16 Commonly Misunderstood Insurance Words

7 Jun

Underwriting, premiums, contestability period—terms like these can make insurance words seem like a foreign language.

Fortunately, a good insurance professional can help you make sense of it all. So can the definitions below. We explained them in recognition of Financial Literacy Month. Read on to understand some commonly misunderstood insurance words. More>>

The ‘Napkin Concept’ Showing LTCi’s Impact on Tax Planning

25 Mar

Guest contributor: Eileen Shovlin, regional director, sales, at Crump Life Insurance Services.

Many financial professionals don’t include long-term care insurance when tax planning with their clients. However, for clients in certain tax brackets, increased income to pay for extended care expenses could negatively impact their tax bill. More>>

2 Ways to Use the SECURE Act to Drive Planning Opportunities

13 Jan

Guest contributor: Ken Diltz, sales director, national accounts, with Crump Life Insurance Services.

Here are two simple ways to start the conversation about assets having enjoyed tax-deferred growth. As you help your clients analyze their needs into and throughout retirement, we often find that clients’ goals change, and we may have some of best solutions in the financial marketplace right now to meet the moment – delivering peace of mind, leverage and the relationship-building necessary to grow your practice into the future. More>>

Who are You Thankful for This Year?

23 Nov

Who are you thankful for this Thanksgiving? You likely have some relationships in your life that are extra meaningful. Perhaps you’re thankful for a spouse or partner? Or maybe your children? Or perhaps siblings, friends, or even coworkers?

Do any of those individuals rely on you for financial support? Do you have a spouse who relies on your income? Or perhaps minor children who depend on your financial means? More>>

Here’s What You Need to Know About a Long-Term Care Insurance Policy

16 Nov

So, you’ve made the decision to learn more about long-term care insurance. That’s smart, as neither health insurance nor Medicare would pay for extended long-term care services in the event that you needed them in the future. Plus, there’s about a 70% chance you’ll need some type of long-term care after age 65, according to government stats. And given that the cost of long-term care can quickly deplete your life’s savings, it just makes sense to add it your financial plan. More>>

Long Term Care Policy After COVID-19 – Solving the Nursing Home Crises

10 Nov

Nursing homes have been caught in the crosshairs of the coronavirus pandemic. As of early May 2020, Covid-19 had claimed the lives of more than 28,000 nursing home residents and staff in the United States.1 But U.S. nursing homes were unstable even before Covid-19 hit. They were like tinderboxes, ready to go up in flames with just a spark. The tragedy unfolding in nursing homes is the result of decades of neglect of long-term care policy. More>>

These Advisors Help Their Clients Tackle This Unknown Looming Cost

4 Nov

There’s an expense lurking down the road for many retirees that is largely unpredictable but likely: long-term care.

With premiums soaring on insurance policies designed to cover that cost, financial advisors are turning to a variety of other strategies to help clients prepare for a day when they might need help with daily living activities such as eating and bathing. More>>

Why Would You Buy Long-Term Care Insurance

2 Nov

According to a study revised in 2016 by the Urban Institute and the U.S. Department of Health & Human Services, when you reach age 65 you will have about a 50 percent chance of developing a health issue or disability that will require some long-term care service. Life expectancy suggests you will live well into your 80s, so what will be your plan to address the costs and burdens of aging? More>>

7 Ways LTCi Can Keep Your Client Out of The Nursing Home

17 Jun

Guest contributor: Rick Stewart is the Director, Long-Term Care Sales with Crump Life Insurance Services

Nursing homes have received a lot of attention recently, and not in a good way. According to analysis completed for the Foundation for Research on Equal Opportunity, 42% of all COVID-19 deaths are taking place in facilities that house 0.62% of the U.S. population. More>>