As Parents Age, Reality Sets In
It was early October when I received a call from Gail.
She had been referred by her son, an agent, who knew that we specialized in long term care planning. Gail and her husband had received one quote from another agent, but the premium was out of their budget.
Gail’s parents were both in their 80’s and she could see the possibility of them needing care at some point. Since she worked full time, she was starting to become concerned about not only that possibility, but also facing a similar issue as she and her husband aged. Neither of her parents had long term care insurance. It was at that point that Gail and her husband realized that they didn’t want to leave the burden of care to their three children and decided to pursue their planning options now.
Gail had received a previous quote from another agent, but the premium was well above what she felt they could afford.
Both Gail and her husband were relatively healthy.
Their son was an insurance agent and had heard about our company. Since long term care planning was our focus, he suggested they contact us for help building their plan.
We discussed plan designs and options. The company that was quoted previously was a good fit for them, but the benefit structure was overly aggressive and would yield benefits they likely would never utilize, and the premium amount would be difficult for them to manage.
We restructured the benefits and were able to cover a more realistic care scenario that they were likely to face. We also added features that were more important to them. In addition, they wouldn’t need to wait for benefits to be available while they received care at home. This was an important feature since it would make life easier for themselves and their sons. This approach resulted in a more comfortable premium. I walked them through the application process and they were approved a month later. They now keep their policy with their important paperwork.
James Haunroth is a long term care specialist with over 18 years of experience dedicated to fulfilling client needs in the insurance and financial service industries.
As a husband and father of four, James prides himself on helping other families maintain and improve their quality of life. He also understands how important it is to help those that might not have family members to lean on, prepare for a time where they will need quality care.
James takes the approach of finding what’s important to clients and listens to what concerns they may have. While explaining the details of planning clearly and simply, he works with them to help them find their solutions. James is currently licensed in 49 states and is appointed with 8 different carriers.