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. 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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