LTCI is Magical at Time of Need!

April 25, 2023 by Honey Leveen Leave a Comment

This is an actual, unsolicted, very meaningful, touching cleint testimonial, just recieved. I pasted it verbatim. I am getting a lot of feedback like this nowadays.

Long-term care isn’t typically needed until about 20+ years after long-term care insurance (LTCI) has been purchased. Many people have trouble envisioning this Big Picture view. This is just one reason why more LTCI is not purchased.

I am super proud of testimonials like this one. They touch me. With each one, my life’s work becomes more meaningful. LTCI can truly be transformative!

“Honey, Greetings – and most sincere thanks from a friend of many, many years ago in Houston. Hoping that you receive this, I am remembering back to the days when I had a flower shop here in southwest Houston and you suggested I purchase a Long Term Care insurance policy – which I did. Well, that has more than paid off – – in ways I never expected. As it turns out. This past December I was admitted to a long term care facility here in Houston with some minor “issues of aging”. The administration of course asked if I had a long term care policy – which of course I do – thanks to your foresight.

Very long story short, went to the mailbox last Friday and found a check payable to me from Continental General Insurance Co in the amount of $21,000.00 reimbursing me for 2.5 months of long term care insurance premiums – and advising me that as long as I am resident here at the long term care facility, I will receive a reimbursement of slightly over $300.00 per day towards the cost of my stay here – for the remainder of my life as long as I am resident here!

I had absolutely no idea that I would receive this – and am obviously grateful to you!

Love following you and Jim on Facebook – and, once again, most sincere thanks!

Jean K”, Houston, TX, April 2023

Tony Bennett is Not in San Francisco

February 15, 2021 by Honey Leveen Leave a Comment

Tony Bennet’s story has now gone public. It is uncannily similar to Glen Campbell’s. Each was concertizing well into his moderate-to-late stage dementia. Deeply entrenched job functions are some of the last skills people with dementia lose.

Mr. Bennett’s wife and son have begun to speak out. The article says Mr. Bennett started showing signs of Alzheimer’s in 2015.

Tony Bennett has a $200 Million net worth, yet it sounds like he has no long-term care insurance (LTCi).

“Susan Bennett is serving as her husband’s caregiver.” Why? The article describes Mr. Bennett as at the stage where he needs a lot of watching.

Even super-affluent people neglect formal planning for their LTCi. Even more surprising is when they get to the point where they need care, though they have virtually unlimited funds, these folks often still want to avoid spending their own money to pay for LTC!

I believe additional caregiver support would lower stress and enable Mrs. Bennet and her family experience a more qualitative relationship with her Mr. Bennett.

Hyper affluent people like the Bennetts are not too rich to own long-term care insurance (LTCi). Many hyper-affluent people do. LTCi makes sense for them financially. But many, like Peter Max, Brooke Astor, Penny Marshall, to name just a few, didn’t own LTC. They and their families suffered badly as a result. One might even conjecture they suffered worse, because there was more money for family to squabble over, and because such folks are accustomed to 5-star comfort, dignity, security, which is not how their last months and years turned out.

Tony Bennett Reveals He Has Alzheimer’s Disease

“He’s not the old Tony anymore,” his wife, Susan, said. “But when he sings, he’s the old Tony.”

Credit…Evan Agostini/Invision, via Associated Press

By Sarah Bahr

Published Feb. 1, 2021Updated Feb. 2, 2021, 12:32 a.m. ET

Tony Bennett, the 94-year-old singer who has become a beloved interpreter of the American songbook, has been diagnosed with Alzheimer’s disease, his wife, Susan, told AARP The Magazine this week.

“Life is a gift — even with Alzheimer’s,” the singer tweeted on Monday morning. “Thank you to Susan and my family for their support.”

Susan Bennett, and Tony Bennett’s eldest son, Danny, told the magazine that Bennett was diagnosed with Alzheimer’s — a degenerative brain disease that causes memory loss, among other things — in 2016.

According to the magazine, Bennett began showing symptoms in 2015. “Even his increasingly rare moments of clarity and awareness reveal the depths of his debility,” the article states. But it said that he had not experienced the disorientation that prompts some patients to wander off, or episodes of terror, rage or depression.

