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Archives for June 2015

Proof that Millionaires Need Long-Term Care Insurance

June 12, 2015 by Honey Leveen Leave a Comment

MillionaireA recent New York Times article titled “Millionaires Who Are Frugal When They Don’t Have to Be” resonated with me. It describes the spending habits of many multi-millionaires and sheds light on why people of high net worth should definitely own long-term care insurance (LTCi).

The article confirms what I have seen over and over again during my 25-year career when very affluent people need long-term care.

From the article: “There were common threads in this group. These were people who had all made the money in their own lifetimes and done that as much by saving, investing and making careful choices about spending as by making large salaries.”

Such people create their own wealth and happiness step by step, painstakingly, responsibly, day-by-day. It’s hard! Money is happiness and security. They do not like spending it. Each dollar still has great meaning, even when you have more than enough money to buy just about anything you want, with no concern.

For many years in my practice, most of the time, people who can well afford to self-insure (pay all of their expenses themselves) for long-term care, choose not to!

I see this over and over again and have testimonials from very affluent clients admitting they would not be availing themselves of home care or assisted living were it not for their LTCi.

I have testimonials from children of affluent clients admitting their lives are much different, they are not bound and shackled into caregiving roles, because their parent owned and collected from their LTCi (check this site’s Testimonials page).

I see personal friends who had the opportunity to buy LTCi but did not when they were able to. I know they have the resources to pay for long-term care, but instead, the healthier spouse and/or kids are their caregivers. This outcome is stressful, regrettable, avoidable and undignified!

Filed Under: Denial, Elephant in the Room, Helpful Information About LTC, I'll Just Self-Insure, New York Times, The Magic of owning long-term care insurance Tagged With: Honey Leveen, Long Term Care insurance, LTCi, www.honeyleveen.com

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Fax: 281-829-7177

Email: honey@honeyleveen.com

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Open Quotation Mark"Honey - Whenever I need a clarification regarding our “LTC” you are “Johnny on the spot” responding in a very prompt manner, reassuring me, informing me in a concise way, patient with me as I massage the understanding in my own words. Your knowledge is current and expressed with confidence, offered in your conscientious and upbeat personality. Quotation Mark ClosedIt is a pleasure to work with you. Thank you for your expertise." ~ Nancy Damon, Houston, TX
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Honey Leveen, LUTCF, CLTC, LTCP
“The Queen, by Self-Proclamation, of Long-Term Care Insurance (LTCi)”
404 Royal Bonnet
Ft. Myers, FL 33908

Phone: 713-988-4671
Fax: 281-829-7177

Email: honey@honeyleveen.com

Email: honey@honeyleveen.com

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