Frequently Asked Questions (FAQs)

"What if I never use the insurance and end up wasting all that money?"

"I think I'm too young. I think I should wait to buy my LTC insurance."

"I will need to think about it some more before acting"

"Do you offer SEMINARS on Long Term Care insurance and related issues?"

"I suspect I'm too old or am uninsurable, so why bother?"

"I don't want my premiums going up every year. Is there any rate guarantee?"

"What tax benefits are there with my LTC insurance?"

"What about businesses? Do they have tax incentives?"

“Do you offer educational forums we can present to our company?”

"Do any of your plans have interesting features or riders like Survivorship, Shared Care, indemnity plans, Restoration of Benefits, Ten-Pay option, Pay to Age 65, Family discounts, International coverage, nonforfeiture, Return of premium if the insurance is never used, Waiver of Premium during claim, funds for Home Modifications, etc?"

"My workplace is offering long term care insurance through payroll deduction. Am I correct to assume that you would not be able to beat their price and value?"

"What if I never use the insurance and end up wasting all that money?"

Your odds of requiring Long Term Care in your lifetime are very high statistically. It’s much higher than your chance of a home fire or catastrophic illness. Add the fact that health insurance and Medicare will not cover most long term care costs, and you immediately see your risks.
We hope we never use any of our insurance policies. We hope our house never burns down and are happy when we never have to make a claim. We hope we're never in a severe car accident but we do have car insurance. And we hope we never use it either. But we still carry those insurance policies because it makes sense, is good risk management and it gives us peace of mind. Why? Because we know a catastrophe could happen, and now we're prepared! If you don't use your other insurances, you feel fortunate. Whether you end up using LTC insurance or not, it always pays in the form of "peace of mind".

If you never use it, that means you never needed LTC. That would be wonderful news. That means you didn't have a stroke, didn't get Alzheimer's, didn't burden loved ones, or spend down your retirement funds. However, now you're prepared to handle these situations if they do happen.

"I think I'm too young. I think I should wait to buy my LTC insurance."

Be sure you first have regular health insurance in place. If you're under 45 and have children still at home, I'd even put disability insurance ahead of LTC insurance. However, the reasons I recommend people over age 45 get LTC insurance include:

* We don't know when we could become uninsurable. You buy LTC insurance with your money, but your "ticket" is your good HEALTH. Negative health news can be placed on your medical record suddenly, making you uninsurable, unless you already have the coverage in place. Conversely, the moment you write a first check to apply for coverage, your health history is “frozen” up to that point. If you wait to purchase the insurance until you see you could use the insurance, you’re probably uninsurable at that point.

* Your premiums are so much lower when you're younger that you'll pay less in total premiums by starting younger, even though you'll probably be paying for a longer time before needing LTC. You'll be far more likely to get "preferred health" discounts and couples/marital discounts the younger you are when you apply. You cannot be singled out for a rate increase either. The insurance companies we use have had a very stable premium rate history overall.

"I will need to think about it some more before acting"

Our approach gives you that time, as you should take time to be sure. Most companies take up to two months to get you issued and then by law give you another 30 days for a free look period after you've received the policy. This gives you up to three months to carefully review the policy and proposal, while giving you conditional coverage. You can always change your mind in the free look period and get all your money back.

"Do you offer SEMINARS on Long Term Care insurance and related issues?"

YES, I regularly give free 50 minute seminars all over the Northwest. Please fill out the inquiry form and mention you're interested. I'll let you know when the next one near you is scheduled. Attendees tell me they find the seminars fast moving, instructive and very interesting. Call me for more details (1-888-859-8778). We often have other experts delivering information also – such as on estate planning and elder law.

"I suspect I'm too old or am uninsurable, so why bother?"

That's the best thing about being appointed with so many companies: they all have different underwriting criteria. This allows me to cover many people other companies may be turning down. I can often cover people who assume they are over the weight limit, or who are insulin diabetics, have had a stroke or TIA with good recovery, or been told they are uninsurable. I may be able to accept applications from people up to age 85. I'll put my vast experience and knowledge of the many companies' underwriting requirements to work serving you to vastly improve your odds of being accepted. You have nothing to lose. Call me today.

