Seven Most Common Reasons Why People Buy Long-Term Care Insurance

In the world of financial planning, understanding the key reasons people invest in Long-Term Care Insurance (LTCI) can lead to valuable referrals and repeat business. For Jim Better of Essential Plans of Insurance, identifying these needs is a powerful way to help individuals and families protect their financial security while ensuring they receive quality care later in life.

By recognizing the circumstances that drive people to consider LTCI, Power Partners such as estate planners, financial advisors, and caregivers can qualify prospects effectively and ensure they receive the right long-term care solutions. Here’s how you can connect the right people to Jim Better and support them in making an informed decision about long-term care coverage.

Terms, Phrases, or Conditions That Lead to Repeat Business for Jim Better
1. Adult Children of Aging Parents with Children of Their Own
Many middle-aged adults find themselves in the sandwich generation, caring for both their children and aging parents. As they witness the rising cost of long-term care, they realize how financially and emotionally draining it can be for families. These individuals want to plan ahead for their own care, ensuring they don’t place the same financial burden on their children in the future.

2. Families with a Child on the Spectrum
Parents who have a child with special needs must carefully plan their finances to ensure their child is provided for after they are gone. By purchasing Long-Term Care Insurance, they can preserve their assets and savings, allowing them to prioritize their child’s long-term well-being instead of depleting resources on their own care.

3. May-September Couples
Couples with a significant age gap—often called May-September relationships—face unique financial challenges. If the older spouse requires extended care, they may drain shared assets, leaving their younger partner financially vulnerable. LTCI ensures that long-term care costs won’t consume their savings, allowing both partners to maintain financial security.

4. Single Parents
Single parents often worry about becoming a burden to their children later in life. Without a spouse to rely on for care, they want to secure a plan that covers their long-term care expenses, ensuring their daughter or son can focus on their own families rather than providing hands-on care or struggling with financial strain.

5. Single Women
Many single women ask themselves a critical question: "Who will take care of me when I’m older?" Statistically, women live longer than men, increasing the likelihood of needing long-term care at some point in their lives. Without a spouse or partner to assist them, they recognize the importance of having a safety net in place. LTCI provides them with peace of mind, ensuring they receive quality care without financial hardship.

6. Families with Assets to Protect
Individuals and families who have worked hard to build wealth understand the importance of financial planning and leveraging assets wisely. Many choose to reposition a portion of their assets into Long-Term Care Insurance, multiplying their coverage amount to three or four times the original investment. This approach ensures that their hard-earned savings aren’t depleted by the high costs of extended care.

7. Executives of Companies with Retained Earnings Problems
Business executives and entrepreneurs often look for strategic ways to manage company profits while providing valuable benefits to their employees. Offering Long-Term Care Insurance as a company-paid benefit not only helps with retained earnings but also serves as a powerful retention tool, rewarding high-performing employees with a financial safety net for their future care needs.

How Power Partners Can Qualify Prospects for Jim Better
Power Partners—including estate planners, financial advisors, tax professionals, and caregivers—are in an excellent position to identify prospects who would benefit from Long-Term Care Insurance. By recognizing life circumstances, key conversations, and financial goals, Power Partners can help match clients with the right solutions, ensuring financial security and peace of mind.

1. Target Audience Indicators

• Adult Children with Aging Parents – Individuals aged 40-65 who have elderly parents are prime candidates, as they are actively planning both for their parents' care and their own financial future. These prospects often discuss the financial burden of caregiving, especially after family gatherings or holidays when the reality of aging parents becomes more evident.
• Clients with Savings to Protect – Jim focuses on people who don’t want their lifetime savings depleted by healthcare costs. Individuals with retirement accounts, inheritances, or significant financial assets are often concerned about protecting their wealth for family members or charitable giving.
  
  

2. Trigger Phrases and Conversations
Power Partners should listen for key phrases that signal a need for long-term care planning:

• “What’s the plan for mom if she needs help?”
• “We don’t want to be a burden to our children.”
• “We had to move mom to a nursing facility – the costs are outrageous.”
• “I want to ensure my spouse is financially secure if something happens to me.”
  
  

These conversations often arise organically during estate planning, financial consultations, or caregiving transitions.
3. Identifying Pain Points and Needs

• Families Managing Care Transitions – Clients who are transitioning from in-home care to assisted living or nursing facilities are ideal prospects. Caregivers, home health professionals, and assisted living facility managers can be great referral sources when families express concerns about long-term care costs.
• Executives or Business Owners – Individuals who own LLCs, S-Corps, or sole proprietorships may benefit from tax-deductible long-term care policies. Financial advisors and accountants can identify high-income earners who could use LTCI as part of their tax planning strategy.
  
  

4. Client Types Likely to Be Receptive
Jim works with a variety of clients, but some of the most receptive prospects include:

• Single women with grown children – They often don’t want to rely on their children for care.
• Older men with younger spouses – They want to ensure their assets are preserved for their spouse, not just used for long-term care.
• Wealthy individuals – Even affluent clients may want insurance to protect assets for inheritance or charitable giving.
  
  

5. Effective Referral Techniques

• Educating Prospects Early – Clients should consider LTCI before a health crisis to avoid higher premiums and disqualification due to medical conditions.
• Providing Specific Scenarios – Share stories of clients who benefited from LTCI. For example, a family who avoided financial ruin because they had insurance when a parent required long-term care.
• Highlighting Policy Flexibility – Jim offers a variety of policies (traditional, hybrid, or home care policies) to suit individual needs and budgets.
  
  

How to Refer Clients to Jim Better

Contact Details:

• Partner Name: Jim Better
• Expertise / Business Type: Long Term Care Insurance
• Company Name: Essential Plans of Insurance
• Contact Email: [email protected]
• Contact Phone: (603) 964-2020
• Power Partners Account Page: Jim Better's Account Page
• Explained Here Page: Long Term Care Insurance Explained
• Top Power Partners: Estate Attorneys, Financial Advisors, Fiduciaries, CPAs, In Home Care & Nursing Care Providers
  
  

Help Your Clients Secure Their Future
Referring individuals and businesses to Jim Better of Essential Plans of Insurance ensures they receive expert guidance on Long-Term Care Insurance tailored to their unique needs. Whether they’re looking to protect assets, ease the burden on loved ones, or create financial security for their future, Jim can help them make informed, strategic decisions.

If you’d like to discuss potential referrals or learn more about Long-Term Care Insurance solutions, don’t hesitate to reach out.