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Response to "The Risk of Failing to Plan for Long-Term Care Costs" (ABC News, July 1, 2014)


It's so amazing to me that in my 26th year in the long-term care insurance business, the myths continue to prevail, even from well-meaning people like the fee-based financial advisor who wrote the subject article. She has extended credentials, has written a dissertation on helping women plan for retirement and even has an internet radio show on financially empowering women. Yet, the tagline below the opening picture shouts:

Women have a 50% chance of needing nursing home insurance, yet many fail to plan for this expense.

Then the second paragraph hits you in the face with it again:

The financial risk that comes from this is greater for women than for men. Studies examining demographic data for all Americans – men and women – show that 30 to 50 percent of people who reach age 65 will eventually need long-term care in a nursing home. These studies have found that almost 50 percent of all women in the U.S. will need this care.

Portraying planning for long-term care as buying nursing home insurance is like saying most people will be killed by a sniper so we had better sign up for sniper-prevention school. First, who would believe this statement, and second, who would ever want to attend a class like that? The fear factor alone is paralyzing!

In other words, "Please sell me something that will pay for me to go to the LAST PLACE ON EARTH I WANT TO BE."

As those of you who are familiar with my work have heard me say thousands of times: "Long-term care insurance is NOT nursing home insurance for old folks" and touting it as such causes people to RUN, not walk, away from you.

  • Good news: Most people will never be in a nursing home (less than 15% of people who need LTC are in a nursing home)
  • However, home care at $20 an hour can cost as much or more than nursing home care, depending on how much you have.

Me? I'm opting for the country club assisted living facility – it costs less than intense home care or nursing home care AND they cook for you, clean your living space, do your laundry and there's no yard work. What's not to love? Especially the cooking part – I'm now up to seven kitchen fires and THREE explosions! (But we all have our gifts...)

This article certainly has redeeming qualities as it encourages women to consider long-term care insurance sooner rather than later, especially if they have the opportunity to get it without gender rating. My concern is that very few people will see the good messages because they won't get past the skull and crossbones nursing home tag at the very beginning!

Is there a better way? YES. We need to educate the American public with well researched information about the impact of long term care on families.

(Slight commercial here) I wrote a little book called The ABCs of Long-Term Care Insurance that starts off with a solution to the main reason why people are buying long-term care insurance today, which is so they won't wind up being a burden on their family. Now that is something people are willing to pay for!

But even that isn't enough. It's so important to go through what I've been calling the two-minute educational presentation for many years in my personal sales process. The ABC book does this very simply and efficiently so that people are ready to move ahead. I carry them with me and thousands are in use around the nation. Some of you even took advantage of the audio CD with your name and contact information recorded at the beginning and end.

However, I've been asked over and over for an electronic version of this magic little book. I've resisted because I think a big part of its success is the overall look of how SIMPLE it looks and emailing an article to someone just doesn't capture that.

Drum roll.... after much research, we have found how to make it accessible to you electronically, while keeping the integrity of the simple look!! I N T R O D U C I N G...

The ABC's of Long Term Care Insurance eBook

Delivery is simple! Put the book cover graphic on your website and link it to the customized weblink we create for you. When your prospects get there, they click the link, you get an email with their information, and they gain access to the eBook. It's really that easy! Your prospects will be well educated and ready to buy after reading this incredible information and you'll have this amazing tool available hassle free with instant leads!

When you offer something that people truly want to buy, getting the check is simply a byproduct. Now's the time to set the stage for an incredibly successful 2nd half of 2014. Stock up on ABC books or my BRAND NEW ABC eBook. The best part of the ebook is that it's just $29.95 per month for you to have unlimited use to educate your prospects and set up the sale! Remember, the ABC book sets the stage for traditional or combo plans. If you are doing internet selling, the eBook is a must-have!

5% DiscountNeed some printed copies? Perfect timing. We have a freshly printed order of books ready to go off of the shelves to your office. Take advantage of our recent printing with a 5% discount through the end of the month... hurry, they'll go quickly!

50% OffFor every 100 ABC printed books you buy, or for a year's subscription for the eBook, you have the option to add a copy of Protecting Your Family with Long-Term Care Insurance OR any one of my High Impact Selling Systems (One on One, Seminar or Worksite) at 50% off.

In addition, we are waiving the $49 setup fee for the ABC eBook, for a limited time only.

Call 888-400-1118 and ask for Lawrence for any of these special offers!

Phyllis Shelton

LTC Consultants provides long-term care insurance training to agents and educates consumers with information about long term care insurance. This website contains reports and articles about caregiving, assisted living, nursing homes, aging, senior living and elder care, home health care and other long-term care related articles. Order Phyllis Shelton’s Protecting Your Family with Long-Term Care Insurance with articles about whether or not to self-insure or buy combo life insurance and annuity policies or a traditional LTC insurance plan. The book also contains ideas for people who don't qualify for LTC insurance such as Medicaid, life settlements, reverse mortgages, critical illness and also contains in-depth information about Medicare, Medicare Advantage and Medicare Supplements.


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