Moving Hearts

Love & Insurance

It’s already mid-February, almost Valentine’s Day and what am I thinking about?  INSURANCE!

I realize that sounds a little crazy (or a lot!) but there is a connection. First, I’m simply excited because I am officially a fully licensed agent appointed with Bankers Life & Colonial Penn Insurance and I am finally beginning field training to learn to write policies.  HOORAY!!!

But, better than that, Bankers Life specializes in protecting and insuring seniors – Baby Boomers – the exact market I’m already focusing on with Opulent Resale & Cindra’s Studio. That is something I’m thrilled about.

And while their basic products are Life Insurance, Long and Short Term Care Insurance, Medicare Supplements, and Annuities, my personal favorite at the moment is Short Term Care.  I’ve had a Long Term Care policy for years and never really understood the 90-day elimination period. But now I do!  Before my policy kicks in, I have to pay out of pocket for 3 months of care! If you figure $157 per day, that’s more than $14,000 out of my pocket!  So believe me, when I learned about Short Term Care policies that are designed to cover those 90 days I was blown away.

Furthermore, I was just reading in the PBS’s Next Avenue about a survey they did on the misconceptions of Long Term Care.  One of the things it said is: “the National Bureau of Economic Research estimates that a 50-year-old has a 53 to 59 percent chance of entering a nursing home during his or her lifetime.” People don’t like to think about that.

Nor do they like to think about the fact that: “Custodial care (non-medical assistance, typically for activities of daily living such as bathing, eating and dressing), which is the most common form of long-term care provided by nursing homes, is not covered by Medicare.” Short and Long Term Care covers that – in-home or in a facility!

Couple that with what Wikipedia has to say about Baby Boomer characteristics: “As of 1998, it was reported that, as a generation, boomers had tended to avoid discussions and planning for their demise and avoided much long-term planning.” This spells a recipe for disaster if you ask me!

So to me, maintaining my Long Term Care policy all these years, and getting ready to write myself a Short Term Care policy to complement it, that’s something I did because I care about myself enough to want to ensure that I can be at home if I’m convalescing, AND because I care about my loved ones enough to not want to be a burden on them if I can’t take care of myself.  It’s all about Love, baby!

So yeah, Love and Insurance go together.  And a very Happy Valentine’s Day to you!

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