Long Term Care Insurance
Long term care insurance helps to provide for the costs associated with home healthcare, assisted living facilities, and nursing home care that is not typically covered by health insurance, Medicaid, or Medicare. We help agents to provide meaningful long-term care insurance choices for their clients. Long-term care insurance minimizes the stress and financial pressure experienced by families in crisis situations, allowing the focus to be on getting the patient the right kind and quality of care.
Who Needs LTCi?
There’s a myth that the elderly are the only ones who need protection, leading many to put off the purchase of LTCi. Research, however, shows that 40 percent of the people who will need long-term care services during their lifetime are between ages 18 and 64. Therefore, long-term care insurance is a product for everyone. Qualifying for long-term care insurance when you’re younger and more likely to be healthy is strongly recommended. No one knows when or if a long-term care event will impact you, but you can protect your future by purchasing insurance to manage that risk.
Did you know that someone reaching age 65 today has a 70 percent chance of requiring long-term care services at some point in time? According to LongTermCare.gov, women are likely to need longer care (3.7 years on average) than men (2.2 years on average.) Research also shows that 20 percent of individuals aged 65 will need long-term care services for longer than five years.
There’s a saying that if you go without a long-term care insurance policy, you’re self-insuring by committing all of your assets to a potential long-term care event in the future. If you could help clients protect their legacy and their life’s savings by presenting them with the option of a long-term care insurance policy, you’d be helping to address a big need in the market.
Fast Facts on LTC
- The national average cost for an assisted living facility was nearly $51,000 for one year in 2014.
- A semi-private nursing home room has an average annual cost of more than $85,000.
With increasing longevity, long-term care has never been as important as it is today. Most people do not realize that their health insurance and government support programs are unlikely to meet the needs of a person after just one long-term care event. The costs of being in a nursing home can cause an individual or couple to spend through their life’s savings quickly, putting other family members under unnecessary stress. Medicare, for example, covers less than 18 percent of the long term care costs today.
That’s where you come in as a long-term care agent. You can help provide financial security and peace of mind for your clients by helping them research and select an appropriate long-term care insurance policy. You can help potential clients qualify now, well before they have a long term care event.
Why Become an LTCi Insurance Agent Now
Now more than ever, those approaching retirement and their adult children are aware of the risks of going without long-term care insurance. More people have the experience of watching a loved one’s health and financial condition deteriorate due to a long-term care event. As an agent, you can be a part of the solution by helping your clients identify a policy and secure their future.
Why T.R. King Insurance Marketing?
As an insurance agency, we understand that you have a choice regarding who to do business with. We know that you and your clients are important, which is why we make the process as easy as possible. We work with the best insurance carriers on the market for long-term care, giving you an array of top choices when presenting a quote to your clients.
We know the value you provide to your clients, and we’re privileged to be a part of the solution alongside you. If you’re ready to start selling long-term care insurance, or if you’ve been working with another agency but you’re ready to work with a team committed to help you succeed, contact us today to learn more about our long-term care insurance offerings and how we work with agents. Contact us at 1-540-400-6275 or 1-800-590-7207.