A Financial Planner Helps His Clients and Then Himself
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Watch this episode's video below:
This week:
In this episode of The Insurance Experts, I interview Honey Leveen, the LTC Queen. Honey has been a long term care specialist for 30 years. She works with both consumers and other financial professionals to help them with LTC planning.
In this video, Honey shares a recent case that she worked on with a financial planner. This planner is a big believer in LTC planning, but this conversation led Honey to design his own plan!
There were several interesting facets to the case. The planner was looking for LTC insurance for both himself and his wife, but his wife had a health condition that required special product research. As a LTCi specialist, Honey was able to identify two different insurance companies that could provide the best value for their budget. Honey was able to provide both spouses significant LTC coverage.
They explored planning for a "spending shock" by self-funding the risk, but the insurance coverage could better provide more in benefits for a lower price.
As an added bonus, the financial planner was a self-employed owner of a small business and was eligible to deduct the LTCi premiums for himself and his wife as a business expense! Should they ever need to use the coverage, the benefits paid by their LTCi policy would still be received tax-free.
Now the financial planner has a personal story about his own LTC plan that he can share with clients in the future as he helps them with their plans.
Want to Learn More - Visit BuddyIns.com
BuddyIns is a community of client-centric long term care insurance specialists. We are dedicated to helping financial professionals and their clients across the country with customized LTC planning solutions.