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

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“Brains and Losses” – Financial Scams on Seniors

May 28, 2019 by Honey Leveen Leave a Comment

financial scamsNPR’s Marketplace has done a thoughtful, engaging investigative series on age-associated financial vulnerability, called “Brains and Losses”. You can click here to listen to the 5-part audio series (Don’t worry — each episode is only about 5 minutes long!). It’s an interesting look at new research involving why we are more prone to financial scams as we age.

Even back in 2015, a well-respected and often-cited study found that Americans lose over $36 billion each year to “elder financial abuse”. The study breaks down those losses in 3 major areas:

  • $17 billion from exploitation – Seniors are led to making poor decisions based on confusing language or high sales pressure.
  • $12.8 billion from fraud – Seniors fall prey to identity theft or cons to send strangers money.
  • $6.7 billion from abuse of trust – Seniors who rely on the guidance of close friends, family or other advisors are deceived by the relationship and bilked out of their money.

It seems obvious that as age-related cognitive abilities decline, seniors become an easier target. In fact, I’ve written about this before. One of the early signs of oncoming cognitive impairment is falling for financial scams.

I’ve Seen This Too Often

I’ve observed the warning signs with my own clients and prospective clients. They ask the same questions again and again. They don’t seem to be absorbing the answers I give to their questions. Sometimes they drop their long-term care insurance (LTCi) policies. In a panic, they – or their kids – later call me, wanting to reinstate the policy. This is not a change of heart, but recognizing that a poor decision was made. And it is heartbreaking to me.

As I began listening to the 5-part audio series, I anticipated I’d be hearing more of these kind of stories. Boy, was I wrong. The series examines and explains so much more!

It turns out that you don’t have to be cognitively impaired to fall victim to these scams. There are a host of other factors that also sets someone up for these traps. Financial vulnerability may also be associated with loneliness, isolation, and impaired physical health.

Have the Conversation

I’ve shared the importance of having the difficult conversations with parents about care in their later years. Talking about financial management is a big part of this.

Here are 4 suggested questions that can get the ball rolling:

  1. As you get older, what are your spending priorities?
  2. Do you know what a scam is? What would you do when a stranger calls you, asking for money?
  3. Who do you trust to help you with your finances? How often do you want to talk to them?
  4. If you start to start to get a little shaky around these decisions, what do you want us to do for you?

The bottom line: be proactive. Protect yourself, protect your family, by having explicit conversations, now!

A great way to protect the future financial and medical options for you or someone you love is through long-term care insurance (LTCi). To receive your own free, customized no-obligation quote, click here. Let’s start this conversation!

 

Filed Under: Age related brain loss, Age related cognitive impairment, Denial, Elder fraud exploitation scams, Helpful Information About LTC, I'll Just Self-Insure, Information About LTC

Why You Want to Work With An LTCi Specialist Like Me

April 15, 2019 by Honey Leveen Leave a Comment

LTCi specialistMarc Glickman is a highly respected long-term care insurance (LTCi) actuary. Marc is also a good friend who keeps me updated on the numbers side of our business. He recently conducted an informal survey of active producers in the industry, with some very interesting results about working with a LTCi Specialist like me.

Insurance Generalists, unlike me, only turn about five percent of their quotes for LTCi coverage into applications. The rate for LTCi Specialists like me is about 25%. This tells me Generalists may not know how to describe and prescribe LTCi well.

And only 60% of Generalist-submitted applications actually become issued policies. LTCi specialists (like me!) get about 80% of client applications approved. My own success rate is higher than 80%.

Not surprisingly, specialists have the training to understand and respond to client needs in this niche market. They (We) have years of practice and experience in successfully submitting applications for our clients.

You Can Rely on Your LTCi Specialist

Marc reports that LTCi specialists can be at least five times more effective at getting clients coverage.

We LTCi specialists also have more products to choose from. We have the experience to design the ideal, customized solution. This creates highly informed, confident, and satisfied clients.

When you’re ready to review your own options, click here to request a free, no-obligation quote for long-term care insurance.

