This is something that I often say, in Fridays with Fisher releases and during meetings, “there are two plans – default and decision. And, every plan is always fully funded by default.”
What’s this mean?
Simply, that the default plan – which is no really plan but a reaction to an illness or injury that triggers an extended healthcare event – is fatally flawed. Simply, it is the “ostrich in the sand approach” where the hope is that nothing happens and if it does, that there are resources (people, money, and programs) that will address the need.
We all have this plan.
As I mentioned earlier, planning for this type of situation is vitally important and the Step by Step Guide is one tool to help open the discussion with any consumer.
One thing that we often lose sight of is that most people do not understand the potential impact a long term care event can bring. As part of a long term care awareness program/campaign/initiative/conversation, offering a perspective to a consumer that is “real” is a vital first step to starting a conversation.
We have developed a consumer & producer campaign called “the Great Retirement Income Gap“. Simply, “the Gap” appears when an extended healthcare event occurs and carries the heaviest impact to consumers who lack a plan. Take a look at this recorded webcast of The Great Retirement Income Gap.