You’ve discussed the cost of care. You’ve explained that Medicare generally doesn’t cover ongoing custodial long-term care. You’ve reviewed the potential impact on retirement assets and family members. Your client agrees that extended care planning makes sense.
And then…nothing happens.
For many advisors, one of the most challenging parts of extended care planning isn’t starting the conversation—it’s helping the client decide and move forward. The key is recognizing that clients aren’t simply buying insurance. They’re making decisions about aging, independence, finances, and family. That can make procrastination easy. Your role is to help turn an uncomfortable future possibility into a manageable plan.
When a client hesitates, resist the temptation to immediately provide more information. Instead, ask a simple question: “What’s keeping you from feeling comfortable moving forward?”
| Mary Sizemore, CLTC, LTCCP Insurance Communications and Marketing Coordinator Krause Agency |
Their answer may have very little to do with the policy itself. They may be concerned about the premium, worried they’ll never use the coverage, unsure which option to choose, or simply reluctant to think about needing care. Once you understand the real concern, you can address it rather than continuing to add illustrations and product information.
Extended care planning becomes much more meaningful when it’s personal. Ask questions such as:
These questions shift the conversation away from buying insurance and toward creating a plan. The policy is simply one tool for funding that plan.
Sometimes we inadvertently make extended care planning more difficult by giving clients too many choices. Traditional LTC insurance. Hybrid coverage. Short-term care. Different benefit periods. Inflation options. Elimination periods. Cash versus reimbursement.
For an advisor, those choices may make perfect sense. For a client, they can create decision paralysis. Instead of presenting every possible option, narrow the choices based on the client's goals, health, finances, and preferences. Try: “Based on what you’ve told me, these are the two options I think make the most sense for you and here’s why.”
Your expertise is part of the value you bring to the conversation.
Clients sometimes assume they need enough insurance to pay 100% of the future care bill. But they don't. Extended care planning doesn't have to be all or nothing. A client may be perfectly capable of paying a portion of future expenses from retirement income or assets while using insurance to cover another portion. Even a modest benefit can help pay for several hours of home care, supplement assisted living expenses or reduce the amount a family needs to contribute.
Instead of asking, “How will you insure the entire risk?” consider asking: “How much of this risk do you want to retain, and how much would you like to transfer?”
That can make coverage considerably more approachable.
Self-funding is certainly an option, but it should be an intentional strategy rather than the absence of a strategy. If a client plans to use investments for care, ask: “How much would you like to earmark today for a future extended care event?”
Then take the conversation further. What will those investments be worth when care is needed? What will care cost at that time? What happens if the market is down when withdrawals are needed? Who will manage the money and coordinate care?
Insurance can create something investments alone cannot always provide: a predictable pool of benefits specifically designated for care.
Clients often think they can revisit extended care planning later. The challenge is that waiting doesn't just mean potentially paying a higher premium. It can mean losing the ability to qualify for coverage altogether.
A useful way to position this is: “You don't necessarily need to buy coverage today, but today you still have the opportunity to determine what you're eligible for.”
Prequalification can be an important first step. It allows the client to understand their options before making a final purchasing decision.
Never end a productive extended care conversation with: “Think about it and let me know.” Instead, establish a simple next action. That might be completing an intake form, conducting a health prequalification, reviewing two recommended designs, scheduling a follow-up meeting, or involving a spouse or family member in the next conversation.
For example: “Let's complete the prequalification process first. Once we know what you're eligible for, we can decide whether any of these options make sense.”
A smaller decision is often much easier than asking the client to make the entire decision at once.
Clients came to you for guidance. Once you understand their situation, it is okay to say: “Based on your goals, finances, and what you've told me about how you'd want to receive care, this is the option I would recommend.”
And explain why. A recommendation doesn't mean pressuring a client. It means using your expertise to help simplify a complicated decision.
Ultimately, moving a client forward isn't about creating urgency for the sake of making a sale. It's about helping clients make decisions while they still have choices. Extended care planning can provide more than money for care. It can give families direction, help protect retirement assets, provide resources when care is needed, and give clients greater control over where and how they receive care.
Not every client needs the largest policy. They need a realistic plan. Be patient. Sometimes the sales cycle can take years. Stay in contact with your clients through educational resources and make it easy for them to refer you to friends.
Don’t let, “I’ll think about it,” be where the conversation ends. Help your client turn uncertainty into a plan while they still have choices.