Course Description - CFP Board Course #253941
Countless research reports show that people over the age of 65 will need some form of Long Term Care (LTC) during their lifetime. These reports also show that a traditional, “plain vanilla” LTC insurance policy is the not right fit for all who are looking for quality care throughout their LTC experience, while also protecting their assets. Insurance companies raising rates on existing Long Term Care contracts do not give fiduciary-minded advisors a hall pass to bury their head in the sand and ignore this critical aspect of addressing a client’s overall financial plan. The LTC insurance industry has experienced substantial evolution during its nearly three-decade lifespan. That has been in order to meet the changing wants and needs of advisors and their clients who are looking to lock in premiums that increase. Advisors and clients also want unlimited contracts that will pay for extended care for 10 or 15 years, for lengthy battles with Alzheimer’s or other serious conditions. America’s senior population is growing dramatically, especially the “oldest old” – those over age 85. By 2050, nearly 20 million Americans will be over the age of 85. This presentation will provide an overview of the evolution of the long-term care insurance market, new solutions and concepts, and discuss legislation that provides alternatives which provide advisors and clients the choices they deserve. More importantly, it will provide advisors with actual strategies and solutions available to help clients create plans today that protect assets in the future and provide for a better quality of life when they need care.
Learning Objectives:
Gain a deeper understanding on insurance combinations for advisors and their clients looking for alternatives to long term care insurance (LTC insurance) policies.
Identify the value of LTC insurance by demonstrating successes and debunking myths.
Compare appropriate LTC plans that meet client needs and develop an LTC plan for clients using the most updated market research on contracts/policies available in 2021.
Communicate and address the risks associated with long-term care costs in retirement.
Primary Principle Knowledge Topic: Risk Management and Insurance Planning Level of Complexity: Intermediate
Instructor: Marguerita Cheng, CFP®
host: Lee Conti Jr.
NEXT DATE
TBD
Location
Online