Long term care also known as Living Care insurance is becoming an important part of those closing in on retirement. It’s normally about preservation of assets and or preserving one's dignity. Maintaining the quality of life of seniors is the issue and the expense factor can be devistating.
Qualifying for LTC is difficult and currently the percentage of advisors working in this field is very limited around 5% or less. I know, it's unbelievable but the agent work force works primarily in the life insurance area and living benefits seems to be more specilized thus the percentage involved in health, disability, critical illness and LTC is in the range of 25% or less. Odd since the majority of claims result from living benefts.
Those aging with long term disability insurance need to investigate their insurance as the LTD benefit is becoming more and more insignificant as we age whereas the long term needs beyond retirement are raising. The conversation of transitioning into LTC from LTD should start in the later 50's.