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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.

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.

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.

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.

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:

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.

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?

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.

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.