Let me give you a few other startling facts:
- 52% of Americans over the age of 65 will need long term care services in a nursing facility.
- And, the average stay is 2 years and 7 months.
So, as long as everyone has a couple hundred thousand dollars hanging around, they should be okay. But, what if there is a spouse at home? Will he/she have enough cash to stay in the world that they have become accustomed to? Let's talk.
I just attended a meeting where an elder law attorney was speaking about long term care costs and also Medicaid. He acknowledged that there are far more people with too few assets to cover these costs. That is when Medicaid comes in... after you are impoverished. He then spoke of the declining number of insurers in the long term care arena.
And, he spoke highly of the new asset based products and life and annuity products with accelerated benefits. As I sat there listening, I still am perplexed as to why more advisors are not offering these products. Ladies and gentlemen, I am very convinced that these products are going to be the "hot sellers” in the next 2 years. And, this is perfect for a client review. You can discuss this particular calamity, and ask how they would handle it.
Look, you pledge to give the best service to your clients. Are you doing them a disservice when you don't discuss and present these solutions? Want to talk? Give us a call at 1-877-844-0900, or book an appointment with one of our Marketing consultants.