JH has a new LTC coming...

[Crabcake Johnny]

Its hard to believe no one in this forum sells LTC.

When I took my CE credits the instructor used to sell LTC. Apparantely the paperwork is very daunting, "younger" clients in their 50's don't see the need and most older people can't qualify.

 

[midwestbroker]

I have read that you should look into LTC 10 years prior to needing it.

That would be looking at it in your yearly - mid 60's.

Most of my clients are 65+ years of age. If they qualify for it, they typically cannot afford it. If they can afford it, they cannot qualify for it.

I have been talking to some other IMO's about LTC with the senior market. They have told me about some carriers that have more limited plans that are easier to get, but I have not looked into them quite yet.

I have also been told that the life / LTC policies are becoming more popular, but then you have to find someone that will qualify with a lump sum of money.

 

[Crabcake Johnny]

In certain situations you can look into hiring a private nurse. My niece is a RN and on the side contracts out. Right now she has a family she does home nursing for and she doesn't charge that much.

Obviously this would only work in situations were a relatively low level of care is needed.

My sister-in-law went another route when her mother - then in her 80's - could no longer live by herself. She moved her in and hired a live-in "caregiver" which supposedly was much less expensive then nursing home care.

Again, not an option for people who need a lot of medical care, but definitely an option for those in the tough spot where they can no longer live on their own yet don't need daunting medical attention.

 

[James]

Around here you'll pay about 15-18 dollars an hour for sitting care, for skilled (RN, LPN) you'll pay 25-30 dollars an hour. Add up 24 hour care and you'll be well above the NH price. if you count other smaller charges such as equipment etc etc.. In fact at $15 an hour 24 hours a day 7 days a week and 50 weeks a year and you are over $100 grand easily. My wife's grandparents are now in the position of needing 24 hour care, three people, mainly my wife and mother in law are doing the heavy lifting. It isn't easy and this isn't my first time taking care of elderly people no longer able to take care of themselves and basically (as in my wife's grandfather) a death watch for the last year and it just keeps on going.

 

[James]

Here is a John Hancock Application Brochure (book)!

http://f1.grp.yahoofs.com/v1/gJ0jRh...0wHRF4s_gPmAPax_Z_cx6GSc/john hancock app.pdf

 

[Crabcake Johnny]

My niece doesn't do that level of care. Her client is about 10 minutes away from her and once a day she goes there to administer medication and just to basically check in. She bills 1 or 2 hours.

I called my sister in law and she paid $250 a week plus the caregiver got room and board for her mother. Far less than the $150 per day average of a nursing home. But again, this is not medical care. Her mother simply couldn't be left alone and someone needed to be in the house with her at all times. That's not a bad option.

It also depends on your family network. My mother has already conveyed that under no circumstances does she want to be in a nursing home and since she's in her mid-70's there's already family discussions about her living with one of the kids.

Some of this falls on the wishes of the person. My grandfather was diagnosed with terminal cancer at age 82. He refused to even go into the hospital none less any type of care. He wanted to die at home and that's exactly what happened.

 

[johnrocks]

An LTC app. is more through than a life or health app. Somehow I think that is part of the problem, it is too daunting to do for the agent and the client, they need to somehow try to streamline it. Met Life has done it to a degree by offering like a value plan as well as two other plans but all that has done is "group" benefits into a plan, you still use the same app. I heard that MoO has come out with a more streamlined plan but I haven't seen it yet.

 

[James]

My niece doesn't do that level of care. Her client is about 10 minutes away from her and once a day she goes there to administer medication and just to basically check in. She bills 1 or 2 hours.

I called my sister in law and she paid $250 a week plus the caregiver got room and board for her mother. Far less than the $150 per day average of a nursing home. But again, this is not medical care. Her mother simply couldn't be left alone and someone needed to be in the house with her at all times. That's not a bad option.

It also depends on your family network. My mother has already conveyed that under no circumstances does she want to be in a nursing home and since she's in her mid-70's there's already family discussions about her living with one of the kids.

Some of this falls on the wishes of the person. My grandfather was diagnosed with terminal cancer at age 82. He refused to even go into the hospital none less any type of care. He wanted to die at home and that's exactly what happened.

I lived thru now 4 close people to me that needed hospice care, or elderly (extreme) care and it isn't easy and very expensive if one doesn't have people to volunteer services such as family. Which is one major problem, its just now that LTCi is working thru a way of aiding financially family members providing care, not good yet but I'm sure they'll have to address it sooner or later in a more thorough way. While I'm not going to say my marriage is on the rocks because of this but it is under great stress because granddad refuses to spend a dime of his own money (he has substantial savings) for outside help even parttime to give his daughter or my wife a break.

Now don't get me wrong, he lived a great life, a Navigator in WWII, flew all his missions and came back alive. Has been a good provider for his family if not a bit odd but his family always had what they needed. Yet his daughter has health issues and I'm watching her age quickly attempting to keep her job as a RN at UT along with my wife a case manager and then having to provide near 24 hour service. It creates a lot of ill feelings between families, very common. When I was in the DME business I had to go into homes and work with hospice and elderly care on a daily basis, it is very expensive when they age and start going down hill. Home care or NH, its all expensive and 24 hour care if paid for is very expensive and exceeds in most cases NH care. He is on dialysis three times a week (for over a year now) and goes into the hospital at least once a month, has had both big toes cut off due to infections next are the feet. Grandma has Alziemhers and its kicking in strong now. Once I walk into their home with my MIL (mother in law) and she fell in the cabinet under her sink she keeps her trash can (was in the trash can) in and couldn't get out and in her underwear and she is 82. Dang I just shook my head and told MIL she had to do this one! Okay it was kind of funny, she screaming and her butt (82 yr old butt) waving in the air, oh my not a pretty picture.