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Question 1 - What does LTC insurance pay for?

Preparing For Tomorrow podcast

Release Date: 01/09/2025

We need to focus on what we can control show art We need to focus on what we can control

Preparing For Tomorrow podcast

We're getting bad news from what seems like every direction these days. Governments and media are all talking about wars and destruction. But this is not new.  We've been through these kinds of events before, too many times, and we're still here and moving forward. We can't let panic, wars and market crashes control our choices.  These thnigs happen without our input. We can control our clarity, courage and conviction to stay on course. If you've been considering planning for future extended care needs, or if you've been working on your plan, don't stop now.  Too many find a...

info_outline Annuity LTC Client turned $100K taxable gains to tax-free income for LTC show art Annuity LTC Client turned $100K taxable gains to tax-free income for LTC

Preparing For Tomorrow podcast

Hello all,    I recently had cataract surgery in both eyes, and my eyes get tired if I look at the computer too long.  I need to take breaks while recovering. Instead of discussing shared and individual LTC annuities this week, I need to share an episode that was aired last summer. This will remind you how LTC annuities can help both protect your family if you need extended care and also eliminate all those gains on your non-IRA annuities you've been holding on to because you don't want to pay more in taxes.   LTC annuities have very few health questions and are more...

info_outline Stand-alone LTC - shared and individual show art Stand-alone LTC - shared and individual

Preparing For Tomorrow podcast

After reviewing planning strategies for hybrid or linked benefit LTC plans, this week we are comparing shared and individual traditional or stand-alone LTC plans. Yes, there have been rate increases on these plans, but over the last 20 years or so, traditional LTC plans have gotten much healthier.  Listen and learn how. When funding using income or on a budget, these plans can help families afford to get through an extended care need without bankrupting their loved ones.   It's easy to see that there are several ways to design and fund your long term care plan. Schedule some...

info_outline shared vs. individual LTC plan comparison - how do they work? show art shared vs. individual LTC plan comparison - how do they work?

Preparing For Tomorrow podcast

Anna & Marty compare shared hybrid life/LTC plans with separate LTC plans for each of them. It's a matter of preference and goals. The LTC and death benefit are directly related, so plans with higher LTC benefits have larger death benefits.  The death benefit acts as a return of premium if care isn't needed. The key differences in shared and individual plans is who can use the LTC benefits and for how long, who can be beneficiary, and when does the death benefit pay? Listen and learn how these plans differ and what Anna and Marty decided. Schedule an initial free consultation View...

info_outline Are shared LTC plans the same as Partnership plans? show art Are shared LTC plans the same as Partnership plans?

Preparing For Tomorrow podcast

This week, Jen asked if she and her husband can own a long term care plan together and share the benefits with each other. She asked what happens if one person uses all the benefits. And what happens if neither of them need extended care services. She wants to know if it would be better to have two separate plans or share one and can they be each other's beneficiary. She also asked if this is the same as LTC Partnership. Listen and then schedule with me to design a plan to protect your loved ones if you need extended care at home, in assisted living, in memory care or elsewhere See current...

info_outline This week, I'm talking to dads show art This week, I'm talking to dads

Preparing For Tomorrow podcast

This week, we need to pay attention that LTC is not just a women's issue.  It used to be more focused on women because we live longer and are more likely to live alone when help is needed.   Today, with so many divorces, we have a lot of single men who will also be living alone when help is needed.  But men are the providers for their kids and familiues.  There is no time to consider that you won't be providing. LTC insurance helps you continue to provide for and protect your kids, even if you can no longer provide for yourself.  It's hard to think and talk about...

info_outline Highlights from 2025 Sustainable Solutions: Future of LTC Financing show art Highlights from 2025 Sustainable Solutions: Future of LTC Financing

Preparing For Tomorrow podcast

This week, Diane shares what she learned while attending the 2025 Genworth LTC Symposium "Sustainable Solutions:  The Future of Long Term Care Financing". We all agree on the problem and wonder how long it will take for all parties (public & private) to agree on a solution. The links below provide info on who is supporting the Well-Being Insurance for Seniors to be at Home (WISH) Act. Please reach out to your Congressmen/women and ask then to support this Act as it will help our most vulnerable population while fostering a more vibrant and affordable LTC insurance solution. Schedule...

info_outline More people with memory concerns at younger ages - limits options severely show art More people with memory concerns at younger ages - limits options severely

Preparing For Tomorrow podcast

Government is talking about cutting Medicare and Medicaid funding while costs of care are increasing. Dementia used to be considered a mental defect, and people were hidden from the rest of society and not talked about publicly Today, we know tis is a disease that needs to be managed. We also know that younger people are developing memory concerns. The plus is that we're not afraid to talk about it anymore. The negative is that we're delaying the needed planning until it's too late to design meaningful planning strategies. Here are links to the resources I discuss in this episode. Alzheimer's...

info_outline Guest interview: Mike Simenstad with NGL - How LTC plans and planning has evolved show art Guest interview: Mike Simenstad with NGL - How LTC plans and planning has evolved

Preparing For Tomorrow podcast

This week, I interviewed Mike Simenstad, an LTC veteran with 34 years of experience working for several LTC carriers and distributors.  He currently works for National Guardian Life (NGL), a traditonal LTC company across the United States. Mike, and others in his role help me and other LTC specialists to be able to work smarter for our clients.  We all work together as a team to find the best solution for each family. Mike answers questions about tools/resources consumers use to research and why that can  get confusing.   We discuss actions people are taking today to...

info_outline I want to buy an LTC policy for my parents show art I want to buy an LTC policy for my parents

Preparing For Tomorrow podcast

We often hear from sons and daughters who want to buy LTC coveeage for a parent.  This could be to preserve a family home, to avoid Medicaid, or because they watched their parents care for their own parents for several years.  They don't want to go through that again. This works if the parent is still healthy enough to be approved by an insurance company. Different kinds of planning strategies are offered by different companies up to various age limits, and health questions differ as well. We can be pretty certain that Medicaid will be less accomodating in the future.  Learn...

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