Long Term Care Planning Course

SummaryLesson #8

Presented by:Colin Meeks, Certified Financial Planner®

Complete Money Management, Inc.

Lesson #1Does Your Financial Plan

Include Protection Against Long Term Nursing Care

Expenses?• Kiplinger Magazine Video - 22 minutes• Why you should plan for long term

nursing care expenses• Overview of the 8 part course -

insurance, taxes, Medicaid, claims, Partnership programs

• Long Term Care Planning Discovery Meeting

Lesson #2Do I Need To Plan For Long

Term Nursing Care Expenses?• Obvious answer here…….YES!

• A financial plan that does not address this issue is incomplete, PERIOD!

• Care costs $6000-$8000 per month - where will this money come from, how will it affect my spouse/family, what will this potential cost do to my financial plan?

• Plan early, plan wisely, know your options, and take action before your best options disappear.

• Colin Says…. “It’s better to put a plan together 10 years too early, than 1 day too late.”

• Schedule a long term care planning discovery meeting

Lesson #3The Fun Part

Long Term Care Insurance

• Is insurance suitable for you? Not everyone should have it.• If insurance is right for you, how do you make sense of all

your options?• There are 4 “core” benefits that most all companies offer,

then a bunch of different “bells and whistles” you can add to customize

• You should compare at least 4-6 of the top companies before deciding on a policy

• Base your decision on benefits, company strength, claims paying history, discounts available, and premium

• Schedule a long term care planning discovery meeting - get quotes and info from the top companies

Lesson #4The Maryland Partnership For

Long Term Care Planning

• What is a “Partnership Program”?• How can it help me plan?• There’s an example of how this

plan works in this lesson• Partnership Update• Schedule a Long Term Care

Planning Discovery Meeting

Lesson #5The Medicaid Skinny

(Maryland Medical Assistance)

• How do I qualify, How have the rules changed?• Is this a viable planning option• My Mom signed over all her assets to me and

then the Government payed for her care, I’ll just do this - I don’t need to plan

• If you have assets, don’t be fooled. You probably will not qualify

• Schedule a long term care planning discovery meeting to see if Medicaid will pay for my care

Lesson #6Long Term Care Planning

and Income Taxes

• 2 very exciting topics - Insurance and Taxes

• Tax Qualified LTC Insurance Policies• Tax deductions and credits for owning LTC

Insurance• Schedule a long term care planning

discovery meeting to review how your taxes are affected by long term care planning issues

Lesson #7Long Term Care Insurance

Claims

• Colin’s personal client experiences with claims

• The “Dumb Statement Of The Day” - Claims paying is THE most important factor in choosing a company

• How companies pay claims• Schedule a long term care planning

discovery meeting to get more details

Summary Of Course

• If you have assets and want to protect them, you need to plan

• Old ways of planning no longer work• If you have spent time planning your

investments and retirement but have neglected planning for long term care expenses, you have done your self a disservice

• Use a professional, don’t go it alone

Summary Of Course• “If it’s right it’s right, if it’s not it’s not” - I’ll tell

you, straight up with no BS if you should consider LTC Insurance

• There is NOTHING to gain by waiting - we are not getting any younger, insurance rates are not getting any lower, and we are in as good of health as we’re going to be

• Your options now are better than they will be next year, in 3 years, and in 5 years

• DON’T PUT IT OFF - schedule a long term care planning discovery meeting

Schedule Your Personal Long Term Care Discovery

Meeting Today!

• 45 minute “Discovery Meeting” - we’ll have a cup of coffee and chat

• What are my options• Do I need LTC Insurance• Will I qualify for Medicaid• How much does LTC Insurance cost?• Absolutely, 100% leave your checkbook at

home. There is nothing you can buy at this meeting

Schedule Your Personal Long Term Care Discovery

Meeting Today!

• Call my assistant, Debbie, at (410) 663-0700 to schedule your Discovery Meeting (or click below)

• She’ll mail you a confirmation, directions to my office, and a pre-meeting kit

• At the end of our meeting, you’ll be well informed of your options and have a bunch of excellent resources to help you plan

Thank You

• You are now informed• Make a decision to plan• Class dismissed…