Long Term Care Insurance (LTCi) is an important component in protecting your clients' future financial well-being. By assisting your clients with this decision now, you're helping to prevent potential long term care expenses from impacting their family down the road.

Long term care includes a wide range of services and support that your clients can receive in their home, a nursing home or assisted living facility. The need for long term care can occur when health begins to decline or an unexpected medical crisis arises. The loss of at least two activities of daily living (ADLs) or cognitive impairment can result in the need for expensive and substantial care.

By purchasing an LTCi policy, your clients can have peace of mind that should a long term care situation occur - they have the flexibility to select high-quality care while protecting their family's assets.
LTC FACTS
  • Having an accident or chronic illness that causes a disability can result in needing long term care1
  • More than 15 million Americans provide unpaid care for people with Alzheimer's or other dementias2
  • Medicare does not pay for non-skilled assistance with activities of daily living (ADLs), which make up the majority of long term care services3
  • LTCi pricing today has a demonstrably lower risk of facing future rate increases4
  • 71% of claimants would be forced to reduce care if they did not have LTCi5
  • Individuals with LTCi receive 35% more hours of care than those without5
  • If an individual invested the value of the average LTCi premium for 22 years, it would accumulate to pay only six months of care. However, by putting the same amount into LTCi premiums, the policy would cover more than three years of care6
  • Caregivers for LTCi claimants experience less stress in finding appropriate services for their family members because of assistance from care coordinators provided by insurers6
  • The services paid for by LTCi enables family members to spend less time on administering care and more on social interaction with their relatives, improving the caregiving experience6
  • Most claimants agree that LTCi enhances access and flexibility as they seek to obtain the services of their choice6
LTCi ARTICLES
1Source: LongTermCare.gov https://longtermcare.acl.gov/the-basics/who-needs-care.html, February 2017
2Source: Alzheimer's Association http://www.alz.org/facts/overview.asp#quickFacts, 2017
3Source: LongTermCare.gov https://longtermcare.acl.gov/the-basics/who-pays-for-long-term-care.html, February 2017
4Society of Actuaries, Long Term Insurance: The SOA Pricing Project http://www.lifecareassurance.com/_pdf/ltc-pricing-project.pdf, November 2016
5Source: American Association for Long Term Care Insurance http://www.aaltci.org/ltc-marketing/sourcebook/2015.php, 2015-2016
6America's Health Insurance Plans. "The Benefits of Long-Term Care Insurance and What They Mean for Long-Term Care Financing". https://www.ahip.org/wp-content/uploads/2014/11/LifePlans_The_Benefits_LTC_Insurance_Report_2014.pdf, November 2014