Expert Guidance on Long-Term Care Insurance with Marc Glickman from Buddy Insurance

As we travel this journey called life, getting older is just part of the ride. But, let's face it, a lot of us are pretty good at putting off planning for the future - especially when it comes to stuff like long term care. Here's the thing though, not thinking about it can land us, and our loved ones, in a bit of a pickle. Imagine suddenly needing a lot of care, or finding out a family member does, only to discover there's no plan in place. The costs, from the wallet to the heart, can really stack up.

 

Marc Glickman is a speaker, author, influencer on LTC insurance, and the CEO and Co-founder of BuddyIns. BuddyIns offer flexibility and portability of long-term care insurance policies and options for finding vetted long-term care insurance agents through Buddy Insurance's website and referral network. In this episode, Marc and Annalee address the importance of early long-term care planning, the financial and emotional challenges of caregiving, and the need for clear family communication regarding insurance policies.

 

Quotes:

• "It takes a village to take care of a loved one. Having a financial and emotional process in place is crucial." – Marc Glickman
• "Half of the battle is getting your plan in place. It's not just about buying an insurance product, it's about having a comprehensive strategy." – Marc Glickman
• "Educating families about long-term care policies is essential to prevent the financial burden of caregiving." – Annalee Kruger

 

Takeaways:

• Start planning for long-term care as early as possible to secure better coverage and lower costs.
• Involve family members in discussions about long-term care plans and insurance policies to ensure everyone is informed and prepared.
• Understand the triggers and benefits of your long-term care insurance policy to avoid common pitfalls such as lapses and denied claims.
• Utilize the expertise of long-term care specialists and financial planners to navigate the complexities of long-term care insurance.
• Leverage the flexibility of long-term care insurance policies to supplement caregiving support and reduce the burden on family members.

Conclusion:

Planning for long-term care is a wonderful way to make sure our aging loved ones are taken care of. It's also a great help in easing the financial and emotional load on families. By getting to know the details of long-term care insurance policies and involving the whole family in the planning process, we can tackle the challenges of caregiving together, in a much more effective way.

 

Resources:

Annalee’s LinkedIn

Episode Website

Learn more about The Elder Planning Specialist designation and certification program at Plan For Life Now

 

Guest Links:

Marc's LinkedIn

Marc's Website