I ask all of my clients to conduct a full insurance audit. Do they have adequate casualty insurance? Did they tell their agent or broker about their new kitchen or pit bull or baby? Are they relying on employment benefits as their primary source of disability and life insurance?
And all of my clients, regardless of age, are given information about long term care insurance (LTCI).
When I met Lee Abel, she told me the story of her first encounter with someone needing long term care. She was a young girl riding her bike in the neighborhood and saw an elderly man in a dark suit and slippers shuffling down the middle of the street. As she got closer he pleaded with her, “Do you know who I am, do you know where I live?”. She did not, but that encounter never left her. I tell this story because Lee understands the challenges of aging and is a strong proponent of preparing well in advance for future long-term care needs.
Lee is an educator and an independent long term care insurance advisor and works with a variety of companies and products to find the right match for each individual.
Lee recently alerted me that a trusted LTCI carrier is having a substantial rate increase in 3 weeks on new applicants. Now is an excellent time to look at this unique hybrid plan, protect your family, and save money. With lifetime long term care benefits for one or two people, a death benefit, and premiums that cannot be raised in the future, this is truly a smarter way to self-insure. Unlike regular long term care insurance, there will always be a benefit provided, either a tax-free long term care benefit, a tax-free death benefit, or both. Now is the time, hop off the fence, get the facts, and understand for yourself if this policy can benefit you and your family.
Whether considering for yourself or your parents, long term care insurance can be an excellent component of risk mitigation, tax planning, and peace of mind.Published in