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A Reflection on LTC Practices

Since 2008 it’s been my pleasure to have been teaching the Long-Term Care Partnership continuing education course. Initially, I taught the KS 8-hour class, but I’ve transitioned to hosting the KS 4-hour Refresher course on even-numbered years.

I recently wrapped up the 4-hour Refresher course for 2020 a few weeks back and was thrilled when I showed up to a packed house. With 50 agents in attendance, it was a great turn out and I love seeing that the course’s attendance is still high even after 12 years. If you couldn’t make it, or don’t recall getting the invite, please let me know. Not only are you picking up 4 hours of CE credit every other year, but the interaction, networking, and little nuggets you’d garner from a classroom setting are invaluable.


Angie Hughes 

LTCi Marketing Manager

In reflecting on the class, I was happy to be teaching a comprehensive program with loads of new information. When it comes to long-term care, everything starts with a policy’s fundamentals. When I cover the essential provisions of an LTC policy, I like to drive home the client’s needs. During the sales process, we must actively remember that our clients deserve a policy that works for them. For your clients, it’s not really a matter of “if” they’ll go on claim, but rather, “when”.

Close-up view of businessman holding his smartphone in relax sitting movement

In order to find the best solution for a client, a good agent will know about the several ways available to assist someone in meeting their long-term care needs. We discussed trusts, annuities, life insurance riders (very popular these days), reverse mortgages and the many, many ways to solve the long-term care planning needs for clients.

Another major area of discussion that we hit on was taxation and the deductibility of long-term care. During the

 process of selling long-term care, you need to be aware of your audience, and how they’ll react to different aspects of a policy. If you’re unfamiliar with the conversation an LTC agent should be having with business owners, and that includes those that are self-employed, you really should give me a call.

As a self-employed insurance agent, you might be aware that you can purchase LTC insurance and receive the benefits receive tax-free. On top of that, some, or all, of the premiums are tax-deductible as a business expense and you can limit offering the coverage to only those you want.

As for the LTC industry, it is still moving forward. We are seeing traditional LTC sales spike back up in lieu of the life insurance with LTC riders (7702b) and chronic illness riders (101g). I believe this is due to the way that life insurance rates are rising, which is making some policies less competitive than they once were. I also stand by the adage that you’ll always get more benefits from a traditional LTC policy than you will a life insurance product if both have the same premium.

I want to leave you with this, no matter your knowledge level, I can help you. I do a tremendous amount of joint calls with agents who don’t specialize in LTC and their clients. I simply walk them through the solutions after hearing what it is the client needs, and it’s all downhill from there. Even if you don’t want to be an LTC Expert, you can still be an Opportunity Expert who looks out for their clients’ best interests. If you could come up with two clients from your book of business that you think might benefit from being educated about LTC planning, call me and let’s talk.