The average amount of time a person will spend in a nursing home is 3 years. Long-term care costs have doubled over the last 20 years, and projections estimate that 20 years from now, a 3-year stay in a nursing home would cost more than $500,000.
There’s a 68% chance a senior over the age of 65 will need some kind of long-term care. Have you prepared your clients for this financial risk?
Traditional long-term care insurance is expensive, historically has significant rate increases, and your client may never even use it.
A life insurance policy with a long-term care rider will be used no matter what – either as a death benefit when your client passes or as a long-term care benefit your client is living.
Life insurance with an LTC rider has no rate increases and many clients like the option to pay it off early with a 10 or 12-year payment plan.
Learn everything you need to know to start selling life insurance w/ an LTC rider to your senior clients in our live webinar training on Thursday, June 17th at 2pm CT.
You can check out the sources for the listed statistics on our What’s Your Long-Term Care Solution? client handout.
