National Long-Term Care Awareness Month is observed in November and will be here before you know it! AE Life is here to help you create awareness with your clients about the potential myths and costs associated with long-term care and to help provide solutions using life insurance that can also assist with the cost of long-term care expenses while protecting retirement income. In November, we’ll share information and resources to empower you to begin the discussion of long-term care with your clients.

Everyone has a long-term care story. Even if it hasn’t happened to their own family, your clients most likely know someone who has been affected by the costs associated with a serious medical condition. Someone turning age 65 today has almost a 70% chance of needing some type of long-term care services in their remaining years.¹ The median cost of nursing home care in the U.S. is currently $100,375 a year, and by the year 2038, it is estimated to be as high as $181,288.^²

There are a lot of misconceptions in the marketplace about paying for long-term care costs and a growing number of options to help fund that care, including the use of life insurance. The right solution can provide flexibility and control to your clients while potentially reducing the emotional and financial stress associated with long-term care.

Your clients may recognize the value of purchasing life insurance to help protect their family if they should die, but it can be just as important to protect their income and financial independence while they are still alive. The combination of life insurance with a long-term care (LTC) or Chronic and Critical Illness (CCCR) rider can be a cost-efficient way to help clients plan for the future.

Be on the lookout for AE Life’s Long-Term Care Awareness Month materials in November, and be sure to check out our long-term care brochure HERE and long-term care postcard HERE. Call me today to learn how to start conversations with your clients about long-term care.

¹ LongTermCare.gov. U.S. Department of Health and Human Services. “How Much Care Will You Need?”  https://longtermcare.acl.gov/the-basics/how-much-care-will-you-need.html. Accessed April 4, 2019.

² Genworth. Genworth Cost of Care Survey 2018. https://www.genworth.com/aging-and-you/finances/cost-of-care.html. Accessed April 4, 2019.

Life insurance policies are contracts between your client and an insurance company. Life insurance product guarantees rely on the financial strength and claims-paying ability of the issuing insurer.