Have you heard of the Washington Cares Fund? If you haven't, it's the first state run and funded Long-Term Services & Supports program. Originally signed in 2019 by Governor Jay Inslee, as of January 1st, 2025, Washington State Residents who need long-term care may be able to claim benefits (based on needing help with 3 of 10 ADLs) from the state and receive a benefit of up to $100 per day up to a maximum benefit of $36,500. Undoubtedly for many families these benefits are going to welcomed and helpful. But, of course, someone has to pay for the program.
3 min read
The Private LTC Insurance Option for Washington State Workers
Topics: Long-Term Care Tax Benefits
Complimentary CE at this Exclusive Webinar Presented by Mutual of Omaha Mortgage
NAIFA partner Mutual of Omaha Mortgage is offering a webinar on Tuesday, May 18th at 1:00 p.m. central, with industry expert Wade Pfau, Ph.D., CFA, RICP as he discusses how different types of annuities work.
Topics: Life Insurance & Annuities Financial Wellness
6 min read
Why Single Pay LTC Insurance Might be the Right Strategy Now
The recent stock market run (especially in tech stocks) has been amazing. Despite the high unemployment rate, many investors are enjoying that feeling of increased net worth in both their qualified and non-qualified money.
Topics: Long-Term Care Life Insurance & Annuities Planning in Advance
6 min read
How low interest rates are changing LTC Insurance products
The last several years have seen major changes in LTC Insurance - leading to what can be referred to as LTC 2.0. LTC 2.0 means that while the pure protection of traditional LTC insurance is still a popular option, there has been an accompanying growth in Hybrid LTC + Life plans - both in number of policies sold and number of carriers offering these plans.
Topics: Long-Term Care Life Insurance & Annuities Planning in Advance
1 min read
CLTC Offers "A Teachable Moment"
The Certification for Long-Term Care has produced a fact sheet, "A Teachable Moment: The Power of Starting a Conversation," to help advisors start conversations with clients about the importance of extended care planning. It offers facts and statistics that emphasize the importance of planning.
Topics: Long-Term Care Extended Care Limited & Extended Care Planning Center
6 min read
Why the Traditional LTC Market is here to stay - and will grow
Recently I received an email from a Insurance Carrier who sells Linked Life/LTC plans with the headline "What happened to traditional LTC?". The email started by saying "It wasn't so long age that traditional long-term care (LTC) insurance dominated the market, but now they are barely holding on while linked-benefit products are taking over." Harsh!
Topics: Long-Term Care Advanced Planning
5 min read
The Impact of Voluntary Interest Payments on Reverse Mortgages
In the early days of reverse mortgage lending, little attention was paid to the impact of tax deductions from accrued interest on the loan. In part, most borrowers had so little income that any deduction was meaningless. Two important changes in the reverse mortgage landscape, however, have generated a more strategic approach to the home asset.
Topics: Reverse Mortgages Limited & Extended Care Planning Center
5 min read
The biggest mistakes people make when choosing to self-insure for LTC
For Financial Professionals that are savvy enough to have a discussion about the impact of a long-term care event one of the most important topics is whether a client should consider long-term care insurance or should instead "self-insure".
Topics: Long-Term Care Life Insurance & Annuities
3 min read
New Premiums Increasing on Hybrid Life + LTCI Plans
Many clients find that the best way for them to plan for LTC is by purchasing a linked life/ltc plan. Compared to traditional LTC policies which provide pure long-term care protection (and the most LTC protection per premium dollar) linked Life/LTC trade off some of that leverage to provide guaranteed premiums and a life insurance benefit.
Topics: Life Insurance & Annuities Planning in Advance Limited & Extended Care Planning Center
7 min read
The worst case scenario - is lifetime LTC Insurance worth it?
Luckily, you aren't going to need years and years of high cost long-term care. But what if you did?
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