Many clients without children who contact me about LTC insurance are planners. Without adult children to turn to for support, they want a clear plan for coordinating and paying for care.
What to know
- Informal care: Many older adults rely on their adult children for care, especially when care needs first arise.
- Professional care: LTC insurance benefits help fund paid caregivers when adult children aren't available to help.
- Care coordination: Many policies offer services to assess needs, develop care plans, recommend home modifications, identify providers, and monitor care as needs change.
Planning implications
Clients without children need a clear plan for who will provide and coordinate care, since they cannot turn to adult children for support. LTC insurance should be part of that discussion.
For these clients, care coordination deserves more attention when comparing LTC policies. The scope of support varies, so I like to compare both the services each program provides.
When to raise this with clients
- When clients in their 50s or 60s without children begin planning for future care needs.
- When a client plans to hire caregivers but hasn't considered help selecting and coordinating them.
Bottom line
For clients without children, LTC insurance can help fund professional care and provide guidance for arranging it.
Client resources: I publish short videos and articles explaining long-term care concepts for your clients.
Work together: I'm a long-term care specialist. In addition to articles like these, I help financial professionals evaluate coverage options for clients. Reply or schedule time to refer a client or discuss a case.
Best,
Jesse Vickey
Long Term What?
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