Long Term Care Insurance is the "Ultimate" GAP Insurance

Presented by Mike Nelson

A nuts and bolts approach to reviewing where we stand today with respect to the Affordable Care Act and its impact on your business.

Highlights

It is estimated that 75% of all credit Union Members are age 50 or older according to myCUsurvey. Living longer is wonderful but it doesn’t come without some risks. Today 70% of those who live past the age of 65 will need to be provided some kind of long term care that is very expensive and in too many cases exhausts all of the assets that they have saved over a lifetime, leaving many families destitute. Too many credit unions have looked past their largest demographic, perhaps the greatest opportunity for fee income to the credit union and asset protection for their aging lifelong members to bridge the gap beyond the day they retire and years into their future.

Takeaways

• How Long Term Care Insurance (LTCI) is similar to the familiar GAP Insurance
  
• How LTCI can bridge the gap between retirement and the need for care
  
• How LTCI protects the members’ assets
  
• What the State Partnership Program can offer to enhance asset protection
  
• Why LTCI is a self-sustaining fee income opportunity for the credit union
  
• The different LTCI products that are available to meet a variety of member’s needs