Filed Under: Helpful Information About LTC, I'll Just Self-Insure, Information About LTC, Testimonials

The Best Surprise is What CCRC’s Don’t Pitch In Sales Presentations

April 3, 2019 by Honey Leveen 6 Comments

Social capitalJim and I have now lived in Shell Point Retirement Community (SPRC) a little over a month. Shell Point is a CCRC (Continuing Care Retirement Community).

I am still working, so please do not hesitate to call me for any help you may need or with questions you may have!

This first month flew by in a dizzying flash, as you can imagine. Our new home still needs work, but happily, we’re on the tail end of settling in and I can resume blogging.

This was an exceptionally well-thought-out move. I have researched and understood the complete long-term care continuum for the past thirty years. Not only has it been my job — it’s been my passion.

The warm welcome and continued staff support we receive has been extraordinary. So much so, in fact, that it deserves a separate blog post, so stay tuned.

It feels absolutely liberating to have downsized! I highly recommend it. Now we own our stuff, our stuff doesn’t own us.

But this post isn’t about the exceptional “resident first” employee culture they have here, or the huge merits of downsizing.

The inspiration for this piece, what they don’t fully describe during sales presentations, is the unexpected impact of increased Social Capital.

The Value of Social Capital

I anticipated that our sense of well-being and overall happiness would increase when we got here, but I never could have imagined by how much. Now I know a lot of the reason why: it’s the increased Social Capital that is at the core of this particular CCRC.

My discovery of Social Capital led to Robert D. Putnam’s acclaimed book “Bowling Alone“. Mr. Putnam’s research documents how the decline of social capital since 1950 has led to more divorce, anxiety, suicide, cynicism, resignation, “compartmentalized” belief systems and lives, distrust, and depression.

In his blog, noted therapist Joe Whitcomb describes the decline of social capital this way: “Today, society and people are more isolated, alienated and disconnected than ever before in all of history… We are more globally connected by technology but even more alone.”

While living in Houston, I knew hundreds, if not thousands of people. It was a lot of fun to walk into Rotary, be recognized and feel loved. But this alone is not all that’s needed for feeling increased security and belonging.

We had a beautiful home for eighteen years, yet we rarely interacted with our neighbors. I always found this troubling. They had their own obligation-laden, busy lives and concerns, and so did we. We usually just smiled and waved as we drove past in our “hermetically sealed” cars. We didn’t know much about each other’s lives even though we lived a few feet apart.

Howdy, Neighbor!

In my new community, people walk by all day long. We often stop and chat, or at least smile and greet every passerby. The post office, salon, fitness center, medical center, and restaurants are all within an easy 3-5 minute walk. Walking gets us out where we see, greet and socialize with others, truly connecting with our neighbors.

It is not necessary to share belief systems or have much in common with neighbors to achieve increased Social Capital, a sense of connection, the feeling that you matter. Even the shortest of social exchanges gives me a happiness “ping” that feels like an endorphin release.

24/7 healthcare, enriching activities, and an engaging lifestyle are available here. But maybe the largest “plus” (and our greatest surprise) is the increased Social Capital.  This affirms that our shared human need is to create peaceful, joyful homes and community. This is easily achieved by developing this all-important social capital.

Are you wondering if you can afford this upgrade to your own quality of living? Click here to receive your own complimentary, no-obligation quote for long-term care insurance coverage.

 

 

 

Filed Under: Correcting Ignorant Public Figures, Denial, Elephant in the Room, Information About LTC, The Magic of owning long-term care insurance Tagged With: CCRC's, Shell Point Retirement Community, Social Capital

What’s a CCRC?

January 2, 2019 by Honey Leveen 2 Comments

They’ve been around for over a century, starting first in Europe, mostly connected to religious organizations. The U.S. had about 7 CCRCs by the 1900s and they have continued to expand since then as both non-profit and for-profit operations. These days, the country has thousands of these facilities as their popularity continues to grow.

So what, exactly, is a CCRC? It’s a Continuing Care Retirement Community.

Here’s an academic definition I got from a recent insurance course I took:

CCRC’s (Continuing Care Retirement Communities) provide housing for senior citizens, an entire continuum of long-term care services, from part-time services performed by nonskilled staff to skilled nursing facility services.

Individuals start out in independent housing and naturally transition through assisted living to skilled nursing care, all while staying in the same community.

