November is National Long-Term Care Awareness Month, and NAIFA kicked it off on October 28 with its Don't Be Scared of Long-Term Care Impact Day. Hosted by NAIFA's Limited and Extended Care Planning (LECP) Center, the virtual event brought together industry experts to share strategies, explore emerging solutions, and help insurance and financial professionals better prepare their clients for the challenges of long-term care.
Long-term care planning remains one of the most important, yet often overlooked, aspects of financial security. As Americans live longer and the cost of care continues to rise, families face difficult questions about how they will maintain their independence, protect their assets, and receive the care they need. November provides an opportunity to bring greater attention to these challenges and encourage more Americans to plan before a crisis occurs.
During NAIFA's Impact Day, industry leaders explored the many approaches available to help clients prepare for extended care needs. Tommy Jondall of EquiTrust and Brad Shepard of OneAmerica Financial discussed asset-based long-term care solutions and strategies for incorporating retirement assets into care planning.
Steve Cain of LTCI Partners addressed frequently asked questions about long-term care insurance, including misconceptions surrounding Medicare coverage, self-funding, and the growing variety of protection options available to consumers.
Beyond financial solutions, speakers emphasized the importance of meaningful client conversations. Holly Westervelt of Krause Agency encouraged financial professionals to focus on clients' needs and concerns before introducing products, while Donna Bowman of AGIS Network highlighted how proactive planning can help families preserve independence and avoid making difficult decisions during a crisis.
One message resonated throughout the event: the most important step in long-term care planning is starting the conversation.
For financial professionals, these discussions offer an opportunity to better understand clients' priorities, address potential gaps in retirement plans, and help families prepare for circumstances that could significantly affect their financial futures.
As we recognize Long-Term Care Awareness Month, I encourage NAIFA members and all insurance and financial professionals to take the initiative in discussing long-term care with their clients. Whether reviewing an existing financial plan, exploring protection options, or simply asking clients about their preferences for future care, these conversations can make a lasting difference.
NAIFA members: be sure to take advantage of Life Happens Long-Term Care Awareness Month content, including social media sample posts and images! This is a great NAIFA member benefit financial professionals can use to inform clients and prospects while promoting your industry and practice.
Through our LECP Center and educational programs, NAIFA remains committed to equipping financial professionals with the knowledge and resources they need to help protect American families. This November, let's turn awareness into action and help more individuals plan confidently for the future.
Watch NAIFA's October 28 Don't Be Scared of Long-Term Care Impact Day recording here.