The One topic NOBODY Wants to Talk About. But EVERYBODY Must.

Your Guide to Long-Term Healthcare:

Planning for You and Your Loved Ones Future

What is Long-Term Care?

  • Long-term care (LTC) is help or supervision when you can’t perform some of the basic activities of daily living, such as bathing, dressing, eating, and managing medications.
  • LTC can be very costly and is not covered by most health insurance plans or Medicare. In Sarasota, Florida the costs are higher than the national average with a home health care averaging $21.00 per hour (total dependent on number of hours) and the average cost of a private room in a nursing home is over $10,400.00 a month*.
  • Many adults need LTC as they age. Someone turning the age of 65 today has nearly a 70% chance of needing LTC assistance in their lifetime.
  • Planning for LTC can help you protect your assets, reduce the stress on your family, and ensure that you receive the quality of care that you want.

*Statics show that the average length of stay in a nursing facility is 2.5 years.  Based on this, people should anticipate a potential overall cost of $312,000.00.

As a client of The Insurance Hub, you’ll learn about long-term care plans tailored for your unique situation. With our knowledgeable agents, you will confidently select a long-term healthcare plan that aligns with your personal needs and budget, ensuring peace of mind now and in your future. 

Plans can be a traditional Long-Term Care Insurance Policy, Life Insurance with a Long-Term Care rider, or an Annuity with a Long-Term Care rider.


Understanding Long-Term Care Options: Securing Your Future

In a recent study, about 65% of the participants said the fear of upsetting family members is the biggest barrier to talking about LTC plans. Long-Term Care Planning ensures financial security for various care needs, including home healthcare, nursing homes, and adult daycare services. There are plans that offer hybrid options, combining long-term care with life insurance or an annuity, providing a benefit if long-term care is not used.

Starting the Conversation: Mom and Dad, I love you very much and I want you to be happy and healthy for as long as possible.

That’s why I would like to talk to you about your plan for the future, especially if you ever need long-term care. Have you thought about what kind of care you would prefer and how you would pay for it? There are many options available, including home health care, which can help you stay in your own home with some assistance. 

May I ask you a few questions? 

How do you feel about your health, and what kind of health issues run in our family?

Do you think you might need some help with daily activities as you get older?

Would you like to stay in your home if possible? 

What kind of resources do you have that you can use to pay for long-term care, such as your income, your savings, your investments, your home equity, and your insurance policies?

Have you thought about creating a long-term care fund, by setting aside some of your assets or income specifically for long-term care expenses?

Is a reverse mortgage an option to fund long-term care? 

If you are thinking about relying on government-funded care, such as Medicaid or Veterans Affairs, what are the pros and cons of that option? Should we look into the eligibility rules, the coverage limits, and the quality of care that you can expect from these programs?

After doing some research, I discovered that the average costs for home health or a private room in Sarasota, Florida are quite high. Why don’t we contact The Insurance Hub?  I’ve heard they have some great options, and their many 5-star reviews gives me the confidence that we are going to the right place.

How Do Long-Term Care Plans Work?

The Insurance Hub’s licensed agents will help you understand the factors that typically influence long-term care plan costs, such as age, health, marital status, gender, and policy type. Costs also depend on personal preferences and financial resources, including daily benefit levels, coverage duration, and waiting periods. Our promise is to do due diligence to find a plan that suits your individual needs and budget.

Who Needs a Long-Term Care Plan?

Everyone who worries about becoming a burden to their family members or friends due to chronic medical conditions or disorders needs to have a plan. It’s crucial to do so as early as possible, as costs rise, and availability decreases once a need is identified. Policies typically activate when the insured cannot perform at least two daily living activities independently. 

According to the US Department of Health and Human Services, 70% of individuals over 65 will require some form of long-term care, making a plan for long-term care an important consideration when planning for your future.


