David Wolf

How LTCI is Priced
Dynamics of LTCI Pricing

Long-Term Care Insurance (LTCI) is priced and regulated as a level-premium contract. The insurer can, however, raise premiums on policies with similar coverage if the carrier can demonstrate that their initial pricing was inadequate to support their claims.

Understanding the actuarial pricing dynamics of Long-Term Care Insurance, provides some clarity into the historical pricing challenges and rate increases of older products as well… Show more

How LTCI is Priced
Dynamics of LTCI Pricing

Long-Term Care Insurance (LTCI) is priced and regulated as a level-premium contract. The insurer can, however, raise premiums on policies with similar coverage if the carrier can demonstrate that their initial pricing was inadequate to support their claims.

Understanding the actuarial pricing dynamics of Long-Term Care Insurance, provides some clarity into the historical pricing challenges and rate increases of older products as well as the more conservative pricing dynamics of today's LTCI industry. This article will enhance your understanding of the Dynamics of LTCI Pricing: Lapse Rates, Interest Rate Assumptions, and Claims Expectancies. Show less

LTCI Partnership
Partnerships with Medicaid

Long-Term Care Partnership Programs are designed to allow individuals who have utilized their Long-Term Care Insurance (LTCI) benefits to protect additional assets. These non-exempt assets no longer need to be spent on care in order to qualify for Medicaid. Assets are protected “dollar for dollar” through benefits paid under an LTCI policy. Thus, owners of “Partnership Qualified LTCI” products no longer have to reach state impoverishment… Show more

LTCI Partnership
Partnerships with Medicaid

Long-Term Care Partnership Programs are designed to allow individuals who have utilized their Long-Term Care Insurance (LTCI) benefits to protect additional assets. These non-exempt assets no longer need to be spent on care in order to qualify for Medicaid. Assets are protected “dollar for dollar” through benefits paid under an LTCI policy. Thus, owners of “Partnership Qualified LTCI” products no longer have to reach state impoverishment levels (if they utilize their benefits) in order to qualify. Show less

Claims Advocacy
3 Components of LTCI Claims

Long-Term Care Insurance claims are evaluated on the basis of three sources of information regarding the policyholder’s care-giving needs. The 3 Components of an LTCI claim are: 1) The care provider’s “Plan of Care”; 2) The physician’s medical records, and 3) The insurance carrier’s assessment. It is critical that these three components accurately represent the individual’s needs for claims approval. A Claims Advocate can be invaluable in… Show more

Claims Advocacy
3 Components of LTCI Claims

Long-Term Care Insurance claims are evaluated on the basis of three sources of information regarding the policyholder’s care-giving needs. The 3 Components of an LTCI claim are: 1) The care provider’s “Plan of Care”; 2) The physician’s medical records, and 3) The insurance carrier’s assessment. It is critical that these three components accurately represent the individual’s needs for claims approval. A Claims Advocate can be invaluable in ensuring the frail individual’s true needs are represented. Show less

Care Management
Success in LTCI Claim’s

Your parents are one of a kind. They have hopes, goals, fears, and especially care needs, unique to them and no one else. It stands to reason that decisions made concerning their care should reflect those individual wants and needs. So how do you make that plan? How do you choose only services which will benefit your family without invading their privacy, over- spending their resources, providing inadequate care, or exhausting yourself?

Protecting the Survivor
LTCI’s Role in a Financial Plan

Many believe their own personal risk for needing Long-Term Care is low and therefore do not need to plan for a future care need. The goal of the planning process is to shift the perspective so that the focus is not on the individual that may or may not need care, but instead on the individual who is more likely at financial risk… the surviving partner. The financial impact of a Long-Term Care need results when income-producing… Show more

