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Long Term Care Planning: Self-Insure or Transfer the Financial Risk?

LONG TERM CARE PLANNING: SELF-INSURE OR TRANSFER THE FINANCIAL RISK?

Cost Free
Presentation Length 1.0 hour

Recorded DateAugust 7, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaSpecialized Knowledge
Course LevelBasic
Course Description

It’s a difficult decision to make: Self-insure or transfer the financial risk of long term care (LTC) to an insurance company? The knee jerk reaction is to self-insure.  Why? Several possible reasons.  Many folks don’t trust insurance companies to ever pay a benefit based on past experiences such as with parents or grandparents. Many simply believe that it’s “too expensive” or the premium will become so high it will become unaffordable right when you need it. Or they have a general bias against any type of insurance and it’s easier to do nothing. This webinar will explain the different types of LTC insurance in the market today including the traditional policy and the “asset-based solutions” so you can make an educated and fully informed decision for yourself and help your clients.

As a trusted advisor, your clients, friends, and family are turning to you for guidance especially after they read about Covid-19 and Long-Term Care facilities. How can you help protect your clients?  Do your clients have a plan to deal with an acute or extended healthcare event? Join Susan Joy Bruno and her guest speaker, industry expert Steve Cain, to learn more about Long-Term Care (LTC) & Insurance planning strategies. We will cover why these conversations are sometimes tough and best practices for meaningful client dialogue. Hear real-life case studies on how CPAs chose can manage their clients’ Long-Term Care risk. 

Course Objectives:


  • Understanding healthcare risks associated with retirement planning

  • Insurance marketplace update

  • An overview of LTC Insurance: Traditional and Asset-based (Hybrid & Rider)

  • What does Behavioral Finance have to do with LTC planning (and Insurance)?

  • Tax Treatment of LTC Insurance

  • Case studies

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Beaconwealthconsultingsouth

Susan is a private wealth specialist creating customized solutions for high-net-worth individuals and families. Susan's extensive estate, insurance, and tax planning expertise is the basis for the comprehensive, multi-generational plans that she develops for her clientele and family offices.

Susan’s expertise in the life and long-term care insurance area comes from her work as a Senior Manager at Price Waterhouse and the many years that followed working with the industry’s brightest minds as an independent broker and consultant. Susan is the driving force behind the AICPA’s risk management track at Engage, the annual Advanced Personal Financial Planning conference, and currently chairs the conference subcommittee.

Susan is also actively involved in women's empowerment to help women take charge of their finances, especially before any of the 6Ds occur: Death, Divorce, Disability, Disaster, Dementia, and Debt. Be Prepared Not Scared® is her motto. She runs an annual women’s panel at Engage to help women share experiences, fears, and best practices to increase gender equality in the industry.

Susan carries numerous professional certifications and designations and is recognized among her peers for her leadership, advocacy, and philanthropy, and is a frequent speaker at industry events. Much of Susan's expertise was acquired while she was a senior tax manager at PriceWaterhouse, LLC (1987- 1992), and as a senior tax consultant with Deloitte, Haskins & Sells (1984-1987). She founded her firm in 1992.

Susan graduated magna cum laude from Fairfield University in 1984 with a BS in Accounting and lives with her husband in Naples, Florida. She enjoys photography, painting, and traveling. She is a proud member of the Daughters of the American Revolution. She is most proud of launching her two adult children!

Susan has earned the right to use the Certified Public Accountant (CPA), Personal Financial Specialist (CFS), and Certified Financial Planner (CFP) designation.

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Steve Cain, CLTC

LTCI Partners
Director | Sales & Business Development Leader
steve.cain@ltcipartners.com
(818) 645-9894

Ltci logo 1

Steve Cain is Director and National Sales & Business Development Leader for LTCI Partners, an NFP company, one of the nation’s largest long-term care insurance (LTCI) retail and wholesale brokerage enterprises. He is responsible for increasing the firm’s revenue through the development of existing client relationships and the acquisition of new institutional and group accounts. 

A self-proclaimed “lifer” in the insurance & financial services space, Steve is laser-focused on revenue growth. He has over 19 years of success in the insurance and financial services industry, working closely with independent broker-dealers, warehouses, and employee benefits consultants. Before joining LTCI Partners in 2009, Steve was the National Sales Leader for Long-Term Care at Marsh & McLennan Companies (NYSE: MMC). Following a brief, exciting stint in professional baseball after graduating from the University of California at Santa Barbara, pitching in the farm systems of three professional teams, Steve started his career at LifeCare Assurance Company, a third-party administrator (TPA) that specializes in LTCI. While at LifeCare, he was on a team that introduced several LTC insurance products (Allstate, Allianz Life, Fortis, Guardian, MassMutual, etc.) products into the marketplace.

Still a recognized thought leader in the industry and passionate about growing the awareness of this planning today, Steve serves on the Board of Advisors for CLTC, is the Leader and Chairman of the National Association of Health Underwriters (NAHU) LTC Insurance Working Group and regularly pens articles featured in industry trades. He’s frequently quoted in publications like Forbes, The Wall Street Journal, USA Today, Yahoo! Finance, and more. 

Steve is a certified continuing education instructor for insurance and accounting professionals and he regularly addresses industry groups on the subjects of Standalone LTCI, Linked-Benefits LTCI, and Group LTCI solutions.

Steve is married with two young daughters that “own him” and resides in Los Angeles, CA.

About Our Presenter

Beaconwealthconsultingsouth

Beacon Wealth Consulting South (BWC) is a boutique firm located in Naples, Florida which specializes in creating tailored financial plans for high net worth families. Susan's expertise in estate, insurance, and tax planning is the basis for the comprehensive, multigenerational plans that she develops for her clients.

BWC is also an independent insurance brokerage firm that often partners with other planners who do not have insurance expertise. BWC customizes life insurance plans for the high net worth clients in the context of the family’s overall financial plan, often integrated with sophisticated estate and retirement planning strategies.

BWC prides itself on successful collaboration with the clients’ team of advisors and/or family office. Susan Joy Bruno, the firm’s founder, and is a nationally recognized CPA/PFS for her work in life insurance planning.

Susan recently launched “The Beacon Method” which is a consulting service to help CPAs launch a financial planning practice or simply help financial planners take their practices from good to great. Some of the topics she will cover include:

  • How to leverage junior staff members to help them grow while also making your clients happier
  • How and why to add women to your practice
  • How to use the 6Ds fire drill to motivate your clients
  • How to add more graphics for your visual learners
  • How to add life insurance consulting or brokerage to your practice without compromising your objectivity or integrity