shared vs. individual LTC plan comparison - how do they work?

shared vs. individual LTC plan comparison - how do they work?

Author: Diane Stoddart, Certified Long Term Care Consultant, CLTC June 5, 2025 Duration: 12:40
Anna & Marty compare shared hybrid life/LTC plans with separate LTC plans for each of them. It's a matter of preference and goals. The LTC and death benefit are directly related, so plans with higher LTC benefits have larger death benefits. The death benefit acts as a return of premium if care isn't needed. The key differences in shared and individual plans is who can use the LTC benefits and for how long, who can be beneficiary, and when does the death benefit pay? Listen and learn how these plans differ and what Anna and Marty decided. Schedule an initial free consultation here View current and projected costs of care where you live here Learn what your state's Medicaid system lets us keep and receive care here Estimate rates for 6 year plans with 3% inflation growth here Many don't want a full 6 year benefit period, so please understand that smaller plans have lower rates.

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

Preparing For Tomorrow podcast
Podcast Episodes
Guest interview: Lynda Krueger with Owl Be There Tampa [not-audio_url] [/not-audio_url]

Duration: 21:01
This week, I interviewed Lynda Krueger with Owl Be There Tampa. Owl Be There isn't a quick referral by zip code resource. Or a DIY search through Google. Lynda and her associate improve the lives of seniors with wise gui…
Gio wants a plan that does EVERYTHING and more [not-audio_url] [/not-audio_url]

Duration: 11:18
There are so many ways to design a long term care plan. However, different planning strategies offer their own unique benefits. For example, LTC Partnership Protection is only available on stand-alone LTC plans. Cash ben…
Do I need to use the whole benefit every month? [not-audio_url] [/not-audio_url]

Duration: 11:18
Lisa asked if LTC insurance requires us to use the whole benefit every month or can we use less and stretch the benefit period to pay longer. The answer is "that depends". What kind of plan do you have? What kind of care…
Do You Ever Get Depressed Talking about This Stuff? [not-audio_url] [/not-audio_url]

Duration: 11:27
I promise I'll start talking numbers and cases again next week. We made it through the storms and things are almost normal in our community. This week, I received a question about me rather than about long term care, and…
We made it through Milton and are feeling blessed [not-audio_url] [/not-audio_url]

Duration: 3:14
Thank you for all the phone calls and messages asking how we are doing. Our home is fine. No damage and no flooding. We didn't lose power. Lots of branches to clean up, and the last two days we've been putting all the st…
We're in Tampa and are staying here throuh Milton [not-audio_url] [/not-audio_url]

Duration: 1:30
Just a quick update. We're ok so far. Hoping for a Cat 3 or less when it hits, likely a little south of us so we'll get a lot of rain. Presuming all goes as well as can be, I'll update you all on Friday.
Why & when would an insurance company not approve and pay a claim? [not-audio_url] [/not-audio_url]

Duration: 16:30
To answer this question, I need to first share why and when LTC insurance companies are required to approve and pay a claim, and then I'll discuss where this can get confusing or messed up. LTC insurance companies are st…