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Long Term Care - Insurance Diva

Kim Kelly, CLTC, guest blogger
Long Term Care Associates, a locally owned Eugene company, consults with people who are concerned about the future cost of long term care and how it might affect their families should they themselves need care.
95% of our clients have cared for a relative and they tell us they just couldn’t cope. Having a good long term care policy in place helps everyone cope gracefully. Since Medicare does not pay for this, it leaves people little choice but to use their own money for care or to have a policy in place to mitigate risk.

How the business is changing:


Several things have transpired over the last couple of years that will positively impact sales. First, Baby Boomers are turning 65 at an alarming rate and, having already cared for a parent, are acutely aware of the need. Second, people can “protect” assets from spend down (in order to qualify for Medicaid) equal to the total benefit of their Long Term Care policy. In this way they can indeed have assets to give to their kids or grandkids instead of having to spend it on their own care. Third, with the implementation of the Pension Protection Act, people who already have an annuity or whole life insurance can exchange their existing plan for a new one that has a long term care rider. It’s a way to “double duty” their money.

How we use technology:


Communication between the agent and the carrier is now automated. If something occurs on the file, we immediately get an email notifying us of that. I personally use email marketing to clients once a quarter and the same with the Advisors I work with. I also use a card service that personalizes a greeting card, writes it and mails it – all for under a buck. I usually get three calls every time I send cards out. The messages are unique, so they hang around for quite some time.

Summary:


Long Term Care insurance is a fairly complicated product and the choices a client makes today can impact her 20-30 years down the road. It is highly consultative, requires more time than most other insurance products (on both parts!) but a good plan can literally save the entire family from melt-down due to the stress of caring for a relative and can preserve assets for future generations.

Kim Kelly, CLTC
Long Term Care Associates
Licensed in Texas and Oregon
Phone: 541-222-9020
Website
kim@gmail.com
Offices in Springfield and Eugene

Image Credit: Cheap Full Coverage Auto Insurance
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