Newer Thoughts on Long Term Care Insurance

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Most LTCI policies are SOLD… not Bought!

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By Dr. David Edward Marcinko MBA CMP

To be sure, physicians and Financial Advisors are aware that there is a sometime need to recommend a LTCI policy to clients. Of course, in such cases, it is a good idea to work with a low load provider (or the physician or client’s agent).

The Need?

Yet, most LTCI policies are sold by insurance agents for big commissions; not bought, and that most statistics used to sell LTCI policies are fear-based and half-truths. I know, as I was a licensed insurance agent for more than a decade.

Even the Department of Health and Human Services [DHHS] gets into the fear mongering on their website quoting that “about 70 percent of people over age 65 require some type of long-term care services during their lifetime”


Department of Health and Human Services

This may be a deceptive statistic as it omits the length of long-term care needed in these 70% of cases. And, it is not 3+ years in all these cases [our estimate is closer to 2.5]. With the stamp of approval by the Supreme Court of the United States SCOTUS on the PP-ACA, we may be looking at social LTCI in the US like other social medicine countries and give up on private LTCI insurance altogether.

Other Countries

Germany introduced mandatory long-term care insurance in 1995. Japan and France also have a LTCI tax funded insurance plan. And, the poor utilization and growing risks associated with long-term care insurance, are leading a growing number of insurance agents, financial advisors and Certified Medical Planners™ to recommend alternatives to their clients.





To be a thought-leader ahead of the curve, the newest aging trend is away from LTCI and toward sheltering at home – living at home and dying at home. Perhaps, this is the way it should be.

Dying should not be a for-profit industry.



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Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact:




  Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™    Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

[Dr. Cappiello PhD MBA] *** [Foreword Dr. Krieger MD MBA]


2 Responses

  1. LTCI

    Just like any other line of insurance you’ve got to take a look at the numbers and see what makes sense to you as a client. The truth is, we can debate the numbers and statistics from various sources but for most clients – when you factor in the cost of a two to four year stay in a nursing home a lot of people’s retirement plans would be derailed by that type of unexpected expense.

    I think something to be considered and looked at seriously are the newer hybrid long-term care insurance policies that give you long-term care if you need it and life insurance if you don’t.

    That way the risk of paying premiums into a traditional long-term care insurance policy and suddenly dying of a heart attack is mitigated.

    If you die suddenly, your heirs will receive a tax-free Capital injection that may help with funeral expenses, a state expenses, or even income replacement. If you do end up needing care, of course depending on the size of the policy, this could help cover some or all of the costs necessary to get you the type of care that you want.

    In-laws one of the biggest variables of level of care. Most of my clients and clients I’ve worked with in the past would prefer to stay in the comfort of their own home. However, skilled Care at home can be very expensive so you have to weigh your options and do the best you can.

    The need for long-term care in my opinion is only going to increase as people continue to live longer and healthcare costs continue to go up. if the government incorporates some sort of social program outside of Medicare then of course we will all go back to the drawing board and come up with solutions that benefit our clients.


    Liked by 1 person

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