It’s that time of year again – Long-Term Care Insurance Awareness Month.
Every year, Long-Term Care Insurance Awareness Month is observed during November. While people in the United States are giving thanks for everything they have, insurance agents can help spread the word about something many people don’t realize they need. To help you take advantage of Long-Term Care Insurance Awareness Month, there’s a lot of great information and resources at your disposal.
Spread the Word
If more people knew the truth about long-term care, there would probably be a lot more people with long-term care insurance.
- People who are 65 years old today have a 69 percent chance of needing long-term care at some point, according to the S. Department of Health and Human Services.
- The average length of care for any long-term care service is three years, and 20 percent of people will need care for more than five years.
- Women have an even greater need for long-term care. They tend to outlive men, which means they are more likely to live alone in their retirement years. They also need care for a longer period of time on average.
- Long-term care is expensive. The average cost for a semi-private room in a nursing home is $6,844 a month, while a month at an assisted living facility costs $3,628 on average.
- In-home care is expensive, too. A health aide charges about $20.50 an hour.
- Health and disability insurance don’t typically provide coverage for long-term care insurance. This includes Medicare. Under Original Medicare, only medically necessary, skilled nursing care is covered, and only for a limited length of time.
- Under state filial laws, adult children could be left on the hook for their parents’ long-term care costs.
Despite the clear importance of long-term care insurance, many people lack coverage. The 2019 Insurance Barometer Study conducted by Life Happens and LIMRA found that only 15 percent of people surveyed say they own long-term care insurance.
Use the Resources
Life Happens has some great Long-Term Care Insurance Awareness Month resources. Some resources may require a Plus or Premium account.
- Real Life Stories are a great way to drive home the true importance of long-term care insurance.
- Videos are a great way to educate others on long-term care insurance. Life Happens has multiple videos on long-term care education, as well as Real Life Stories that will leave a strong impact.
- Social Media Calendar and Graphics provide an easy way to keep your social accounts active during Long-Term Care Insurance Awareness Month.
- General Education resources include flyers and brochures that you can share with clients and prospects.
DIS also has many great tools to help you. See the selection below and contact me anytime if you have questions.
- The DIS LTCI Broker Opportunity Kit
- The Ultimate LTCI Sales Script
- The Ultimate LTCI Case Design Resource
- Multi-Life LTCI Case Study
- Client Handout: Is Long Term Care Insurance Worth It?
- Client Handout: 10 Facts to Know About Long Term Care
- Client Handout: 5 Reasons to Secure Long Term Care Insurance Now