Preparing For Tomorrow podcast

Apr 24 2024 18

Preparing For Tomorrow podcast artwork

Diane Stoddart, Certified Long Term Care Consultant, will show you how to protect your family and loved ones from the financial, physical and emotional burdens and consequences when long term care is needed. In each episode, Diane will help you to navigate through long term care concepts, terms and options and to discuss what strategies are available that can best protect both your family and your nest egg. We will invite guests to sit with us and share ideas regarding various parts of our lives as they relate to long term care planning.

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Home Care Costs Increased over 14% March 2023 to March 2024!!!

Apr 24 2024 11 mins

If we want to make sure we can stay home when long term care is needed, we need a plan. We need to afford the care we want. If costs of care continue to increase every year like they have been, this is not something most of us will self-fund without bankrupting ourselves or destroying family relationships. The first thing we need to do is admit that we'll probably need help living

How can I be sure the insurance company will keep their promise to pay?

Apr 17 2024 13 mins

In other words, why shoud I trust the insurance company? All insurance companies, and especially LTC companies are heavily regulated and watched closely by all 50 states. States monitor complaints to ensure compliance. Regulators work with the consumer and company to assist with payments. Often, regulators explain to consumers why a claim isn't being paid and advise the consumer wh

Where is the urgency?

Apr 10 2024 13 mins

We live in an "I want it now" culture except when it comes to planning for extended care needs. Why do we feel the need to wait as long as we can to consider and design our LTC plans? Once someone learns that there is a need for LTC insurance in some form, it takes 5-7 years on average for that person to contact someone who can help them purchase coverage. I get that we don't want

How can I be sure I can live at home no matter what happens to me?

Apr 03 2024 13 mins

This week, Diana wants to know what she needs to do to be sure she can live out the rest of her life in her owm home. I know we're all asking this question, because we want to stay home no matter what as well. That really depends on how much support and assistance we can rely on from our family. Do they live nearby? If they say they will help us, are they actually able to do so? If

Is the LTC plan my company is offering the same as one I can buy on my own?

Mar 27 2024 13 mins

Employers are seeing their employees reducing hours or leaving work to care for parents, spouses and other family members. They're searching for strategies to help keep employees at work.. Group LTC plans are again becoming popular, and they look different than they did in yesteryear. Listen and learn what is available as an LTC worksite solution. If you own a business or you are a

Questions we can't answer today need to be addressed anyway

Mar 20 2024 11 mins

In last week's episode, Diane shared a boatlod of questions we need ot be asking when planning for extended care needs (LTC needs). This week we cover the questions that can't be answered until that need invades our family. Although, we may not know what, when, where, or how long , we still need to plan early so we can be prepared for whatever happens. How can we do this? Listen, l

The LTC plan everyone needs - with or without insurance

Mar 13 2024 16 mins

Long term care planning is about more than the insurance or funding for care. This week, Diane shares important questions we and our families need to be asking today. Regardless of where you will live, who do you want helping you? Do they know this? Are they able to do what you need? What do you want to have happen when extended care is needed? Where do you want to live? It's much

Rate increases are the elephant in the room

Mar 06 2024 11 mins

This week, Mark asked if he can expect his traditional LTC premium to double every 12 years. Many older traditional LTC policies were priced inaccurately and are now receiving increases to match today's expected risk. Listen and learn what has changed since these policies were offered. Learn how the regulators and the insurers are working to keep rates more stable. Learn what you c

Baseball and Long Term Care - What league are you in?

Feb 28 2024 14 mins

It's February and spring training season in Florida. Listen to Diane compare different types of planning strategies to the A, AA, AAA minor leagues and to Major league Baseball. Different levels of plans can be designed to meet each family's unique needs and budget. Just like in baseball, we need to Prepare today to be ready for a strong season, carry the playoffs and make it to th

What happens at claim time?

Feb 22 2024 13 mins

I have four clients opening LTC claims this week. Three are for memory care, and one is for hospice care for teminal cancer. All are women in their early 70s. I wish no one ever needed to use the LTC plans we've developed, but I am so glad that I have answers and can assist when their family memebers ask for help and guidance. All of these women were in great health when they bough