Qualifying for Long-Term Care Insurance: The Importance of Discussing LTCI with Clients Before It's Too Late

• Date: 01 September 2023
• Author: Don Levin, J.D.

Bifocal September - October 2023Vol. 45, No. 1

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When they hear the term long-term care, most people

think of a nursing home—a place most want to avoid.

The reality is most long-term care takes place in the

home, allowing individuals to stay where they are most

comfortable. Long-term care insurance (LTCI) makes

it a lot easier to receive professional care at home,

however, the key is to purchase LTCI before it’s too

late. Clients need to view long-term care as an event

to plan for, rather than a place to avoid. Planning ahead



and helps clients avoid depleting their life savings or

exhausting loved ones.

Paying for Long-Term Care



additional amendments to the Social Security Act in

1974 set standards for long term care facilities and

increased the cost of inpatient care. Medicare pays for

a very limited amount of long-term care; Medicaid

became the payor of last resort when families had

spent through their life savings. Many insurance

companies launched private long-term care insurance

products, providing individuals the option to mitigate

the risk of paying for long-term care.

Long-term care insurance has been around for almost

Qualifying for Long-Term Care Insurance:

The Importance of Discussing LTCI with Clients

Before It’s Too Late

By, Don Levin, J.D.

Something to Think About