Continue reading the main story

Before the coronavirus pandemic, Bennett had continued to perform extensively. But backstage, relatives told the magazine, he could seem “mystified about his whereabouts.”

“But the moment he heard the announcer’s voice boom ‘Ladies and gentlemen — Tony Bennett!’ he would transform himself into performance mode, stride out into the spotlight, smiling and acknowledging the audience’s applause,” the piece said.

His wife, Susan, would watch nervously, worrying that he would forget a lyric. “I was a nervous frigging wreck,” she told the magazine. “Yet he always delivered!”

The early signs came in 2015, she told the magazine, when he began forgetting musicians’ names onstage, and began stashing a list on the piano, she said. But he knew something was wrong and wanted to see a doctor, she said, and he learned he had Alzheimer’s in 2016.

Susan Bennett said that he can still recognize family members, but the magazine reported that “mundane objects as familiar as a fork or a set of house keys can be utterly mysterious to him.”

Bennett, who has had a seven-decade-long career, scored his first big hit in 1951, “Because of You.” In 1962 he recorded “I Left My Heart in San Francisco,” which became his signature song. Long after other crooners had died or faded from the airwaves, Bennett experienced a resurgence in popularity: He won a Grammy for his 1994 album, “Tony Bennett: MTV Unplugged.” Since then, he has recorded duets with a string of notables including James Taylor, Sting and Amy Winehouse.

He recorded an album with Lady Gaga in 2014, “Tony Bennett & Lady Gaga: Cheek to Cheek,” which debuted at No. 1 on the Billboard’s Top 200 pop and rock chart. According to the AARP article, a follow-up album with Lady Gaga, which was recorded between 2018 and early 2020, will be released this spring.

Lady Gaga was aware of Bennett’s condition when they were recording their most recent collaboration, the article said. In documentary footage of the sessions, Bennett rarely speaks, and offers one-word responses like “Thanks” or “Yeah.”

But his appetite for all things musical remains robust. According to the magazine, he continues to rehearse a 90-minute set twice a week with his longtime pianist, Lee Musiker — and does so without any of the haltingness that can characterize his speech.

More than five million Americans are living with Alzheimer’s, according to the Alzheimer’s Association, including one in 10 people age 65 or older. Symptoms may initially include repeating questions, getting lost in a familiar place or misplacing things, and may eventually progress to hallucinations, angry outbursts, and the inability to recognize family and friends or communicate at all. Alzheimer’s has no cure.

Susan Bennett is serving as her husband’s caregiver.

“I have my moments and it gets very difficult,” she told the magazine. “It’s no fun arguing with someone who doesn’t understand you.” But she added that they felt more fortunate than many other people living with Alzheimer’s.

Continue reading the main story

Bennett’s last public performance was in March at the Count Basie Center for the Arts in Red Bank, N.J. Before the coronavirus shut down live performances, he was touring often, singing a 90-minute set without cluing in audiences or critics that anything was amiss.

“He’s not the old Tony anymore,” Susan Bennett told the magazine. “But when he sings, he’s the old Tony.”

Same Old Story

February 2, 2021 by Honey Leveen Leave a Comment

Just a few months ago Al was enjoying his wife, family and traveling. An acute health event occurred – an aneurism, I think. Now Al will need a tremendous amount of long-term care, for a long time. His family was unprepared for this.

While the circumstances are not that unusual, this particular story hit me hard. Al is my age, only about 68; he was my high school classmate.

This couple had successful careers and saved for retirement. They were constructive, active, engaged, intelligent, business-literate people. But they didn’t prepare properly for long-term care (LTC). If their situation is like most I encounter, an ethical and wise professional, like me, probably knocked on their door many years ago asking to introduce them to how LTC insurance works. They decided they didn’t need LTC insurance and were comfortable enough to self-insure for LTC. After all, they probably wouldn’t need it.

They are now stoically in reactive mode, cobbling together Al’s plan of care, under duress. I bet they do have the money to self-insure for Al’s LTC but they’re reluctant to use it, especially because Al’s need for care could last decades.

