Feb 19

Welcome SUZE ORMAN Readers and Everyone Else!

Confused about long-term care insurance? Please watch this 17 minute educational video by Phyllis Shelton.


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  1. Mary Kay

    Hello Phyllis, I am a 62 year old (healthy, non-smoking) woman. Any recommendations for getting LTCI at my age?
    Thank you.

    1. Phyllis Shelton

      62 is YOUNG Mary Kay! Options abound! The questionnaire on my “Contact Us” page will get us started. I’m looking forward to visiting with you and making some recommendations that fit your situation.

  2. Martha

    I am 54 and my husband is active duty servicemember. I would probably be eligible for the federal long term care insurance. Is there any benefit to using the federal program?

    1. Phyllis Shelton

      Yes Martha you and your husband are eligible for the Federal LTC insurance program. You should do that. The premiums are more affordable and the insurance company behind it is John Hancock. Be sure and buy the inflation – 5% compound is best and is affordable on the Federal program.

  3. Heather Wuthrich

    My husband and I shopped for LCI through our insurance broker last year who recommended a Single Premium Current Interest Whole Life Insurance with Long-Term Care Benefits through The State Life Insurance Co. As I look through the policy today, I can see it doesn’t have an insurance option. It has a flat monthly benefit of $9000 for lifetime benefits. I have family who lived well into their 90’s and lived in assisted living for 15+ years. It comes with a continuation of benefits rider. I would greatly appreciate any thoughts…

    1. Phyllis Shelton

      Heather I believe you meant to say there is no inflation on the benefit and you are right to be very concerned abuot that! Lifetime benefits are fantastic but you have to make sure the benefit is as meaningful in the future as it is today. The first part of the State Life policy advances the death benefit to pay a claim. Your broker was right to bump up the monthly benefit above current cost as that part doesn’t usually have inflation coverage. In other words, you are self-insuring the difference between the cost of care when you have a claim and the $9000 monthly benefit. Hopefully he used a 3% acceleration factor so that time period only lasts 33 months instead of a 2% factor which would make it last 50 month. The lifetime (unlimited) continuation of benefits past the death benefit should have an inflation rider attached to it of 3-5%. If it does not, you need to ask your broker to add it. If you need my help further, please feel free to reserve a time with me: Phyllis Shelton’s calendar

  4. DeeDee Miller

    My partner and I are looking at buying life ins. Policy for $150k With a long term care component through One America Asset Care, the joint policy we are looking at is for monthly payout of 4500.each. We are looking at a 20 year payout with a monthly rate of $534.00 with guaranteed no increases. Do you have ny experience with this company? If so, any pitfalls or questions we need to ask the sales rep. Note I am 63 and my partner is 61 with no health issues and are non smokers.

    Thank you for your time.

    1. Phyllis Shelton

      Yes, OneAmerica is a fine company! Be sure to plan for inflation. I recommend doing that by looking at the cost of a really nice assisted living facility today and projecting that cost at 5% compound. I do that because most people will never be in a nursing home, and I know that will pay a lot of home care. I don’t know where you live, but in most parts of the country, you can use $5000 a month as today’s cost. This is higher than what you see on cost of care surveys as the surveys are showing the median cost, and I add $1500 to that cost to get the cost of a nice place that you would want to consider. $5000 in 20 years will be about $13,200 a month. So if your benefit is still $4500 a month in 20 years, are you comfortable making up the difference of $8700 a month for several years? And of course the cost of care will continue to climb each year. Please discuss inflation with your agent.


    Hello Phyllis,

    I enjoyed watching your video which made me decide to specialize in selling LTC. I am a licensed agent residing outside Detroit, MI.
    Do you work with insurance agents selling the LTC products? Best regards,

    1. Phyllis Shelton

      Yes! I am happy to help agents who are serious about helping families with the essential need for LTC planning and really, longevity care planning. I just have to be sure you and I share philosophies on how to do it. Please feel free to call me at 800-582-8425 and we can discuss a strategic alliance.

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