Over the last 6 months or so I have had many discussions with agents/reps. around the country asking them what is important to them and their clients lately. One answer continues to resurface time and time again: Long-Term Care and how to best address it.
It has been 20 years since “the Heyday” of the traditional LTCI marketplace, when over 40 carriers offered traditional Long-Term Care Insurance policies and the market was robust and strong (or so we thought). We all know how the story of that market surge ended, and for a while the discussion around LTC seemed to fade; however, over the course of the past year or so, there seems to be a resurgence of the topic among advisors and their clients who may not have purchased traditional LTCI, or who may have dropped their policy somewhere along the way.
Today’s LTCI market is heating up again, but this time with a different answer to help solve the dilemma for consumers. Today more than any other, there are multiple “Hybrid LTCI” solutions available; policies that are Life Insurance or Annuities at their core, offering the ability to use the proceeds to pay for LTC costs should they arise. Consumers find that they will receive a benefit from these policies regardless of their life circumstances, and they avoid paying premiums (and potentially increasing premiums) into a policy they may never use or need.
Wholehan Marketing continues our expertise in this arena, and we offer all of the available products with the knowledge behind each one to help find the best solution for your client. Give us a call and let us help you solve this missing piece of your clients retirement puzzle.