Three Compelling Reasons Why Planning for Care is in Your Client's Best Interest:

• Impact on loved ones
• Lifestyle
• Financial Security

Having a plan for long-term care can help ensure that clients: don’t overburden loved ones; maintain their lifestyle, for themselves and their partner; and maintain future financial security.

When there isn’t a plan to pay for professional help, the personal costs paid by loved ones increase dramatically, especially when trying to keep the care recipient at home. To help the client, and get the client conversation going, begin by asking, “What is your plan for extended care?” 

Continue with, “If you needed care tomorrow, where would you want to live?” 

Ask, “How do you see that working? Who will be your primary caregiver(s)?” 

If the answer is a partner and/or children, ask, “Have you considered the personal impact this responsibility could have on their lives and health?” Half of family caregivers are performing demanding medical and nursing tasks traditionally done by medical professionals. They are providing intense and complex care, including managing multiple health conditions often accompanied by pain.[1]

Quality custodial home care can cost $4,000/mo. for 40-hours of care.[2]  Ask your clients, “If you needed care, where would that $4,000/mo. come from?” 

Only when these personal and financial consequences have been identified can you begin to explore the funding options. Engaging clients in an effective extended care planning conversation should first focus on care. 

So ask your clients, “What’s your plan for extended care?”

[1] Home Alone Revisited: Family Caregivers Providing Complex Care. Funded by the AARP Foundation 2019 [2] https://www.genworth.com/aging-and-you/finances/cost-of-care.html