Protecting the Survivor
LTCI’s Role in a Financial Plan

Many believe their own personal risk for needing Long-Term Care is low and therefore do not need to plan for a future care need. The goal of the planning process is to shift the perspective so that the focus is not on the individual that may or may not need care, but instead on the individual who is more likely at financial risk… the surviving partner. The financial impact of a Long-Term Care need results when income-producing assets are reduced or depleted to fund the care-giving needs. These resources are no longer available to produce income to support the income needs of a surviving partner. Show less

Shared Care
LTCI’s Role in a Financial Plan

For couples, the potential for a significant financial crisis invariably arises when the first member needs care, as this person can spend through assets that are needed for a surviving spouse. Shared Care allows couples to access benefits in their partner’s policy if that person exhausts his or her own policy benefits. If a partner dies without using all of his/her benefits, the shared benefits are retained by the surviving partner.

Strong Carriers
What to Consider When Buying

Careful selection of a Long-Term Care Insurance (LTCI) carrier is often overlooked by consumers focused on benefits and price. This can be a critical error. The carrier backing the insurance should be of paramount concern. Long-Term Care Insurance is purchased 20-40 years ahead of a likely need, and the thoughtfulness of this choice should reflect that long-term commitment. A carrier’s financial ratings, diversification, risk management… Show more

Strong Carriers
What to Consider When Buying

Careful selection of a Long-Term Care Insurance (LTCI) carrier is often overlooked by consumers focused on benefits and price. This can be a critical error. The carrier backing the insurance should be of paramount concern. Long-Term Care Insurance is purchased 20-40 years ahead of a likely need, and the thoughtfulness of this choice should reflect that long-term commitment. A carrier’s financial ratings, diversification, risk management practices, and corporate structure should not be overlooked. Show less

Legacy Planning
LTCI’s Role in a Financial Plan

Clients hold a variety of perspectives regarding the value of leaving assets for heirs and charities. For some, “leaving a legacy” (inheritance) is extremely important. Others feel less inclined to plan an inheritance. Understanding your client’s orientation towards legacy planning will assist you in guiding them to an appropriate Long-Term Care plan, as it will significantly influence how much insurance might be needed.

LTCI Leverage
LTCI’s Role in a Financial Plan

The advantage of Long-Term Care Insurance (LTCI) can be summed up in one word: LEVERAGE. Some clients can comfortably self-insure the expense of long-term care without significant financial risk. For others, these costs would create significant consequences. For both those who can and cannot afford to self-insure, LTCI can offer a way to leverage this risk by using a small portion of their investment earnings to protect their larger… Show more

LTCI Leverage
LTCI’s Role in a Financial Plan

The advantage of Long-Term Care Insurance (LTCI) can be summed up in one word: LEVERAGE. Some clients can comfortably self-insure the expense of long-term care without significant financial risk. For others, these costs would create significant consequences. For both those who can and cannot afford to self-insure, LTCI can offer a way to leverage this risk by using a small portion of their investment earnings to protect their larger portfolio. Additionally, those who own a business or are self-employed can use pre-tax dollars to purchase Long-Term Care Insurance (while still offering tax-free benefits*). This tax advantage offers additional LEVERAGE to the LTCI purchase.
*Subject to IRS maximums Show less

Long-Term Care E-Book
Planning for Longevity & Frailty

This E-book is a collection of articles addressing topics you will want to consider if you are considering purchasing Long-Term Care Insurance, such as: planning motivations, key questions, consumer concerns, product genres and features and tax considerations.

If you are considering an Long-term Care Insurance (LTCI) purchases, this invaluable guide will help you formulate good questions before you engage distributors of… Show more

Long-Term Care E-Book
Planning for Longevity & Frailty

This E-book is a collection of articles addressing topics you will want to consider if you are considering purchasing Long-Term Care Insurance, such as: planning motivations, key questions, consumer concerns, product genres and features and tax considerations.

If you are considering an Long-term Care Insurance (LTCI) purchases, this invaluable guide will help you formulate good questions before you engage distributors of the product. We hope to assist in making you an informed consumer when planning for potential future care needs. Show less