Long-Term Care
Longevity Planning
Helping clients plan to live their best lives.
Longevity Planning is Extended Healthcare Planning
Longevity planning has a variety of insurance strategies in today’s marketplace. While there are differences that can be important to each client, all options can provide money at the time of a long-term care need to pay for home healthcare, assisted-living care, or nursing facility care.
Client Demographics
While the majority of clients should have the extended healthcare planning conversation, there are a few types of clients that stand out:
Solo Agers: Any clients who are single, divorced, widowed (or more likely to become so because of age gaps), unhealthy partner, etc.
High-Net-Worth: Clients who are likely to have higher care costs because of their lifestyles and expectations, and want to leverage their dollars.
Caregivers: Clients who have been caregivers for others in their family/circle of friends understand the need and how providing care can affect those caregivers.
Planners: Those clients who like to have a plan in place, and those who want to preserve their assets to pass on.
Why Your Clients Want the Conversation
Preserving independence
Having a plan in place before an event changes their lifestyle can help clients preserve their independence and choice of care settings.
Access to quality care
Having a dedicated stream of income when care is needed, and the ability to hire caregivers or a home care agency to help within the home. Concierge care benefits help find the caregivers, relieving some of the stress.
Flexibility
Having a variety of insurance strategies available with funding options that can fit most clients’ plans. Whether they have a need for an ongoing premium, can pay up their plan with a limited payment stream, or fund it via a 1035 exchange.
Maintain family harmony
When wishes are laid out in advance, the family has a roadmap to follow. Having a plan that will provide income at time of need helps reduce family conflict around money and care costs.
Tax efficiency
Many insurance strategies provide income-tax-free benefits for long-term care needs.