Managing your Independence and Preserving your Assets

LONG TERM CARE LONG TERM CARE INSURANCEINSURANCE

Is Long Term Care Insurance Right for You?

Yes…Yes…If you are health qualified

Yes…Yes…If you recognize the need

Yes…Yes…If it is affordable

Yes…Yes…If you understand the wisdom and see the benefit of transferring the risk

Yes…Yes…If the coverage fits your needs

BUT BEFORE WE GET TOO BUT BEFORE WE GET TOO FAR…FAR…What prompted you to start investigating

Long Term Care protection?

Let’s gather some facts…• Insurability• Family History• Finances

How is Your Health?How is Your Health?

AIDS, AIDS related complex or positive HIV testAlzheimer ’s Disease Amyotrophic Lateral SclerosisCystic FibrosisDementiaHuntington’sMemory LossMental RetardationMultiple MyelomaMultiple SclerosisMuscular DystrophyMyasthenia GravisParkinson’s DiseaseSchizophreniaSclerodermaSpinal Cord InjuryStroke / CVA

Have you ever…Have you ever… Within the past 10 years…Within the past 10 years…

EARNINGS ON EARNINGS ON INVESTMENTSINVESTMENTS

EMERGENCY FUNDS

Self-InsuredSelf-Insured

When it’s gone it’s When it’s gone it’s GONEGONE

Protect youryour assets and your emergency fund

ShareShare the Risk

LONG TERM CARE: DID YOU LONG TERM CARE: DID YOU KNOW?KNOW?

WHO PAYS?WHO PAYS?

HomeHealthCare

Assisted Living Facility

Adult Day Care

Nursing Home Care

LONG TERM CARE: DID YOU LONG TERM CARE: DID YOU KNOW?KNOW?

STAGES OF CARESTAGES OF CARE

WHAT IS LONG TERM WHAT IS LONG TERM CARE?CARE?

3 levels of care• Skilled Care

o Physical/Speech Therapyo Occupational Therapy

• Intermediate Careo Oxygen/Respiratory Treatments

• Custodial Care o Activities of Daily Living (ADLs) o Or Cognitive Impairment

Most long-term care is custodial Most long-term care is custodial Health Insurance/ Medicare does not pay for Health Insurance/ Medicare does not pay for

custodial care.custodial care. Medicare & You 2008 – National Medicare Handbook – Center for Medicare & Medicaid Service (CMS)

LONG TERM CARE: DID YOU LONG TERM CARE: DID YOU KNOW?KNOW?

(With 90-Day Certification)

• Bathing• Dressing• Transferring from bed to chair• Toileting• Eating• Continence

And/Or Cognitive Impairment And/Or Cognitive Impairment (Alzheimer’s/Dementia)(Alzheimer’s/Dementia)

ACTIVITIES OF DAILY LIVINGACTIVITIES OF DAILY LIVING

LONG TERM CARE: DID YOU LONG TERM CARE: DID YOU KNOW?KNOW?

60%65 and Older

40%Working Age

AdultsAges 18 – 64

1 America’s Health Insurance Plans (AHIP). Guide to Long-Term Care Insurance.

40 percent of the 13 million people receiving Long Term 40 percent of the 13 million people receiving Long Term Care services are between the ages of 18 and 64Care services are between the ages of 18 and 6411

LONG TERM CARE INSURANCELONG TERM CARE INSURANCE

Risk Insurance

Home Fire Yes

Major Auto Accident Yes

Short Term (Hospital) Care Yes

Long Term Care Not Yet, Why?

Can you think of anything else other than the cost of long-term care that could “involuntarily” wipe out your life savings and take away

your independence?

THE FOUR MAJOR RISKS THE FOUR MAJOR RISKS TO YOUR RETIREMENT TO YOUR RETIREMENT

PORTFOLIOPORTFOLIO

Some people think it’s Health Insurance but it’s really Wealth Insurance Wealth Insurance

SOLUTIONSSOLUTIONS

Be RichBe Rich Be PoorBe Poor Be InsuredBe Insured

If you do not have insurance, If you do not have insurance, you ARE the insurance companyyou ARE the insurance company

7 Reasons people apply for LTCi• Preserve lifestyle / standard of living• Burden to spouse / family• Freedom of choice and independenceoAvoidance or delay in going to nursing homeoPolicy pays for Assisted Living, Adult Day Care and

Home Care• Income and Asset protection• Medicaid / Partnership• Access to quality care• Peace of mind

THE MAIN REASON PEOPLE THE MAIN REASON PEOPLE CONSIDER LTCCONSIDER LTC

ACSIA / LTC GLOBALACSIA / LTC GLOBAL• ACSIA was founded in 1955 and helped

create the first LTCi products in 1972• Long Term Care Insurance is our major

focus• We represent all the major insurance

carriers, but are independent of any company, so that we can provide objective counsel and recommendations• As the market changes we will be there to

bring you the latest information

NATIONAL DAILY CHARGES FOR NATIONAL DAILY CHARGES FOR NURSING HOME CARENURSING HOME CARE

$212

$189

$194$184

$164 $158

$144

$180

$157

$157

$170

$195

$156

$167

$137

$126

$126

$182

$145

$132

$131

$116

$206

$161

$157

$164

$167

$186

$150 $183

$158 $159

$180

$153

$165

$170$188

$210

$298

$275$135

$233

$275

$216$321$255

$208$264

High

Low

Medium

MetLife Market Survey of Nursing Home & Home Care Costs 2007

Let’s now look at the cost of care in Let’s now look at the cost of care in our areaour area

Long Term Care

HOW DO I (QUALIFY) OR FIND HOW DO I (QUALIFY) OR FIND OUT IF OUT IF

I AM ELIGIBLE?I AM ELIGIBLE?

1. Health Questionnaire2. Initial Premium3. Doctor’s Records4. Phone or Face to Face Assessment

TODAY EFFECTIVEDATE

80% Processed – 45 Days 30 Day – Free Look