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Policy Matters

FOURTH QUARTER 2017

NEWS YOU CAN USE FROM THE EXPERTS AT LLIS

From Waylon Jennings to long term care, it all ends with "someone they love."


It’s not just mamas. Papas also don’t want to be a burden on their loved ones.

And, yes, most children will say to their aging parents: "You're not a burden!" But the fact is, being a caregiver does place a burden on finances, jobs, relationships, and health and wellbeing.


Caring for can mean:

  • taking time away from spouse/partner and children
  • taking time away from a job, going part-time, passing on a promotion, or even giving up the job
  • compromising personal health
  • out-of-pocket spending

Caring about can mean:

  • helping loved ones plan for the need for care
  • helping with premium payments (paying less by planning instead of more by failing to plan)
  • ensuring your loved one can get care where and how they want (at home instead of a nursing home)
  • maintaining lifestyle, health, and finances and knowing that your loved one is being well cared for

Caregivers provide care for all sorts of people: a spouse or significant other, a friend, a neighbor, a child. And the statistics about that caregiving are staggering:

  • 43.5 million adults in the U.S. have provided unpaid care1
    • 70% suffered work-related difficulties due to caregiving
    • 4% retired early
    • 5% turned down promotion
    • 6% gave up working
  • In 2016, more than 15 million Americans provided an estimated 18.2 billion hours of unpaid care for those with Alzheimer's or other dementias, valued at more than $230 billion2
  • About one-quarter of dementia caregivers are sandwich generation caregivers, providing care for an aging parent and a child under 182
  • In 15 years, we’re going to have twice as many people over 65 as we have now. So the average worker is going to end up being a caregiver.3

"My wife will take care of me." If you're in a client meeting with a husband/wife and he says that, here are some reality check talking points:

  • Ask the wife the last time she picked up her 250-pound husband. Does she really want to be responsible for his care 24/7?
  • Ask the husband: "Do you really want her trying to lift you up if you need that?"
  • And ask them both: "Do you really want to spend your time together in a stressful, uncomfortable, and possibly unhealthy manner? Or would you prefer to enjoy each other's company while a professional does the heavy lifting?"

You may also want to share this with those clients:



The feeling of obligation (lack of choice) is especially pronounced among those caregivers who live with their care recipient and who provide more than 20 hours of care weekly (64% reported no choice).

Here are a few modern-day issues and solutions:

  • With more women waiting to have children until after launching a career, more of them are finding themselves going directly from caring for their children to caring for aging parents
  • When someone doesn’t qualify for traditional LTCi, all is not lost. There are options:
    • A hybrid Annuity/LTCi policy
      • They have less stringent underwriting requirements
      • And your clients can double to triple their LTCi benefits from day 1
    • An annuity
      • Purchasing an annuity early on will give it time to grow (tax deferred) until it’s time to withdraw or annuitize
  • The majority of caregivers are women, who have broken through into executive positions and have become successful business owners. Caring for a loved one may just threaten what they have accomplished.

Care about your loved ones, not for them. That's good advice for both women and men.



  • 1 National Alliance for Caregiving and AARP (2015)
  • 2 Alzheimer’s Association
  • 3 Cheryl Matheis, former AARP Senior Vice President

SOLUTIONS AVAILABLE THROUGH LLIS

Term Life Insurance | Low-Load Universal Life (Individual & Survivorship) | No Lapse Guaranteed Univeral Life (Individual & Survivorship) | Long Term Care Insurance | Disability Insurance | Critical Care Insurance | Low-Load Variable Annuity | Immediate and Fixed Annuities | Low-Load Variable Universal Life | Hybrid Life/LTCi | Hybrid Annuity/LTCi

(We recommend low-load permanent life insurance and annuities when possible)

(Not all policy types available in all states)

For a list of current providers, visit the Advisor Tools section of our website and click on "Insurance Companies We Work With".

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