52% of people age 65 will need some form of long term care?
This number still indicates that there is a significant risk that an extended healthcare event will occur at some time. I don’t really care which statistic that you like (70% or 52% or something otherwise).
It comes down to this – you have a 100% certainty of either needing care or not. There is no middle ground – either you need it or you do not.
Whether you address that need is the real issue. That is why the Care Solutions portfolio exists – to provide a leverage solution to fund an extended healthcare event.
Here is a point hat I like to make when I meet with producers. Ask your clients the following:
“If you were needed to pay for an extended healthcare event, how would you do it today?”
The objective is to learn what their existing plan is. Most importantly, the identification of their funding strategy. Specifically, what resources will be utilized?
Will they tap into income, liquidate CDs or savings, take distributions from their investment portfolio, pull money from their qualified plans or deferred annuities?
Consider this, each and every one of these resources has one thing in common – they are finite. Simply, they can run out. On top of this, many of these resources create taxable distributions.
This is where the value of the Care Solutions portfolio lies – leveraging existing into tax-free long term care benefits that can last a lifetime.
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