Long Term Care Insurance: An Overview August 2016LTCiOv-S

Why? We’re living longer! LTC is not covered by health insurance, Medicare or Medicare Supplement Insurance. LTC is not covered by health insurance, Medicare or Medicare Supplement Insurance. Family dynamics Cost of Care Who really saves money for long-term care?

Cost of Long Term Care

What is Long Term Care? Your doctor expects that you will need assistance with at least 2 of the 6 Activities of Daily Living (ADLs) for at least 90 days: ♦ Bathing ♦ Dressing ♦ Eating ♦ Transferring ♦ Toileting ♦ Continence that you will need substantial supervision due to severe cognitive impairment or…

LTCi plans today pay for … Facility Care (any licensed facility) Home Care (licensed or certified) Nurse and Therapist Services Adult Day Care Respite Care Hospice Care Care Coordinator Equipment, Home Mods, etc. Caregiver Training Bed Reservation International Coverage (limited)

Long Term Care Insurance Products Traditional  Most common  Greatest benefits for the least cost, esp. for couples  Individual or Shared  Inflation protection  Continuous premiums  No Cash Value  Premiums likely to increase over time Hybrid  Single premium Universal Life  6+ years of LTC benefits  Tax-free death benefit  Individual  Cash Value  Return of Premium rider  With or without inflation protection Life with Rider  Lifetime or custom premiums  2-3 years of LTC benefits  Tax-free death benefit  Individual only  Cash value  No inflation protection

Long Term Care Insurance Products The Newest Hybrid  Individual or Shared  Lifetime LTC Benefits  Continuous Annual Premiums or Limited Pay  Tax-Free Death Benefit  Cash Value Policy  Guaranteed Level Premiums  With or without inflation protection

Only 4 Ways to Pay for Long Term Care 1. Self-Pay Which assets will you liquidate first to pay for care? 2. Family Members Which family members? What are your expectations of your family members? 3. Government Assistance Are you eligible for limited, needs-based programs like Medicaid and Veterans Aid & Attendance? 4. Private Insurance? Are the premiums affordable today and in the future?

A good candidate for LTC Insurance… 1)Reasonably Healthy 2)Can Afford the Premiums 3)Recognizes the Risk

Thank You!

Eric is an independent life insurance agent specializing in long-term care funding solutions including hybrid Life and LTC Insurance policies and represents the top carriers in the industry and across the country. In addition to Long Term Care, Eric works with individuals and business owners to find the best solutions for Life and Disability Income Insurance. Before entering the life insurance business in 2003, Eric worked over 20 years in international banking, finance and capital markets. He has an M.A. in International Management from the Monterey Institute of International Studies in Monterey, CA and a B.A. in Psychology from the State University of New York at Buffalo. Eric's community service endeavors include serving as President of the Georgia Chapter of the American Parkinson Disease Association ( and as a regular volunteer at the Atlanta Community Food Bank ( Eric lived many years in Venezuela and is fully fluent in Spanish. Eric lives in Alpharetta, Georgia with his wife Rosa. Their two sons graduated from Georgia College & State University in 2010 and Eric Burkard, CLTC Burkard Insurance, LLC 720 Marianna Lane Alpharetta, GA (Office) (Mobile) (Fax) May 2016