How is the “senior” going to pay for LTCI?
Ans. They should get it before they are “seniors”. I think much of the reason my training business has been so successful is that I was selling people in their 40’s when I was a fulltime agent in Chattanooga in the late 80s and early 90s. I saw immediately that it is much easier to sell to pre-retirement ages due to health, finances and also because I could avoid the emotion of a 70 year old who is in tremendous denial that life may be drawing to a close. The premiums are extremely affordable at that age. A 40-year-old Couple, for example, can still get annual premium of about $1,700 for $140 day, 90 day waiting period, 3 year benefit period, 100% home care and 5% compound inflation for life. A 50 year old couple is $2,000 and a 60 year old couple $3200. Obviously these rates can be lowered by choosing perhaps a $120 daily benefit, which in your area would be fine as most of your clientele can easily afford to pay a third or so of the charges. Some people prefer the $120 DB and a five
