In this episode of Healthcare Happy Hour, David Saltzman and Steve Cain, director, sales & business development leader, at LTCI Partners, discuss the evolving landscape of long-term care insurance. They explore the current state of the market, the impact of demographic shifts, and the role of public programs in shaping private insurance conversations. The discussion highlights the importance of long-term care planning and the need for financial advisors to engage clients in these critical discussions. Looking ahead, they anticipate continued growth and demand for long-term care solutions as awareness increases.
Takeaways
- The long-term care insurance market is experiencing a resurgence.
- Demographic shifts are driving interest in long-term care planning.
- Combination life and long-term care policies are gaining popularity.
- Pricing for long-term care insurance has become more conservative.
- Public programs like Washington's Cares Fund are influencing private insurance sales.
- Employers are increasingly considering long-term care options for their employees.
- The market for small to mid-sized groups is evolving with new solutions.
- Financial advisors need to engage clients in long-term care discussions.
- Emotional and rational approaches are both important in selling long-term care insurance.
- The future of long-term care insurance will involve more public-private partnerships.
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