November is LTC Awareness Month. NOW is the time to act!
November is Long-Term Care Awareness Month and the perfect time for you to proactively connect with your clients and prospects, educating them and their families about the vital importance of having a comprehensive plan to address future health and personal needs.
Long-Term Care (LTC) encompasses a variety of services designed to assist individuals with their personal care needs over an extended period. This type of care is often essential for those dealing with chronic illnesses, disabilities, or conditions that hinder their ability to carry out daily activities. Regrettably, many individuals are not fully aware of the various types of long-term care options available, ranging from in-home care services to skilled nursing facilities. Regardless of the type of care needed, long-term care expenses can be substantial, and Medicare typically does not cover these costs. By planning ahead one can significantly reduce the financial strain that may arise later in life. In fact, a recent survey found that 96% of Americans believe it’s essential to plan for long-term care before it’s needed.
Thankfully today, there are several different types of Long-Term Care insurance (LTCi) products available that can contribute to a robust plan for long-term care protection. For example, there are:
Stand-alone LTC Insurance policies
Permanent Life Insurance policies with LTC Riders
Hybrid Products or Asset Based (LTC policies with usually a smaller death benefit)
Annuities with LTC Benefits
These policies offer invaluable benefits such as:
Asset Protection: For a small investment, your clients can avoid the need to liquidate their assets in the event of an LTC requirement.
Peace of Mind: This coverage can relieve the burden on your clients’ children, preventing them from becoming primary caregivers.
Maintaining Quality of Life: Ensure that your clients can continue to enjoy their desired lifestyle without compromising on their goals, desires or needs as they age.
Any of these products should be included as part of a comprehensive plan to meet future health and personal needs. The right choice will depend on your clients’ objectives and budgets.
We are here to assist you and your clients in making informed decisions about their long-term care planning. To get you started in having LTC conversations with your clients. Attached you will find a collection of informative pieces created by Nationwide that you can use.
Let's work together to ensure they are prepared for whatever the future may hold!