Education

“Mutually dependent and interdependent. The relationship that cannot be severed or ignored is between aging adult children and their senior parents.

What you cannot choose to do any longer is to only view the problem as if the concerns of those already in care, or living in fear of the financial implications of the possibility of the need for care, are simply fuel for the buying decisions of the adult children participating in the care of a parent and therefore clearly understanding the need to plan and be prepared for future risk contingencies for themselves.

Consumer surveys across many disciplines have historically identified those who can intelligently “plan ahead” without the experiential need of being directly and personally involved. This argument had been frequently proposed as it relates to the need for extended care originating from a chronic illness. Consumers, when surveyed, would wish us to believe that…”

Click here to read more, originally published in the November 2018 edition of Broker World Magazine.

“I am not going to stand on the deck of an aircraft carrier and proclaim a premature cessation of all hostilities. Chronic illness in my humble yet persistent opinion remains America’s largest unprotected risk.

To a large extent we still have an industry with its head deep in the sand hoping the approaching storm will somehow magically pass quietly around them. Where a celebratory salute does need to take place is in honor of those brave, patriotic and prophetic corporate citizens that have at least ventured out at night to wage a glowingly successful campaign against the known and certain evils  of chronic illness still embedded deep within the psyche of a financially vulnerable and woefully unprepared American public.”

Click here to read more, originally published in the October 2018 edition of Broker World Magazine.

Identifying funding sources can help determine a budget and provide direction on which premium payment option to recommend.

Join Marc Glickman & Michael Machlovitz from the NGL EssentialLTC team for the next installment of the Essential How-To’s webinar series for tips on how to use the Single, 10-Year, and Lifetime Premium Payment options based on your client’s needs and desires.

They will also demonstrate a new Benefits Buddy feature that allows you to use a target premium approach for a tailor-made LTCi plan.

This is a session you won’t want to miss. Register now!

“It seems that it is primarily similarities that define generational progression, specifically as it regards common experience resulting from the age cohort’s place in history – social, political and economic. The most agreed upon period of time appears to be in the 30 year duration range per generation.

More than enough ink has been spilled on the effects and affects of the Boomers and the incoming Gen X’s that find themselves participating in the proverbial financial and emotional stress as members of the “Sandwich Generation,” caring for both parents and children.

There does seem to be some unavoidable optimism brewing in the chronic illness marketplace. We are apparently back to levels of company participation in some form that we haven’t seen in over 15 years. While it is true that these attempts to address the problem at some level run across a very broad playing field of product option, quality of benefits paid and under what circumstances care dollars will be delivered, we do have choices!”

Click here to read more, originally published in the September 2018 edition of Broker World Magazine.

“The readers of this column I am sure understand that I make a living outside these musings and frequent pontifications. As a consultant I have been primarily involved in product development and wholesale brokerage distribution strategies directly associated with long term care insurance for over 20 years. The comments this month may be a little strident, created by a growing level of frustration generated by our 20 year lack of market penetration success.

Because of our consulting relationships over the years, I suspect my partner Barry Fisher and I may  hold the record for executed Non-Disclosure Agreements.  It needs to be clearly understood before reading further that we are currently under contract to provide our normal responsibilities to one of the major companies involved heavily in the market outlined below.

After almost 15 years of writing this column with all of the knowledge and passion I could muster, we would want it clearly understood that our involvement and the views expressed below come as a result of our desire to help direct life settlement buyers achieve goals that we believe are ethically consistent with what we believe is an unavoidable acceptance and acknowledgement of our fiduciary.”

Click here to read more, originally published in the August 2018 edition of Broker World Magazine.

“Like many readers of this column I am second generation “wholesale brokerage.”

The promise that my father helped develop beginning in the early 1960’s was a guaranteed commitment to America’s consumers to deliver the best product at the best price. However, I clearly remember his first insurance sales lesson: “Son, the best sale is an old sale!” Virtually every conversation concerning future product development or distribution strategy seems to circle back to a suggestion to work your own book of business.

In the early days of LTCI sales we were continually asked for leads. The standard response was, “You do not need them, you need to work your own book of business.”

There is true optimism again in our market. The only signs of life in the LIMRA production numbers involves some form of an approach to chronic illness risk. Combo, hybrid, linked and asset-based – they have all become fertile fields to plough. It now becomes impossible to…”

Click here to read more, originally published in the July 2018 edition of Broker World Magazine.

“I know many of you have visions of a Grandmother or Aunt who wore one of those shapeless amorphous sack dresses. They covered a world of sins and no one really wanted to know exactly what was going on underneath. What we were sure of was that nothing really risky was ever going to see the light of day.

Here’s what we know: Shortly after HIPAA we had approximately 8 million folks who owned some form of LTCI. Twenty years later we still have about 8 million. For the last dozen or so years about a half million Americans per year have been buying some form of chronic illness protection. I don’t think anyone would argue that this could be described as a seriously flat market.

Active companies still trying to sell stand-alone individual accident and health policies can now be counted on fingers and toes, and those in the brokerage market on one hand. The only signs of life in the…”

Click here to read more, originally published in the June 2018 edition of Broker World Magazine.

“The 500 pound canary squatting squarely in the middle of any conversation about custodial care remains our gift from Lyndon Johnson.

I do not mean to extend any normative values to Medicaid.  In many ways it may be our single most effective exercise at establishing and funding social justice. Because it is primarily a state run program there are naturally many variations of its benefit availability, severity of debt collection from heirs, and the basic rules of interaction with Medicare and the adult children who become entangled in it’s execution.

It is difficult to put it in perspective. Medicaid’s co-dependence with the Affordable Care Act continues to percolate at the center of today’s political debate. It is important to remember that although long term care costs are it’s greatest expense, in terms of head counts children are the largest beneficiary of  needed assistance.”

Click here to read more, originally published in the May 2018 edition of Broker World Magazine.