I spoke on a well-attended panel on branding. Clockwise from upper left: me, Denise Lott, Marilee Driscoll, Betty Doll.
I've just returned from the
largest long term care insurance (LTCi) conference in the world and my head is still spinning from all the fantastic speakers and conversations I experienced and participated in. Throughout the week, I mingled with about 1,000 actuaries, claims people, insurance regulators, top management and marketing colleagues.
I am happy to report that the LTC insurance industry is alive & kicking and in solid financial condition. The industry has found an additional boost with the introduction of new LTC products that are asset-based. Known as "combo" or "hybrid" products, these solutions are helping more and more people find ways to protect their future.
What has not changed over the years is #1: people postpone or even avoid purchasing this important coverage and they just don't believe that they could need help in their later years. #2: they convince themselves that the government will pay for it if they do. #3: LTC insurance is often portrayed in the media with an undeserved negative "spin". If an article describes a family's tale of hardship, the fact that their LTCi coverage actually helped gets buried. LTC is truly the Rodney Dangerfield of insurance!
The need to protect ourselves from the high risk and high costs associated with LTC is not going away. In fact, the need is growing as the Boomers age. For most of us, there is still no better way to fund long term care than with insurance. Fortunately, the LTC insurance industry remains committed to offering excellent policies at reasonable cost.
There is still no substitute for the dignity, choices and access only LTC protection provides!
Usually, even with the rate hike, your policy is below current market price. Clients find it highly useful to discuss what causes rate hikes, how they occur, and how likely there'll be more in the future. If necessary, I can help you find optimal ways to downgrade your coverage while keeping it highly effective.
Do not tamper with your policy until we've spoken! If you need to discuss your LTCi rate hike, please email or call me.
Spreading the Word about LTCi
I very much enjoy invitations to give accurate LTC information to the public. Contact me if I can offer LTC education to your professional, civic, or church group.
Click here to read more about my public speaking references.
The Queen, by Self Proclamation, of Long-Term Care Insurance