Long Term Care Insurance Expert | Honey Leveen | Houston, TX

Helping you make informed LTC decisions

 
Request a Free, No-Obligation LTCi Quote
  • HOME
  • ABOUT
  • WHY LTCi
  • LTCi FAQs
  • PROCESS
  • TESTIMONIALS
  • ARTICLES
  • MEDIA
  • RESOURCES
  • BLOG
  • VLOG

Archives for May 2016

Does Your Long-Term Care Plan Account for Your Own Normal, Natural Cognitive Decline?

May 19, 2016 by Honey Leave a Comment

What??Wade Pfau, PhD, CFA, whom I’ve previously praised effusively, writes about research confirming that we all will, very gradually, lose our cognitive speed, financial literacy and verve. I believe our natural good judgment will fade along with these things because I see my clients demonstrate this so very often.

Here’s a paper Dr. Pfau cites that illustrates this normal, natural cognitive decline.

Here’s another paper Dr. Pfau cites proving normal decline in financial literacy at advanced ages.

At a healthy age 63, I notice these changes in myself to a very minor extent. I am pretty sure it’s age related and not dangerous yet. It is just annoying.

I had breakfast with a long-time financial planner this week. He believes affluent people should self-insure for long-term care. I believe that he, like so many, is divorced from and not willing to imagine the psychological reality of what often happens at advanced ages.

I gave him many reasons why affluent people need long-term care insurance (LTCi). They buy it in disproportionately high numbers. I have blogged about this extensively.

Dr. Pfau’s article gives compelling scientific proof of why the elderly are often the victims of their own bad business decisions.

I see in-person proof of these same things. Even if they have no diagnosis of cognitive impairment, I see elderly clients making very bad personal and business decisions, time and time again. I am very disturbed by this.

Children of affluent clients with multi-million dollar wealth tell me their parents would not avail themselves of home or assisted living care without their LTCi.

From what I’ve seen with my clients during the past 25-plus years, the most important reason to own LTCi may be the lack of good judgment plus the common familial dysfunction that too often accompanies aging and decline.

Long-term care insurance provides a plan that plugs in and works. When need arises, no thoughts about which assets to liquidate to pay for LTC are necessary. Irrational thoughts of outliving savings are quashed. Thoughts of imposing on family members are minimized. LTCi can drastically reduce stress and increase quality outcomes.

Filed Under: Denial, Elephant in the Room, Helpful Information About LTC, I'll Just Self-Insure Tagged With: Long Term Care insurance, LTCi, Wade Pfau

Media Continues to Love Trashing LTC Insurance

May 16, 2016 by Honey Leave a Comment

The MediaI will never completely understand why inflammatory headlines like this are necessary: “Out-of-Control Premium Hikes for Long-Term Care Insurance”.

I do partially understand why they run inflammatory headlines. “If it bleeds, it leads”. Disparaging headlines sell copies.

Nowadays, the majority of LTCi media coverage is constructive. But readers usually have to get past negative titles and first paragraphs intended to “hook” people into reading the story.

In the case of Long-Term Care Insurance (LTCi), this is very harmful to the public. Disparaging headlines and lead paragraphs further encourage people to make excuses to avoid important, necessary conversations about planning for LTC.

In addition, inflammatory LTCi coverage fuels falsehoods such as out-of-control, wanton rate hikes and claim difficulties.

If people bother to read “Out-of-Control Premium Hikes for Long-Term Care Insurance” they will find excellent reporting on why today’s LTCi policies should experience very stable rates with very minimal odds of rate hikes.

Click here to read several blogs I’ve done that explain the reasons for and likelihood of LTCi rate hikes.

I want to give a “shout out” to my highly esteemed friends and colleagues Scott Olson, Steve Cain, and Jesse Slome who were quoted in this story. This article’s excellent content is largely due to their input.

Filed Under: Denial, Elephant in the Room, Helpful Information About LTC, I'll Just Self-Insure, Information About LTC, Misinformation About LTC Tagged With: AALTCI, Jesse Slome, Long Term Care insurance, LTCi, LTCi rate hikes, Scott Olson, Steve Cain

Spring Comes to LTC Insurance

May 10, 2016 by Honey Leave a Comment

SpringMy good friend and colleague Steve Forman has written a report titled “Spring Comes to LTC Insurance”. Here’s a link to the report.

Like me, Steve believes good times are coming for long-term care insurance (LTCi) sales. Here’s a blog I just did about how rate-stable today’s LTCi policies are.

Here’s an excerpt from Steve’s report explaining why the LTCi market is poised for an upswing in sales:

“While the last decade was marked by carriers exiting the long term care insurance market (from a peak of around 110 to today’s dozen or so), the transition to a soft market predicts new entrants will return. And that’s exactly what we’re seeing (aided by a new study from the Society of Actuaries which demonstrates to sideline insurers the remarkably good odds of a profitable future selling LTCI). Within the last twelve months, heavyweight endorser AARP has signaled a new partnership with the private market, a brand new carrier has announced its intention to sell traditional LTCI, and a third major brand has shed every product in its portfolio but LTCI.

Meanwhile, the number of life insurers who recognize the demographic opportunity represented by the Silver Tsunami is unprecedented: seven have entered the combo space within the past five years, while over twenty offer an accelerated benefit for chronic illness and/or critical illness. LIMRA reports that acceleration riders are now a “must have” benefit, and one carrier was quoted in confidence saying, ‘You will never see another life insurance product sold by us which does not include a long term care benefit.'”

Filed Under: Elephant in the Room, I'll Just Self-Insure, Information About LTC Tagged With: LIMRA, LTCi, Medicare, Steve Forman

Contact Me

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

Email: honey@honeyleveen.com

Hear From My Clients

From My Blog

Tony Bennett is Not in San Francisco

Tony Bennet's story has now gone public. It is uncannily similar to Glen Campbell's. Each was … [Read More...]

Same Old Story

Just a few months ago Al was enjoying his wife, family and traveling. An acute health event occurred … [Read More...]

Testimonials

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
Read more

Thanks for visiting my site! I like hearing from you!

Here’s how to reach me:

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

©Honey Leveen, Queen of Long-Term Care Insurance 2011-2015 ~ All Rights Reserved ~ Customization of Genesis Framework by Weborization