Al may need round the clock care. If they had LTC in place, it would pay enough to at least offer respite, possibly changing the wife’s caregiver role enough so that she had opportunity to enjoy her husband’s company.

The following is his wife’s post, the names have been changed:

“Al was transferred to *** **** Lab on 1/18 and it took several more days to wait for Covid results. By the time I finally saw Al, 6 weeks had gone by since I called 911. The family had daily FaceTime conferences with Al while he was in the ICU, but nothing could have prepared me for how lethargic he appeared. Al did remember me, but correct orientation was so limited. I went into a panic mode when a few days later, I was informed that Al’s discharge date to our home would be on 2/11 and that he would require 24 hour supervision for safety, home health and a nurses aide. My mind worked overtime trying to get answers and accommodate our home while planning to keep Al safe. It was much easier to spend whole days at Al’s bedside. Our time together was just as sweet and tender as could be.

THEN, during the second week of rehab, Al started to wake up! He had more periods of lucid wakefulness. His eyes were open and he could hold his head up. Many of his positive, adorable attributes started to emerge, including wanting to wear the “executive director” hat when working with a young speech pathologist. He has such a strong intellect! Al is learning to motor plan for getting from in/out of a chair/bed and using a walker 300 ft with 2 rest breaks and physical assistance. His appetite is getting better and he can feed himself, brush his teeth and use an electric razor, with supervision to stay on task.

I’m being truthful to all of you so that there are no misunderstandings or hopeful inflations of what Al can and cannot do at this time. Al is making progress every day and it may take a year or more. Currently, Al has a limited understanding of his struggles and concrete orientation to time and place continues to be a challenge. He is trying to fill in the blanks of his memory files and it is our responsibility to ensure that he files the correct information. I discovered that this is why watching tv is not helpful!

Discharge planning is underway and all home equipment will be ordered. ***, ***, ***** and I did a complete Do it yourself makeover of Al’s ground floor home office. This room is accessible and a place where we will be living for however long it takes. We are lucky that we planned this addition with a ramp and French doors. In addition, there is an attached efficiency kitchen and full bathroom.

I help the nurses and therapists with Al’s care. I am lucky that patient care and rehab are the foundation of my OT career. This part does not intimidate me at all. While Al is at home, we will set up a daily schedule with music, current events for time and place, self help, seated cooking, games with grandkids, etc. Home will be a good place for continued recovery.

Before we left on our trip, we were in the process of joining ALL of our accounts and passwords. We ran out of time and did not complete this task, which was a big and costly mistake. Now that Al is not able to manage those accounts, I’m am locked out and and I had to obtain legal representation. My advice to friends and family, handle your affairs. Wrap it up in a bow for your trusted partner, family member or friend.

Thank you for all of the continued notes of love and concern. Al’s group of Brother/friends and wives/partners are a lifeline. I plan to lean on them once they get their covid shots. For all others offering help, that time will come when I may ask you.

Bye for now,”

The Latest LTC Statistics – 2021 Update

January 18, 2021 by Honey Leveen Leave a Comment

Christine Benz updates her “Must-Know Statistics About Long-Term Care” report every year and the newest LTC information is now available. She is a Personal Finance Director at Morningstar and these annual reports are packed with invaluable long term care statistics. We’re so grateful to her for this!

No stranger to the value of long term care, Benz openly shares about her obsession (her words!). Both of her parents required it later in their lives. Even though her parents had the funds to pay for their LTC, “… it was still a terribly hard process for them, my siblings, and me.”

Ms. Benz’s statistics cover a broad spectrum. If you click on the link to the report, you’ll find that each statistic is linked to the underlying research.

Some Interesting Long Term Care Statistics

How long will we actually use our long term care coverage?

Women will need more LTC than men.
48% of us will likely need LTC for less than a year.
21% of us will likely need LTC for 2-5 years.
13% of will will need LTC for more than 5 years.

She shows us who and at what age people will need LTC, and how long they’ll need LTC coverage. Women will need more LTC than men. Although 48% of us will need LTC for less than a year, 21% of us will need LTC for 2 – 5 years and 13% of us will need LTC for more than five years.