Yawn. This definition is so bland!

The “Retirement Home” for Today

Senior Couple Walking Along Coastal Path

For starters, I think the word “Retirement” in the title CCRC is now obsolete. Many people, including myself, will continue to work while living in one.

CCRCs are a place where people can enjoy a carefree, safe, luxurious, fun, stimulating, enriching – no matter what your interests are – lifestyle. Ours offers a strong sense of community. The CCRC is legally obligated to provide care for you through the end of life. And until that time, you’re living your best life possible! You also aging with grace, honesty and dignity.

The core offering of a CCRC is the ability for its residents to “age in place”. They provide an environment that promotes healthy, independent living which typically contributes to a happier and richer quality of life.

As medical needs increase, the appropriate level of care is available without creating radical, unsettling changes. Residents continue to be part of the community, maintaining friendships in familiar surroundings. This “all in one” solution provides great peace of mind to the seniors and also to their family members.

Jim and I are moving to a place called Shell Point Retirement Community (Fort Myers, FL) in February, 2018. That’s really soon! We contemplated this move for a while. Eventually, our attitudes towards CCRC’s shifted. We realized moving now, while we are still healthy, active and vital, was not only wise, but feasible.

Moving to Shell Point does not mean I’m retiring! I will continue to work, because I love my job. I can offer 30 years of wisdom and insight into long-term care protection, plus strong, client-centered ethics. My phone and email will will not change; I’ll continue to support you. When I’m not working, Jim and I will experience a truly fun lifestyle!

 

Filed Under: Denial, Helpful Information About LTC, Information About LTC Tagged With: CCRC's, Florida, Ft. Myers, long-term care, Long-Term Care Planning, Shell Point Retirement Community

The Special Case for Women and Alzheimer’s

December 19, 2018 by Honey Leveen Leave a Comment

Elderly Woman with AlzheimersAs I reported in October 2015, Alzheimer’s disease has a disproportionate impact on women. As we close out 2018, the statistics have not improved for us. In fact, two-thirds of America’s 6 million Alzheimer’s patients are women. It’s time for us to pay special attention to women and Alzheimer’s disease.

First, some quick facts from the Alzheimer’s Association and the Women and Alzheimers site:

  • Every 65 seconds, someone in the US develops Alzheimer’s
  • At age 65, a woman has a 1 in 6 chance of developing Alzheimer’s disease. Her risk for breast cancer is 1 in 11.
  • Also by age 65, a woman is twice as likely to develop Alzheimer’s than a man. By age 75, she is three times as likely.
  • More than 60% of unpaid Alzheimer’s caregivers (friends and family of Alzheimer patients) are women.

More Likely In Women

It seems like Alzheimer’s disease can affect any family at any time. So why is it more prevalent among women? Is it because women live longer than men? After all, the disease is more prevalent as we age. But we now know that the early symptoms of Alzheimer’s often begin 20 years before they are ever diagnosed.

Genetic risk factors are now getting more attention and focus. Back in the 1990s, scientists found that the presence of the ApoE4 gene was the primary culprit in the patient’s memory and other mental abilities. Further tests showed that this is more applicable to females. 

Heart disease and smoking are also considered contributors to the onset of Alzheimer’s disease. So is depression, which is more common in women than in men. And there is always the deepening discussion around hormonal changes that are so much more intense for women as they age.

Because women usually take on the responsibility of caregiving, there is some research that points to this extra emotional burden as a possible risk factor. 

Alzheimer’s patients and their families have a great amount of uncertainty and difficult decisions in their future. If you or someone you love is a woman, extra care should be taken to prepare for this disease.

Don’t get caught by surprise when the statistics are this powerful. You can begin by clicking here to receive your free, no-obligation quote for a long term care insurance policy.

Filed Under: Helpful Information About LTC, I'll Just Self-Insure, Information About LTC Tagged With: Alzheimer's Association, Alzheimer's Disease International, Alzheimer's Society, Alzheimers Disease, Long Term Care insurance, long-term care insurannce, Long-Term Care Planning, LTCi facts

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Contact Me

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

Email: honey@honeyleveen.com

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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
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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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