Guest interview: Mike Simenstad with NGL - How LTC plans and planning has evolved

Guest interview: Mike Simenstad with NGL - How LTC plans and planning has evolved

Author: Diane Stoddart, Certified Long Term Care Consultant, CLTC May 1, 2025 Duration: 17:16
Preparing For Tomorrow podcast
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This week, I interviewed Mike Simenstad, an LTC veteran with 34 years of experience working for several LTC carriers and distributors. He currently works for National Guardian Life (NGL), a traditonal LTC company across the United States. Mike, and others in his role help me and other LTC specialists to be able to work smarter for our clients. We all work together as a team to find the best solution for each family. Mike answers questions about tools/resources consumers use to research and why that can get confusing. We discuss actions people are taking today to plan, and we discuss how the traditional LTC industry has evolved and gotten much healthier over the last 50 years. Learn costs of care where you live here Estimate LTC premiums for plans with a 6 year benefit period and 3% compounding inflation here When we talk we will decide if larger or smaller plans will meet your needs better, but this a good start. Learn what you state's Medicaid program will currently let you keep and access the state Medicaid sysytem for care here Schedule a phone or Zoom meeting with me here

Diane Stoddart brings a professional yet deeply personal perspective to the complex world of long-term care planning in Preparing For Tomorrow podcast. As a Certified Long Term Care Consultant, she understands that preparing for future care needs involves more than just finances-it's about safeguarding your family's well-being and peace of mind. Each conversation cuts through the industry jargon to clarify the real options available, from insurance products to legal strategies, all aimed at protecting your life savings from being depleted by unexpected care costs. You'll hear Diane break down essential concepts and terms, making a daunting subject feel manageable and urgent. Alongside expert guests, she explores the emotional and physical dimensions of caregiving, offering a holistic view that acknowledges the full weight of these decisions. This isn't about fear; it's about empowerment through knowledge. Tuning into this podcast provides a straightforward guide to creating a practical plan, ensuring you can face tomorrow with confidence rather than anxiety, knowing your loved ones and your legacy are secure.
Author: Language: English Episodes: 100

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Podcast Episodes
$25,000-$30,000 per month for home care and assisted living? [not-audio_url] [/not-audio_url]

Duration: 12:34
Today, I want to discuss the financial risk we're facing when planning for LTC needs in 20 or 30 years or more. Home care costs increased on average 10% nationwide from 2022-2023. Assisted Living costs increased 5% on av…
They're selling EVERYTHING to qualify for Medicaid [not-audio_url] [/not-audio_url]

Duration: 9:09
Yes, a colleague of mine is selling all of her uncle's belongings because he was "put into aged care". Those who plan know where they want to be when a long term care event enters the picture. And they have the income, s…
Make that inherited IRA create tax-free LTC benefits [not-audio_url] [/not-audio_url]

Duration: 10:40
On Sunday, Suze Orman discussed the finally finalized rules for inherited IRA's. Listen here: https://www.suzeorman.com/podcast Today, I'm going to share a case study to share what one of our clients did with some of the…
What's better than leaving an inheritance? [not-audio_url] [/not-audio_url]

Duration: 8:22
The two most common reasons people tell me they're looking into LTC insurance are: 1) They don't want to bankrupt their spouse emotionally, physically or financially, and 2) they don't want to burden their children with…
Asking the intrusive health questions gets more approvals [not-audio_url] [/not-audio_url]

Duration: 9:14
This week, we're talking about health qualifying for LTC benefits. What to do... What not to do... LTC planning is all about timing. If you apply at the wrong time or with the wrong company, you could be declined for som…
Questions I hate to get [not-audio_url] [/not-audio_url]

Duration: 13:17
Too often, people contact me when it's too late to access all their LTC planning options. Some people believe they are planning ahead at age 80. Some people wait to inquire until after a diagnosis either limits their opt…
What questions do we get most often? [not-audio_url] [/not-audio_url]

Duration: 10:53
This week, my husband, Paul, asks me multiple questions that we get quite often. I'm guessing you've asked at least one of these questions if you've been considering LTC insurance to protect your family from an extended…
Why is it important to work with a LTC Planning Specialist? [not-audio_url] [/not-audio_url]

Duration: 13:56
There are many professionals from whom you can purchase LTC insurance, but an LTC Planning Specialist is going to have the most knowledge and training about all the options that can be available based on unique needs of…
What's a 1035 exchange? [not-audio_url] [/not-audio_url]

Duration: 12:03
Several people are asking if they can use their life insurance policies for long term care needs. Some newer life insurance plans include a chronic illness rider that let's you use the dealth benefit while still alive an…

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