These past couple of weeks, I have spend time in New Jersey meeting with agents, advisors, their clients, and the brokerage agencies who partner the OneAmerica.
One thing that continues to surprise me is the general disconnect with planning for a long term care need. Simply, most people instantly jump into a product pitch and don’t focus on pulling together a plan.
A policy is not the plan. A policy pays for the plan.
When a plan is in place, funding that plan becomes a matter of lining up the best product or products to accomplish that goal. So, take the time with your clients to understand their concerns about long term care / extended healthcare by focusing on the important part of their planning … who they intend to provide care, how that care will be managed, where it is desired to take place, and what resources they intend to utilize.
At OneAmerica, we have created an outstanding piece to use during a planning conversation… The Step-by-Step Guide to Receiving Long Term Care. This is my favorite piece to use to lead a long term care planning conversation as it shares information and resources without a heavy product pitch.
To me, the most important piece of the guide is the planning checklist toward the end. Check it out – The Step-by-Step Guide to Receiving Long Term Care
Consider this – you don’t build a house without a blueprint that includes how it will be wired and plumbed. Is your retirement savings and income strategy (blueprint) complete without including healthcare funding (after all, it is the biggest expense in retirement).
Use The Step-by-Step Guide to Receiving Long Term Care to help facilitate that conversation. Do the spouses agree on who they trust to manage their affairs when they are unable to? What happens if their plan includes their children providing care but the closest child is 1,000 miles away? Where do they want to spend the twilight of their lives? Are their intentions written and in place including a will, durable power of attorney, etc?
At worst, these conversations force the conversation. At best, they result in a plan that minimizes the impact on their family, friends, and legacy.
Remember, we want to earn your business please contact us with your next long term care case – you can reach me via email at kevin.fisher@oneamerica.com or call me at (678) 512-9627. Or, your can speak with my internal Justin Fox by calling him at (844) 658-3725.
Fridays with Fisher 
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