journey—and live comfortably and affordably throughout your later years.
Topics: Long-Term Care Extended Care Limited Care Long-Term Care Insurance Limited & Extended Care Planning Center
1 min read
Breathe New Life Into Your Bottom Line with Supplemental Health Products
By NAIFA on 5/17/23 10:24 AM
Accident, critical illness, and hospital indemnity products are often not top-of-mind but offer incredible value as stand-alone products, while also working well together when paired with health insurance.
At the next Advisor Today on Wednesday, May 31 at 12 pm eastern, find out how these products can provide a whole health solution for your clients and offer advantages to agents looking to grow their business.