"I don't want my premiums going up every year. Is there any rate guarantee?"

I do have some companies that guarantee their rate for up to five years. You can also choose to pay off your premium in a single payment or over 10 years. This avoids any potential rate increases in the future. The companies I currently recommend to my clients have never had a rate increase, ever, to their existing clients. Yes, rates can be increased, but only if the state insurance commissioner allows them to raise everyone who has the same kind of policy, in the same class and state at the same time. You cannot be singled out for a rate increase for any reason, even if you get older or even if your health changes dramatically. Your policy is also guarantee renewable, except for non-payment of premium within the grace period.

"What tax benefits are there with my LTC insurance?"

I do not offer tax advice since I'm not a tax advisor or CPA. Please consult them for specific answers to tax questions. Ask me to send you your own free copy of the "Shopper's Guide to Long Term Care Insurance", which also addresses these questions. If you live in Oregon, please be aware there is a wonderful 15% tax CREDIT available on your state income tax up to a maximum of $500 per household. Please see your CPA or tax advisor for details.

"What about businesses? Do they have tax incentives?"

YES. I'll be happy to send you some published material on this exciting topic if you fill out the request form. Again, see your CPA or tax advisor for full details. Corporations, so far, are allowed to be selective about whom they cover. They may choose to cover only certain key executives or "key employees". Long Term Care Insurance to date does not fall under "Cafeteria Plan" rules or ERISA.

C-Corporations have especially attractive tax advantages: The premiums paid by the employer are not counted as taxable income to the employee. The entire premium, with no limit, may be a business expense tax write-off to a C-Corp. At time of claim, the benefits are not generally counted as income to the employee either. Ask me to send you the full explanation in published material I have.

Rules vary from the above if you have an S-Corp, sole proprietorship or LLC. For example, there are limits each year on the dollar amount of premiums that can be deducted as a business expense with S-Corps and others. I'd be happy to give you up-to-date documentation on this subject. You should consult your CPA or tax advisor. Many companies are offering long term care insurance as an employer-paid benefit on an "Executive Carve-out" basis for executives and key employees. You can also offer voluntary LTC insurance plans to your employees, on an employee-paid basis. I'd be delighted to help you with either idea.

 “Do you offer educational forums we can present to our company?”

Absolutely! I’m certified with LTC Financial Partners to deliver their Outreach and Education Program. It’s free, it’s turn-key, simple to implement. Just call me. This is a non-selling environment. Attendees leave with a free copy of my booklet “Dignity for Life” and other materials.

"Do any of your plans have interesting features or riders like Survivorship, Shared Care, indemnity plans, Restoration of Benefits, Ten-Pay option, Pay to Age 65, Family discounts, International coverage, nonforfeiture, Return of premium if the insurance is never used, Waiver of Premium during claim, funds for Home Modifications, etc?"

Yes, yes, yes. I have many, many options I can offer you. I do an intensive fact finding analysis of your needs and wants and then present you with your best options after doing my due diligence of your needs. You've come to the right place. Fill out the request-to-meet form or call me at either 503.939.4446 or 360.687.1838.

"My workplace is offering long term care insurance through payroll deduction. Am I correct to assume that you would not be able to beat their price and value?"

It's wonderful to see more and more worksites offering LTC coverage as a voluntary employee-paid benefit. The group plans are getting better and better. However, I can still usually get you a better price and coverage with a private, individual plan than what you may be offered at work - especially if you're married and in excellent health. Most multi-life or group plans do not give "preferred health" discounts like I can, and some don't even offer a marital discount. So shop with me before deciding. Let me show you a side-by-side comparison -- then you decide which is the best price, best value for your needs. Fair enough? Obviously, if your employer is paying for your coverage, take it. However, many of those plans are "skinny" in what they provide and may leave you without adequate coverage. I'll gladly give you a free evaluation of what you're being offered. Then you decide what you want to do when you're ready.

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