Greetings, Dear Friends and Clients,
Jim and I hope you'll accept our best wishes for a happy, healthy holiday season and coming year!
Long-Term Care Insurance (LTCi) State of the Union
During the past year, LTCi sales have barely grown, despite the oncoming "Silver Tsunami" of Baby Boomers who will wind up needing lots of expensive long-term care. People who can afford to evaluate reasonably priced LTCi, continue to make excuses to avoid such conversations. Most continue to elect defaulting to the inevitable "panic, stress, emergency and catastrophe mode" that results when there is a need for long-term care, and not enough money to pay for it. The LTCi industry continues to be the a favorite subject for bashing from the media. There is lots of inaccurate, faultily researched mainstream media reporting on LTCi.
I've recently returned from attending the 10th National LTCi Producers Summit where I was a featured panelist in a session called, "Building a Successful Referral-Based LTCi Practice".
We fully expected the tone at the National Long-Term Care Insurance Summit to be a somber reflection of this.
Instead, the mood at the Conference was quite upbeat. Documentation of a great many LTCi claims being paid and the differences LTCi ownership makes were more abundant than ever.
The LTCi marketplace has contracted during this past year and there have been rate hikes. The LTCi industry has done its best to educate the public about why these inevitabilities occurred, and the fact that LTCi carriers and policyholders are actually much safer as a result. We haven't always been successful, but we continue our attempts to reach out to educate a public (and media) often unwilling to listen.
In addition, there is now a new, expanding, exciting generation of asset-based LTC products that are innovative, and have now come "of age" feature-wise. I like these products and have competence with them.
Last but not least, the need for prudent, wise, responsible LTC planning has not gone away. Instead, it continues to increase.
I have had a great many clients collect from LTCi policies I've sold them. I've seen the huge improvement in outcome LTCi ownership often creates. I am more passionate about the future of the LTCi industry than ever.
Do you have a friend or loved one who continues to make excuses for not planning responsibly for LTC? If you're like me, you know many such people!
Please refer them to www.honeyleveen.com, where they'll find comprehensive information on LTCi, including, but not limited to basic questions and answers about LTCi, links to the most reputable LTCi websites and videos.
For people interested in learning about long-term care funding and why the US government simply cannot and will not be able to pay for our care, blogs like "Medicaid is in big trouble, no matter which party wins," are useful, and can be found by visiting my blog, www.ltcqueen.com.
Do you need a policy review?
Are you unsure of how your policy works and what it pays for? Do you think you might need to collect from it? Please call me. I want to hear from you.
Do you have a friend who needs Long-Term Care Insurance (LTCi)? Does your group need a speaker? Call me for free information at no obligation, or visit www.honeyleveen.com.
My husband Jim and I wish you joy and happiness during this season, and the year to come.