Choosing the Right Long-Term Care Plan

Selecting the right strategy depends on your specific needs. Consider whether the plan covers home care and institutional care. Understand the definitions and classifications of nursing home care. Other important factors include guaranteed renewals and inflation protection. The Insurance Hub agents will help you navigate these options to make an informed decision.

Why Choose The Insurance Hub?

Our team offers personalized, one-on-one consultations, ensuring you feel valued and confident of your decisions. We are constantly researching options for the evolving landscape of long-term options, offering education and guidance to help you prepare financially for the care you deserve. As our client, you will appreciate the comfort and assurance provided by our knowledgeable agents.

We are compensated by carriers, so you can secure your future with a no charge consultation by The Insurance Hub. The time to prepare is now. Don’t worry, ensure financial protection and get peace of mind.

Don’t Let This Happen to You. Waiting to Purchase Long-Term Care Plan Created Devastation.

Don, aged 61, along with his wife, Evelyn, had always been meticulous about their financial planning. They had spent years building their nest egg, ensuring a comfortable retirement for themselves. When they decided to sell an investment property, they heeded their financial planner’s advice to wait until it sold before purchasing long-term care insurance, 

Then life took an unexpected turn. Don suffered a mild stroke. Fortunately, Don received prompt medical attention, and his condition stabilized. However, the incident forced a profound change to their life plan. 

Like many of us, Don postponed making a long-term care decision believing he had plenty of time to secure it.When the time was right to develop a long-term care plan, he encountered a harsh reality. He was informed that his mild stroke had now become a significant obstacle.

Companies consider pre-existing conditions when underwriting policies, and Don’s recent health scare made him a high-risk applicant. As a result, the costs were exorbitant, making a long-term care plan unpractical.

Now Don and Evelyn worry that if Don were to experience another, more severe stroke in the future, Evelyn might not be capable of caring for him at home and they won’t have a plan for his long-term care.

The financial planner’s advice to wait for the property’s sale had backfired in the worst possible way, jeopardizing their financial security and peace of mind.

Don’s story serves as a stark warning about the consequences of delaying long-term care planning. In the end, their financial planner’s counsel to wait for the property to close proved a costly error that left Don and Evelyn grappling with the harsh reality of limited options for their future care needs.

Don’t wait until the timing is “better”. The time to plan is now. Contact The Insurance Hub today.

Understand Different Types of Strategies to Secure Long-Term Care

Long-term care insurance is tailored to meet various needs and preferences. Here’s a breakdown of the different types of strategies.

Long-Term Care Strategies:

  1. Traditional Long-Term Care Insurance:
    • Provides coverage for services like nursing home care, assisted living, home healthcare, and adult daycare.
    • Benefits are typically activated when the insured cannot perform certain activities of daily living.
  2. Hybrid Life Insurance with Long-Term Care Rider:
    • Combines life insurance with long-term care coverage.
    • Offers a death benefit, and if not used for long-term care, the benefit is paid out to beneficiaries.
  3. Annuities with Long-Term Care Rider:
    • Offer both a steady retirement income and access to funds for long-term care.
    • Payouts for long-term care are often tax-advantaged.

Understanding Life Insurance and Annuities with Long-Term Care Riders

A long-term care rider is an optional feature that can be added to a life insurance policy or an annuity. It provides financial benefits to the insured if they require long-term care services due to chronic illness, disability, or aging. 

When added to a Life Insurance Policy, it allows the policyholder to access a portion of the death benefit early to cover expenses related to long-term care, such as in-home care, nursing home care, or assisted living.  This can be a significant advantage, as it covers additional costs without depleting other savings or assets. Importantly, if you are among the fortunate 30% of people who do not need long-term care, the death benefits are given to your beneficiaries; this feature ensures that the policy remains a valuable asset for estate planning.

When added to an annuity, this rider allows the policyholder to access funds to cover expenses related to long-term care, such as in-home care, nursing home care, or assisted living. This can be particularly beneficial as it offers a way to use the annuity’s value for health-related expenses, which might otherwise impact retirement savings.

