Archive for October, 2010

Do I Need Long Term Care Insurance?

Do I need Long Term Care Insurance?

Below is a simple self-assessment to see if you really need LTC.

Please answer all the questions honestly and objectively…

1. I want to live in my home as long as possible? YES                     No
2. I would like to remain independent as I get older? YES                     No
3. The quality of care I receive is important to me? YES                     No
4. When I need Long Term Care, I would like to have options of care providers/places? YES                     No
5. I don’t want to be a burden to family member as I grow older? YES                     No
6. I have had a personal experience making arrangements for someone in a nursing home? YES                     No
7. I believe needing Long Term Care as sometime in my lifetime could happen to me? YES                     No
8. I realize this is not an “old age” issue, that a Long Term Care event can happen to anyone…at any age? YES                     No
9. Protecting myself from losing everything I’ve worked for all my life is a concern to me? YES                     No
10. I would like to “safeguard” my family assets for my loved ones if something happens to me? YES                     No
11. An unexpected annual expense in excess of $100,000 would affect my family and me? YES                     No
12. My total assets are greater than $100,000 and less than $3.5 million dollars? YES                     No
13. I have done some financial planning? YES                     No
14. With Long Term Care costs exceeding $50,000 annually, I would run out of money within 4 years? YES                     No
15. I realize that as expensive as a Long Term Care event is now, I understand that costs are expected to triple over the next 20 years? YES                     No
16. I think Long Term Care is the BIGGEST unprotected risk to my life saving? YES                     No
17. I feel I could pay for my Long Term Care policy out of interest I receive on my savings? YES                     No
18. Long Term Care Insurance sounds like something I could benefit from if I could qualify for coverage? YES                     No
19. If I could own a Long Term Care policy and pay in an entire lifetime of premiums what would be the cost of less than one year in a care facility, it would make sense for me to insure myself against the uncertainty of needing Long Term Care? YES                     No
20. I don’t believe the Medicare/Medicaid will pay my Long Term Care? YES                     No
21. I want to receive Long Term Care benefits that are tax-free? YES                     No
22. If I could save a substantial amount of money in premiums, I would apply today? YES                     No

 

So, do I need Long Term Care Insurance?

 

To determine your score, please add up all of your “YES” answers…

Total of your “Yes” answers_______

15 or more…

          If you had a total score of 15 or more “Yes” answers – Everyday you procrastinate getting the “peace of mind protection” a Long Term Care policy provides, puts you at a greater risk of your health jeopardizing your qualifying! You should already own a Long Term Care policy! What are you waiting for?

10-15…

          If you had a total score of 10 to 15 “Yes” answers – You should definitely submit an application today to see if an insurer would consider you an “insurable risk.”

Less than 10…

          If you had a total score of less than 10 “Yes” answers – You should re-examine your priorities to see what your alternatives are before committing to a Long Term Care policy.

 

Abe Glickman, LTCA, LTCP

Member: AALTCI, NAHU, NAIFA, SOA

Abe Glickman Insurance Group

Toll-Free Phone: 877-298-5824

Email: AG@AbeGlickman.com

“It is better to create a plan 10 years too soon than one day too late.”

Questions or Comments? Give me a call!


Long Term Care Insurance – A Means to Prevent a Nursing Home Stay

Since 1988 I have worked in the field of aging. My experiences has made it clear to me that best course of action is to keep clients as far away from Nursing Homes as possible. My goal is to keep my clients at home for as long as possible, if not for the rest of their lives.

Based on my personal experience, the fundamentally institutional nature of a Nursing Home prevents them from offering dignified care. There are good hearted, well intentioned caregivers in many Nursing Homes, but the demands of institutional settings hamper the quality of care caregivers are able to provide.

Insurance companies and financial advisors who sell Long Term Care Insurance do not realize what it is like to actually live in an institutional setting. This might explain why most of the professional literature is written incorrectly.

Agents usually offer Long Term Care Insurance plans based on Nursing Home Cost and the average length of stay in a Nursing Home (average is 3 years). There are references to a “continuum of care” with home care ranked at the lowest level and Nursing Home at the top. How can a Nursing Home resident be better off receiving approximately 3 hours of direct care in a 24 hour period from low paid, overworked, Nursing Home Staff compared to a disabled individual who can have full time care from a private caregiver at home?

As a professional Insurance Agent, I best serve my clients by helping them plan ahead so they can receive care at home when the time comes. By having a comprehensive Long Term Care Insurance policy, we have together put the appropriate plan of action in place.

“Home Care provides choices such as the type of food you like to eat, to the music you like to hear”

By educating my clients and doing advanced planning, I strive to serve them well. I try to help my clients achieve fuller, happier and more dignified lives. Secure in the knowledge that they will never become a burden to those they love.

A good Long Term Care Insurance policy with excellent home care benefits can keep you out of a Nursing Home.