The Dementia Factor

38% of Americans over the age of 85 have Alzheimer’s disease.
64% of those afflicted are women.
From 2000 – 2017, Alzheimer’s-related deaths rose by 145% (deaths from heart disease decreased by 9% over the same period).

The Costs of Long Term Care

LTC costs rose dramatically between 2000 and 2015. They’re now more than $208 billion/year.
51% of LTC costs were paid by Medicaid
The estimated lifetime cost of caring for a dementia patient is $350,174.
The median annual cost of living in a nursing home is $102,200 (depending on geographic location and facility amenities offered).

Statistics on the Unpaid Caregiver

34.2 million people provided unpaid care to someone 50 years or older during the past 12 months.
Over 75% of these unpaid caregivers are women.
The average age of these unpaid caregivers is 49.2, while 34% are 65 or older.
70% of caregivers experience work-related challenges due to their caregiving responsibilities.
If they are able to maintain their paying jobs, they report spending an additional 34.7 hours each week providing unpaid care.

Maintaining Your Independence

In light of the ever-increasing costs of long term care along with the increasing age of the U.S. population, the ability to afford effective medical care is more important than ever. Instead of relying on family or friends, consider the possibility of hiring trained professionals for your care. You can move into a safe, comfortable environment or receive regular visits in your own home.

Click here to receive a free, no-obligation quote for your own LTCi coverage. It’s a great time to learn what options are available to you in the future with just a little planning today.

The High Cost of Avoidance and Denial

January 20, 2020 by Honey Leveen Leave a Comment

Over the years, I’ve written multiple blogs posts about the importance of creating a solid long term care plan to address your late life wishes. Make the plan and share it with your family. And yet, time after time, I read horror stories about unnecessary suffering, neglect and even death because they never had “the conversation”. As if avoiding this important discussion gives them some artificial sense of control and safety. There is a cost of avoidance and it’s very high.

“I’d rather die than talk about this.”

The truth is that once chronic health problems arise, your ability to make good decisions often decreases. This is partly because your brain may have reduced cognitive powers. And also because making good choices becomes harder when you’re feeling panicked with fewer options. It’s really hard to see the big picture when it feels like your world is getting smaller.

Mr. & Mrs. Shaver Paid the Cost of Avoidance

As reported in the New York Times (Dec 2019), their love story is the thing movies are made of. A romantic courtship and a loving marriage of 60 years. Unfortunately, his wife starting showing signs of dementia. Even though his children encouraged hiring home care help, Mr. Shaver refused any discussion. “Mind your own business. I’m taking care of it.”

He had ample savings for their retirement, so we know the cost of hiring help was not the issue. As the sole caregiver to his wife, he was obviously aware of her declining state of mind. However, he was unwilling to make any move that would improve their environment.

It must have broken his heart to see the love of his life disappear from his life. She no longer recognized him or their daughters. One day, while she was asleep, her loving husband laid down in bed next to her and shot his wife. And then shot himself.

The Time to Plan is Now

I’ve been helping people create these plans for 30 years. One thing I’ve learned is that having such a plan in place provides a peace of mind and increases quality of living. Without the comfort of a strategy, the fear of aging only grows over the years. As you age, the concerns over injury (falling in the shower, tripping over furniture, dizziness from medications) can contribute to mounting fears.

Once the fear takes hold, it becomes harder to make clear and thoughtful decisions. I’ve done several blogs on age-related brain loss and cognitive decline.

For most of us, whether we’re middle class or more affluent, owning long term care insurance (LTCi) is critical for ensuring dignity, options, and access to quality long term care. But it’s not enough. You must have ongoing, difficult conversations with your family so everyone understands the outcome you desire.

Click here to receive a free, no-obligation quote for your own LTCi coverage. Your family will thank you.

Request a Free, No-Obligation LTCi Quote

LTCI is Magical at Time of Need!

Tony Bennett is Not in San Francisco

Tony Bennett Reveals He Has Alzheimer’s Disease

Same Old Story

The Latest LTC Statistics – 2021 Update

Some Interesting Long Term Care Statistics

Maintaining Your Independence

From My Blog

Podcast Illuminates LTC Need

LTCI is Magical at Time of Need!

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