The Insurance Hub’s Personalized Approach

Different types of long-term care options exist because individual needs and circumstances vary greatly, especially when it comes to health, age, financial resources, and family support structures. 

Choosing the right long-term care option is crucial because it ensures that the specific care needs of an individual or family member are met.

The right choice can provide the necessary level of care, whether it’s in-home assistance, adult day care, assisted living, or nursing home care. The Insurance Hub plays a vital role in this decision-making process. We understand that selecting the appropriate long-term care option is a significant and often complex decision. 

Our commitment is to care genuinely and take the time to understand each family’s unique situation. 

We help guide you through the various options to ensure the one selected meets immediate and long-term care needs and fits the financial framework of the family. 

Our expertise and personalized approach make us a trusted partner in finding the best long-term care solution for each family. It’s important to discuss these options with a knowledgeable insurance agent at The Insurance Hub to determine the best fit for your individual needs and financial situation. 


Choosing between Traditional Long-Term Care Insurance Policy, Life Insurance with a Long-Term Care rider, or an Annuity with a Long-Term Care rider is an important decision that depends on your financial goals, needs, and preferences. These options have their advantages and considerations. Here’s a comparison to help you make an informed decision:

Traditional Long-Term Care Insurance:

  • Coverage for Various Services and Facilities: Traditional Long Term Care Insurance policies typically cover the costs of care in a variety of settings, including nursing homes, assisted living facilities, and at home. They can help pay for professional help with daily activities like bathing, dressing, and eating, or skilled nursing care and therapy services.
  • Protection of Assets and Savings: These policies help protect your savings and assets. Without it, the expenses of long-term care could quickly deplete personal savings, retirement funds, or the equity in your home.
  • Flexibility and Control: Many policies offer some flexibility in terms of how the benefits can be used, such as care setting, caregivers (in some cases family

Considerations for Traditional Long-Term Care Insurance:

These policies have seen a decline in recent years as they work on a “use it or lose” basis. If a policy holder does not end up needing long-term care, the premiums paid do not offer a financial benefit to the policy holder nor beneficiaries.  Following are two options that do.  


Life Insurance Policy with LTC Rider: 

  • Death Benefit:  Life Insurance policies with a LTC rider provides similar services as Traditional LTC Insurance along with a death benefit. If you don’t use the LTC benefits, the policy pays out a death benefit tax free to your heirs.
  • LTC Coverage: It allows you to access a portion of the death benefit early to cover LTC expenses, reducing the amount going to your beneficiaries.
  • Legacy Planning: If it is important for you to leave a legacy for your heirs, this option allows you to potentially preserve some assets for them through the death benefit.
  • Borrowing Rights, Tax Free: Some types of Life Insurance allow you to borrow against the cash value. You, in effect become your own bank, enabling you to borrow from your “bank” without limits to what you’d like to purchase. 

Considerations for Life Insurance with a LTC Rider:

Premiums for life insurance policies with LTC riders can be higher than those for standalone LTC insurance. The policy’s effectiveness in covering LTC costs may depend on the size of the death benefit.


Annuity with LTC Rider:

  • Income Stream: An annuity with an LTC rider provides similar services as Traditional LTC Insurance along with an income stream during retirement. It can guarantee a regular stream of income for as long as you live, which can help cover LTC expenses.
  • Asset Protection: Annuities with LTC riders often protect your assets from being depleted by long-term care costs. 
  • Tax Benefits: Depending on the type of annuity and the LTC rider, some portions of your withdrawals for LTC expenses may be tax-free.
  • LTC Flexibility: Annuity-based LTC riders may offer flexibility in how you use the funds for LTC expenses, such as home care or assisted living.

Considerations for Annuity Long-Term Care Insurance:

Annuities typically involve surrender charges and may have fees, so it’s important to understand the cost structure. The LTC benefits may reduce the annuity’s overall value, potentially affecting the amount of income you receive.