After all…”There’s No Place Like Home!”

Abe Glickman, LTCA, LTCP

Member: AALTCI, NAHU, NAIFA, SOA

Abe Glickman Insurance Group

Toll-Free Phone: 877-298-5824

Email: AG@AbeGlickman.com

“It is better to create a plan 10 years too soon than one day too late.”

Questions or Comments? Give me a call!


Important Medicare Information

This month I would like to share with you very important information that I believe all Medicare recipients should know. The following is an article from the magazine, Senior Market Advisor, July 2010 issue. Please take a moment to read this essential information and as always, should you have any questions regarding this article or any of my previous articles, do not hesitate to give me a call.

Following his victory in the health reform battle, it is anticipates that President Obama will move to make preventative care less expensive for seniors. New rules recently proposed by the administration will need to be approved by Nov. 1 in order to take effect on Jan. 1, 2011.

Currently, Americans take advantage of preventative care at approximately half the recommended rate. This is believed to primarily due to cost, including deductibles, coinsurance, and copayments. The Obama administration aims to change that with new rules that will mean Medicare recipients will no longer have to pay out-or-pocket costs for some preventative services, which include an annual wellness visit to a physician.

The wellness visit will comprise a medical and family history review, a personal risk assessment, an evaluation of the patient’s abilities and risk of injury, a psychological and cognitive abilities screening along with routine measurements of weight, height, blood pressure and body-mass index. Additional services, such as an annual mammogram; screenings for colorectal, cervical and prostate cancer, aortic aneurism, diabetes, cholesterol and cardiovascular problems; nutrition therapy for diabetes or kidney disease; bone mass measurement and annual flu vaccination will also be offered free of charge.

Further preventative treatments, test and screenings will be added to the list of free services offered to Medicare beneficiaries as they become available and are recommended by the U.S. Preventive Services Task Force.

It is expected that the average savings under the new rules could add up for seniors on a fixed income. For example, a female Medicare beneficiary receiving a mammogram, colon cancer screening, Pap test, diabetes and cholesterol tests and flu shot could pay out-of-pocket costs of up to $300 under typical insurance plan rules. However, the most significant savings to come from these new rules could be that seniors finally receive the preventative care that could save their lives.

Abe Glickman, LTCA, LTCP

Member: AALTCI, NAHU, NAIFA, SOA

Abe Glickman Insurance Group

Toll-Free Phone: 877-298-5824

Email: AG@AbeGlickman.com


Top Honors for Abe Glickman LTC Agent

We are pleased to announce that Abe Glickman Insurance Group is the recipient of three awards from American Association for Long-Term Care Insurance. The Coral Springs professional was recognized by the national trade organization with the receipt of the following prestigious awards:

 

2010 Long-Term Care Sales Achievement Award for Individual Premium Sales*

Abe ranked 165 of the TOP 500 in the nation

2010 Long-Term Care Sales Achievement Award for

Individual Premium Sales by State*

Abe ranked 16th in the State of Florida

2010 Long-Term Care Sales Achievement Award for

Individual Sales of Policies Sold*

Abe ranked 71 in the TOP 500 in the nation

“There are over 40,000 insurance and financial professionals who market long-term care insurance,” says Jesse Slome, the Association’s executive director. “This annual award recognizes those leading professionals working to meet the needs of consumers nationwide.”*

The 2010 awards were presented to Abe Glickman in recognition of sales to individual consumers.

*American Association of Long-Term Care Sourcebook 2010

 

It is always gratifying to be recognized on a national level among one’s peers. I am very humbled by this achievement. However, I must explain how I reached this goal.

            It is not about how many appointments you have. It is not about how many kitchen tables you sit at making presentations. It is not about any of that at all.

            It is about service (I have written about this in past articles). It is about making sure that the promises I made, and the promises the insurance company made at the time of sale (purchase) are delivered and kept. It is not about just making the sale and disappearing. It is about staying, keeping in touch with my clients, and making sure they know I will be there when they need me! It’s about my clients having peace of mind. It is being your advocate at the time of need. In today’s world, it seems that everyone is out for themselves, not for you. Where I come from, a promise is a promise. My handshake is my bond.

By always valuing my clients, I have made service my number one priority. I have the best clients an insurance agent could ask for. My modest achievements are a direct result of referrals. I have been fortunate, but at the same time, my clients expect professional, expedient and courteous service.

I offer again to all of you who have Long-Term care policies, and have no connection with your agents to contact me so we can review your policy and allow me to be your advocate.

 

Abe Glickman, LTCA, LTCP

Member: AALTCI, NAHU, NAIFA, SOA

Abe Glickman Insurance Group

Toll-Free Phone: 877-298-5824

Email: AG@AbeGlickman.com

“It is better to create a plan 10 years too soon than one day too late.”

Questions or Comments? Give me a call!