WHEN LESS IS MORE

The need for Long Term Care Insurance can be a pretty basic concept to understand, but the purchasing of an appropriate plan can sometimes be very complex. However, working with an experienced agent, that specializes in Long Term Care Insurance can greatly reduce those complexities.

Many times we see the agent get too caught up in the selling and explaining of the plan's optional riders to the client. This not only confuses the client, more importantly, it diverts attention from focusing on the core of the long term care insurance plan. Part of the difficulties in choosing a long term care plan is sifting through and understanding all the riders. Although riders can be valuable additions, it needs to be remembered that is what they are, additions. Riders are extras to the basic plan that cost money. Too often valuable premium dollars are allocated to expensive riders, when they could be better used on increasing the benefits of the basic plan.

This is what I mean in the title, “When Less is More”. The client would be better served if the agent makes sure the plan's benefit period and daily benefit amount are sufficient for the clients needs, usually in accordance with the local long term care cost.

In the Madison area long term care nursing home cost are running about $200.00 per day, and sometimes more. Too often we see agents present a plan with only a $100.00 per day benefit, but include various riders that might cost $300.00-$500.00 per year. We feel that in most cases that money can best be spent on raising the daily benefit amount to more closely match the local long term care cost.