{"id":20827,"date":"2023-10-11T00:19:31","date_gmt":"2023-10-11T00:19:31","guid":{"rendered":"https:\/\/www.thinkadvisor.com\/2023\/10\/10\/the-silent-discussion-about-long-term-care\/"},"modified":"2023-10-11T00:19:31","modified_gmt":"2023-10-11T00:19:31","slug":"the-silent-discussion-about-long-term-care","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2023\/10\/11\/the-silent-discussion-about-long-term-care\/","title":{"rendered":"The Silent Discussion About Long-Term Care"},"content":{"rendered":"<div class=\"media_block\"><a href=\"https:\/\/feeds.feedblitz.com\/-\/798813629\/0\/thinkadvisor\/\"><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2021\/03\/Health_Elderly_Woman_Caring_Sick_Man_Shutter_640x640.jpg\" class=\"media_thumbnail\"><\/a><\/div>\n<div><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2021\/03\/Health_Elderly_Woman_Caring_Sick_Man_Shutter_640x640.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<div class=\"the-advisor bullet-summary\">\n<h3>What You Need to Know<\/h3>\n<ul>\n<li>High returns are great.<\/li>\n<li>Dream vacations are great.<\/li>\n<li>What happens when your clients can no longer live safely on their own?<\/li>\n<\/ul>\n<\/div>\n<p id=\"first-para\">We are a society attuned to success \u2014 traditionally trained to plan for achievements, milestones and all the splendors life has to offer.<\/p>\n<p>Financial advice flows generously about savings, investments, buying homes, and preparing for dream vacations. The narrative predominantly fixates on accumulation and enjoyment.<\/p>\n<p>However, there\u2019s a side of the journey we\u2019ve been tiptoeing around for far too long: the unknown.<\/p>\n<p>As we collectively move beyond the aftershocks of the COVID-19 pandemic, there\u2019s an awakening realization about the need to integrate long-term care planning into our financial narratives.<\/p>\n<h2>The Problem<\/h2>\n<p>At its core, long-term care insurance ensures coverage for personal and custodial care for those struggling with daily tasks due to chronic illnesses, disabilities, or other conditions.<\/p>\n<p>It\u2019s not merely about nursing homes or assisted living facilities; it\u2019s about providing care in familiar environments, maybe even at home.&nbsp;Its essence lies in granting peace of mind to both the insured and their families, safeguarding against unforeseen, often substantial expenses.<\/p>\n<p>You might ask why.&nbsp;Why is it essential to talk to your clients about what seems like a morbid subject when they\u2019re young, and perhaps in their prime?<\/p>\n<p>Recent <a href=\"https:\/\/acl.gov\/ltc\/basic-needs\/how-much-care-will-you-need\" target=\"_blank\" rel=\"noopener\">data<\/a> from the U.S. Department of Health and Human Services states that nearly 70% of those turning 65 will require long-term care. The need is real, with women typically requiring 3.7 years of care and men 2.2 years.<\/p>\n<p>But age can\u2019t be the sole factor in this discussion.<\/p>\n<p>Coming out of a global pandemic, where the virus did not discriminate by age, the conversation around planning for care has evolved.<\/p>\n<p>People now recognize that long-term care isn\u2019t solely the domain of the elderly.<\/p>\n<p>Accidents, sudden illnesses, or a myriad of unexpected events can prompt anyone, at any age, to need support and care for an extended period.<\/p>\n<h2>Empowering Though Knowledge<\/h2>\n<p>Many companies are looking for ways to help your clients understand the importance of long-term care planning. At my company, OneAmerica, we believe that true empowerment springs from knowledge.<\/p>\n<p>Our <a href=\"https:\/\/www.oneamerica.com\/newsroom\/news-releases\/study-finds-46-percent-of-financial-professionals-do-not-recommend-ltc\" target=\"_blank\" rel=\"noopener\">recent studies<\/a>, in collaboration with Hanover Research, underscore that understanding long-term care starts not with product specifics but with a conversation.<\/p>\n<p>The aftermath of COVID-19 has cast a spotlight on long-term care, elevating its importance across all demographics.<\/p>\n<p>Young adults, who once viewed this as an age-distant necessity, are now seeing its relevance.<\/p>\n<p>Conversations in coffee shops, university halls, and workplaces are gradually shifting from just careers and dreams of the future to the importance of health, care and long-term wellness.<\/p>\n<p>However, while the dialogue is changing, there remains a considerable void in tying it to financial planning.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What You Need to Know High returns are great. Dream vacations are great. What happens when your clients can no longer live safely on their own? We are a society attuned to success \u2014&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":20828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2023\/10\/the-silent-discussion-about-long-term-care.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20827"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=20827"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20827\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/20828"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=20827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=20827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=20827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}