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AICPA & CIMA ENGAGE 2021


PFP2113 - PFP2113. How the Mass Affluent and HNW can benefit from Long Term Care Planning. Importance, Impetus, Incentives


Jul 26, 2021 3:00pm ‐ Jul 26, 2021 4:15pm

Standard: $49.00

Description

The reality of the of long term care planning for today’s mass affluent client has changed for the positive. Longevity, lifestyle and legacy are why the subject must be considered.

The financial and non-financial consequences that providing care brings will result in difficult decisions and compromise family dynamics. This is especially true for the sandwich generation, blended families, divorce, and growing solo aging population.

The desire for control about how, where and who provides care is front and center in a Covid world.

An increase in chronic conditions for aging such as Alzheimer’s, Parkinson’s, and Covid long-haulers demands proactive LTC planning. Reduced government programs and increased costs for retirement lifestyle make LTC planning valuable, if not critical.

We will compare the new planning solutions in the marketplace. Hybrid polices, Joint and Second to Die LTC solutions and Life and Annuities with Riders. A discussion of the differences in LTC riders, and a focus on the sweet spots for planning given health and family history will highlight opportunistic planning windows.

An analysis of “self- insuring “will solve for the true cost of self-funding for the mass affluent and HNW clients. Financing, gifting options, ILITs, tax incentives and 1035 exchanges in LTC planning are unique and opportunistic planning tools that will be addressed.

Lastly, why the broker you ultimately work with matters - for successful client outcomes and at policy execution.

Learning Objectives:
  • Identify how the mass affluent can benefit from today's long term care planning solutions and why the LTC discussion deserves consideration in a comprehensive financial plan.
  • Evaluate the myriad of planning solutions in today's marketplace. Why a comprehensive analysis of ALL solutions matters in maximizing successful outcomes.

Speaker(s):

  • Rona Loshak, MBA, CLTC, Founding Partner, Karp Loshak LTC Insurance Solutions
  • Natalie Karp, MBA, CLTC, Founding Partner, Karp Loshak LTC Insurance Solutions

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