No well-planned retirement should be without long-term care insurance.
It is the very cornerstone of retirement security.
– Suze Orman

This November, make the most of Long-Term Care Insurance Awareness Month by having the LTC conversation with clients and prospects.

Everyone has a long-term care story. Even if LTC hasn’t touched their own family directly, most people know someone who’s faced a serious medical condition — and the financial pressures that follow.

Michael LaMarche, president of LaMarche & Associates in O’Fallon, Missouri, recently shared his personal story with us:

“I tried to get my grandmother to purchase long-term care insurance,” Michael said. “She was in a position where she could, but she chose not to do so.”

Sadly, by the time Michael’s grandmother did indeed need long-term care, it was too late to do anything to help with this need. That meant that, instead of inheriting a large estate, Michael’s mother (his grandmother’s sole heir) inherited a large stack of bills, headaches and heartache.

Numbers and Needs

Did you know it’s estimated that someone turning age 65 today has almost a 70% chance of needing some type of long-term care services in their remaining years? And that nearly half of older adults receive some paid care over their lifetime?¹ What’s more, the financial burden of long-term care is just one of many considerations. The impacts can extend far beyond dollars, affecting the careers and personal lives of your clients, their families or unpaid caregivers.

Passion and Persistency

Michael uses his own family’s long-term care predicament to educate his clients on the subject, both when they first become clients and every year during their annual review.

Such persistence does pay off, he says, citing this recent victory:

“I have clients who come in every year for a review,” Michael said. “Every year, I ask them about long-term care and, after five years, they have finally said yes to obtaining protection.”

Resources at the Ready

We can help you tell the long-term care story. Click here to access AE’s suite of LTC materials, including:

• Brochures
• Seminar slides
• Radio commercial
• One-sheets / LTC stats
• Questionnaires
• Consumer-facing video
• … and much more

In addition, our LTC team will be in touch soon with information from our LTC carrier partners that can help you protect your clients from their own LTC predicament.

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¹Richard W. Johnson. Office of the Assistant Secretary for Planning and Evaluation. April 3, 2019. “What Is the Lifetime Risk of Needing and Receiving Long-Term Services and Supports?” https://aspe.hhs.gov/reports/what-lifetime-risk-needing-receiving-long-term-services-supports. Accessed Oct. 5, 2021.

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