Planning for potential long term care needs is challenging. There is no universal solution and often the “best” option is less than ideal. But don’t let that deter you from helping your clients prepare. Each client is likely to require a different approach. Some may be looking at stand-alone policies that offer a wide range of benefits. Others may be more apt to consider the increasingly popular option of a hybrid policy that combines benefits of a life insurance policy or variable annuity with long term care protection built in.
In any event, the first step is simply having the conversation. Helping clients understand the scale and probabilities related to long term care is a great way to get started.
These seven statistics may help put it all in perspective.
As always, Transamerica is here to help. If you would like to learn more, please contact your Transamerica wholesaler.
Neither Transamerica nor its agents or representatives may provide medical, tax, investment, or legal advice. Anyone to whom this material is promoted, marketed, or recommended should consult with and rely on their own independent tax and legal advisors and financial professional regarding their particular situation and the concepts presented herein.
Transamerica Resources, Inc. is an Aegon company and is affiliated with various companies which include, but are not limited to, insurance companies and broker dealers. Transamerica Resources, Inc. does not offer insurance products or securities. The information provided is for educational purposes only and should not be construed as, medical, insurance, securities, tax, legal or financial advice or guidance. Please consult your personal independent advisors for answers to your specific questions.