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Long Term Care Insurance

Every day, 10,000 Americans turn 65 years old and more than 50% of them will require LTC in the future.

Long Term Care Insurance

The vast majority of Americans believe in the importance of planning for long term care needs.

Long Term Care Insurance

9-in-10 financial advisors agree that the tax-free leverage of LTC insurance is an attractive alternative to self-funded care.

Protecting and preserving your client’s financial goals means protecting them from the financial impact of an extended care event. The data suggest that many of your clients have likely experienced how difficult it is to care for a family member who can no longer care for themselves.

While a majority of clients worry about long-term care costs after retirement, many do not understand how today’s long-term care insurance solutions can relieve that burden for themselves and their loved ones in the future. OWR is committed to crafting solutions that integrate with your client’s goals so that you can honor your commitment to their financial well-being.

OWR offers traditional long-term care insurance, asset-based/hybrid polices, annuities and life insurance with chronic illness riders. These solutions offer clients the flexibility to get the protection they need with the features they care about. 


Long Term Care Insurance

The Client

April is a 57 year old, single mom who runs her own small business. She has term insurance for income protection for her son, but leaving him an inheritance is important to her. She recently assisted with her mom’s care and saw firsthand how difficult it was financially for her mom, and emotionally for her and her sisters. She was very concerned of the increasing costs of care and having to use all of her assets to pay for her care.

Long Term Care Insurance

The Conversation

OWR team prepared a side-by-side comparison of a traditional LTC policy, a life insurance with a rider, and an asset-based long term care (hybrid) solution for April. This quickly enabled April to identify the best solution for her needs: a life insurance policy with a chronic illness rider. It allowed her to accomplish her dual goals and to make payments over the next 10 years rather than waiting and worrying until retirement.

Long Term Care Insurance

The Solution

April obtained a $450,000 life policy with a rider, allowing her to accelerate her death benefit to receive $9,000/month (via EFT – no receipts required) for a qualified long term care event. Her son will receive any unused portion of the death benefit. By using an IUL policy with a guarantee, a portion April’s $1,400 monthly premium will be allocated into indexed accounts, adding additional flexibility and potentially increasing the legacy she leaves her son. By listening to April’s concerns and considering multiple solutions, OWR helped April find a solution that fit her needs.