We think we're saving on premiums, but what's the real cost of waiting?

We think we're saving on premiums, but what's the real cost of waiting?

Author: Diane Stoddart, Certified Long Term Care Consultant, CLTC May 22, 2024 Duration: 12:05
We think we can beat the insurance company by waiting as long as we can to purchase LTC insurance. In truth we're just beating ourselves up. Every year that we wait is one more year of no increase in benefits. By waiting just 5 years, we could eliminate over $100,000 in future benefits. I'm sharing two stories today. One client decided not to wait, and she'll have more than $100,000 in added benefits by not waiting. The other has waited over 13 years and still wants to wait. During that 13 years, he has lost over $600,000 in future LTC benefits when he is 84. He'll either not have as much LTC benefits, or he'll need to start with a higher anount of coverage to attain the same results. If protecting your family from the physical, emotional and financial consequenses of an extended care need is important to you today, it's foolish to wait. Schedule with me today to protect your family https://calendly.com/diane-p4t/30min

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
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…
What if I die before using all my LTC benefits? [not-audio_url] [/not-audio_url]

Duration: 9:40
Teresa wants to know what happens to any LTC benefit money she doesn't use. There are plans that pay your family back if no care or little care is needed, but that's not why we buy insurance. Insurance by definition is a…
When I Met Alzheimer's Face to Face [not-audio_url] [/not-audio_url]

Duration: 27:18
We have a lot of new listeners, so I'm taking you back to one of our earliest episodes to share my "Why". I became a long term care specialist because my heart yearns to help you not go through what I and my family went…
I promised your mom [not-audio_url] [/not-audio_url]

Duration: 10:42
This week, I'm sharing updates on the four clients with LTC claims that we shared on February 22nd. I have been walking with these families as they prepare for and begin extensive caregiving needs for their moms and wive…

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