The knowledgeable agents at The Insurance Hub will help you evaluate how you feel about these factors: 

  • Your Goals: Consider whether your primary goal is ensuring your LTC is paid by you (Traditional Long-Term Care Insurance), to leave a financial legacy (life insurance), or to secure income for retirement (annuity).
  • Risk Tolerance: When choosing between traditional LTC insurance, Life Insurance with a LTC rider, or an annuity with a LTC rider, weigh your risk tolerance, including your comfort with varying premiums and stock market volatility.
  • LTC Needs: Assess your potential LTC needs and whether the coverage provided by the traditional LTC insurance, life insurance policy with a LTC rider, or annuity with a LTC rider aligns with those needs.
  • Legacy Planning: Consider how important leaving a legacy is to you and whether you are willing to use part of the death benefit for LTC expenses. Consider the financial situation of your children and if they would feel relieved knowing that you have secured financial protection for LTC needs.  
  • Cost: The Insurance Hub will help you compare the costs of premiums, fees, and charges associated with both options.

Contact The Insurance Hub for a no-charge, no obligation consultation with an agent who specializes in LTC planning.  We will help you determine the option aligns with your financial situation and long-term care goals. Your decision should reflect your unique circumstances and priorities.

A: While it’s true that not everyone will require long-term care, statically 70% of us will, so it’s important to plan. Without a plan, you may have to rely on personal savings, assets, or Medicaid to cover the costs if you ever need extended care due to a chronic illness or disability.

A: Medicare provides limited coverage for short-term skilled nursing care and rehabilitation services, but it does not typically cover long-term custodial care, which includes assistance with daily activities like bathing, dressing, and eating. Long-term care plans are designed specifically to fill this gap and provide coverage for extended care needs that Medicare does not cover.

A: Never assume you are eligible for Medicaid long-term care coverage.  You must meet certain asset and income requirements.  Also, the level of care and the environment in which you’ll live may not be up to your standards.  Ask the facilities if you can see a Medicaid paid “bed” and a private pay room.  Whenever possible, ask residents in each for input on the quality of their care. 

A: Costs for individual plans can vary widely and may be difficult to estimate without speaking with a licensed The Insurance Hub agent.

A: Advisors will say that the optimal age to arrange a long-term care plan, assuming you’re still in good health and eligible for coverage, is between 60 and 65.
This assumes that you don’t have hereditary problems that can affect your premiums.

A: A long-term care insurance inflation protection rider will ensure your benefits keep pace with inflated long-term care costs. With most policies, even though your benefits are increasing each year, your premium does not automatically increase when you add an inflation protection rider. The Insurance Hub agent will guide you through the decision-making process so that you thoroughly understand your financial decisions

A: The bottom line is that we don’t want to think about it. In a recent study, about 65% of the participants said the fear of upsetting family members is the biggest barrier. Discussions about aging, illness, and long-term care are emotionally difficult. It is human nature to fear confronting our own mortality and we worry about burdening our loved ones with the responsibility of caregiving. However, having open and honest discussions about long-term care plans can alleviate these concerns and ensure that your wishes are understood and respected. It’s an essential conversation for planning your future care and financial security.


In a recent survey, only 9% of respondents said that their financial planner brought up Long-Term Care Insurance as part of their financial planning discussions. There are a few reasons for this:

  • Lack of Understanding: Many financial planners and advisors may not fully understand the options and benefits. It’s a specialized area of insurance. 
  • One-Time Commission vs. Assets Under Management: Financial planners can earn commissions when selling insurance products like Long-Term Care Insurance. However, commissions are typically a one-time payment unlike the percentage they earn for managing assets under management for a period of time. 
  • Complexity and Sensitivity: Long-Term Care Planning can be complex and sensitive. Advisors may be concerned about how to broach the topic with clients, especially when it involves discussions about aging, illness, and potential future care needs.

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