Your clients see you as a trusted advisor. You’ve met with them, listened to them, and worked with them to find solutions for their insurance needs. The health insurance you’ve found for them solves the issues they have now. If you’ve discussed life insurance with them, you’ve taken care of their loved ones after your clients are gone. But what about meeting their needs if they need to be taken care of as they age?
Approximately 70% of Americans who reach age 65 will need some long-term care during their remaining years. And, unfortunately, that care can cost a lot. The annual cost of home health care in Minnesota is about $84,000. Similarly, the average cost of assisted living in Minnesota is just under $65,000. These figures are certainly not an anomaly. Costs in other states are all similar — some less, others more.
If your clients aren’t already planning for potential long-term care needs, they should start now. They may or not need it, but it is far better to have the money necessary rather than have the need and not have the resources to pay for it.
Beginning a long-term discussion isn’t easy. Nobody wants to talk about getting weaker nor their demise. But it is a necessary conversation, especially since Medicare and most other insurance (including Medigap) don’t pay for long-term care.
Long-term care planning falls within four general categories:
- Children will provide for needs
- State will provide for needs
- Money is already set aside
- No plan is made
LeClair has joined with AnnuityVip to be our exclusive annuity partner. We are hosting a series of webinars on the fourth Wednesday of each month to demonstrate the benefits of annuities as a long-term care solution. The next webinar is scheduled for April 24, 2024 at 11:00 AM CDT. In this webinar, we’ll discuss retirement income planning. Click the registration button below to get in on this informative session!
The team at AnnuityVip knows it may seem difficult to “sell” these products, but if you position them as a way to solve their needs and meet their goals for financial stability when they may need long-term care, your clients will recognize the importance of having a plan.
Plus, AnnuityVip has made the process incredibly easy. You can either take care of the sales yourself and earn the full commission or, if you choose, AnnuityVip will take care of everything and split the commission with you.
If you have questions, reach out to your Sales Relationship Manager or call LeClair at 651.739.2010.
