The DI and LTCI Blog - Your Source for Sales Tips and Advice

Vincent Benitez

Recent Posts

Do Your Clients Know Their Kids Could be On the Hook for the LTCI Expenses?

Posted by Vincent Benitez on Tue, Mar 5, 2019 @ 13:03 PM

A lot of people don’t plan for long-term care. Maybe they think they don’t need it – even though, according to the U.S. Department of Health and Human Services, 65-year-olds have a 70 percent chance of needing long-term care at some point.

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Topics: filial responsibility, LTCi expenses

Using Health Savings Accounts to Pay Long-Term Care Insurance Premiums

Posted by Vincent Benitez on Wed, Jan 30, 2019 @ 09:01 AM

Long-term care is expensive, which is why there’s long-term care insurance. But there’s a catch – paying the premiums for long-term care insurance can also strain a person’s finances. That’s the bad news; now for the good news. If your clients have a Health Savings Account (HSA), they can use the funds to pay for long-term care insurance premiums. Even better, they can do this tax-free.  

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Topics: long-term care insurance, health savings accounts

3 Confusing Myths About Long-Term Care Insurance

Posted by Vincent Benitez on Tue, Jul 31, 2018 @ 08:07 AM

The Pew Research Center reports that 64 percent of adults agree false and misleading news articles creates confusion. Elections and politicians are not the only victims of misinformation and myths. For years, long-term care insurance has been thought of as a nursing home benefit. While most long-term care policies cover such care, today’s products and claims include broader benefits. Here are three misconceptions your clients may have about long-term care insurance.

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Topics: long-term care insurance, myths about long-term care insurance

Women and Long-Term Care: The Triple Threat

Posted by Vincent Benitez on Wed, May 30, 2018 @ 13:05 PM

The family budget and handling of day-to-day financial decisions commonly involves both spouses. But when it comes to long-term financial decisions, research shows the majority of married women defer to their husbands.

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Topics: long-term care insurance, women and long-term care

New Long-Term Care Insurance Video Shows Agents How to Address LTCI Price Objections

Posted by Vincent Benitez on Thu, Apr 5, 2018 @ 16:04 PM

Long-term care insurance is a tricky topic. It’s easy to make the case that it’s needed, but much harder to convince prospects that it’s worth the price. That’s why our recent article “Is Long-Term Care Insurance Worth It?” was so well-shared. It made an objective case for LTCI’s value and strong return – something many agents hadn’t seen before.

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Topics: long-term care insurance, ltci price objections

Overcome LTCI Price Objections in Three Steps

Posted by Vincent Benitez on Thu, Mar 8, 2018 @ 12:03 PM

Sales professionals have a love-hate relationship with client objections. On one hand, an objection is an opportunity to take the conversation further. On the other hand, objections can create fear, unease, and stress … if you don’t know how to handle them.

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Topics: ltci price objections

Is Long-Term Care Insurance Worth It? Surprising Facts

Posted by Vincent Benitez on Mon, Dec 18, 2017 @ 09:12 AM

$255.1 billion. That is the staggering amount Medicare and Medicaid paid in 2016 for long-term care. Home health care accounted for $92.4 billion; $162.7 billion for nursing home care and continuing care in retirement communities.

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Topics: long-term care insurance

LTCi at a Glance: What are ADLs?

Posted by Vincent Benitez on Thu, Sep 21, 2017 @ 09:09 AM

The six Activities of Daily Living (ADL) are: Bathing, Dressing, Toileting, Continence, Transferring, and Eating. A person who needs Substantial Assistance performing at least two of these activities for 90 days or more is considered to be eligible for long-term care benefits by most insurance companies. Tax-qualified plans must apply this standard. A medical professional determines the ability to perform ADLs.

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Topics: adl, activities of daily living, ltci at a glance

Tell Your Clients About Potential LTCI Tax Deductions

Posted by Vincent Benitez on Fri, Sep 8, 2017 @ 14:09 PM

Without long-term care insurance, an individual is in effect, self-insuring for the possibility of long-term care. Self-insuring puts retirement income is at risk, may require illiquid assets to be liquidated, and the value of equities might be compromised when sold in a low market to cover expenses. Without long-term care insurance, couples should be prepared to accumulate $200,000 - $400,000 to pay for long-term care expenses.

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Topics: long-term care insurance, ltci tax deductions

LTCI at a Glance – Elimination Period Variations

Posted by Vincent Benitez on Tue, Jul 25, 2017 @ 11:07 AM

The Elimination Period: Calendar Days or Service Days

The Elimination period is the number of days an individual is responsible for self-funding a qualified long-term care event before benefits begin to be paid. It’s similar to a deductible but measured in days either as service days or calendar days. Calendar days are the number of consecutive days following the day the insured is eligible for benefits. Service days are the number of days an individual incurs out-of-pocket expenses. Service days do not have to be consecutive.

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Topics: long term care insurance elimination period