1. Long Term Care is not for everyone, and it may not be for you. If you do not have enough assets to protect, you do not need LTC insurance.
a
Do you have over $70,000 of assets, excluding your home?
b
Some people consider self-insuring. Could you afford $40,000 plus per year taken out of your savings without a change in lifestyle? (The
  average cost in the Northeast can range from $55,000 to $100,000 per year. This includes only room and board.)
c
Do you realize that the insurance premium is usually less than the cost of two weeks of institutionalized care?
 
2. Health history is very important in determining the need for insurance. Chronic conditions may be related to your family’s history.
a
 Have you been hospitalized within the last five years?
If yes, why?
b
Are you on any medication?
If yes, for what?
c
 Does your family have a history of any chronic illness?
If yes, what is it?
d
 Do you have any health or lifestyle factors that may put you at risk? (smoking, being overweight, having high blood pressure, etc.)
 
3. As you get older, the need for long-term care increases. If any of your family members have lived beyond age 85, there is a good chance that you will, too. If your family members did not live beyond age 85, you still may, due to advances in medical technology.
a
 Until what age did your parents live?
b
Until what age did your other deceased family live?
 
4. If you are living alone, the probability of needing care at home or in an institution increases.
a
 Do you have family or friends living close who would provide assistance?
b
Would your children be able to provide care for you?
c
 Could they financially afford to take time away from work, and could they afford to take time away from their families?
d
 Would this cause hardship or stress for your children and their families?
e
 Would your childrens lifestyles change drastically if you moved in?
f
 How do you feel about moving in with your children?
 
5. If you are married and think that your spouse can take care of you, ask yourself these questions:
a
 Is your spouse strong enough and big enough to pick you up in order to help you to bathe, dress, turn over in bed, or walk?
b
Can your spouse emotionally handle the stress?
c
 If working, can your spouse financially afford to leave work to help out?
 
6. There are four major risks to a persons life savings. These are the following: a fire in the home, an auto accident, a hospital stay and a long-term illness.
a
 Did you know that 1 in 1,200 people will be faced with a major fire?
b
Did you know that 1 in 240 people will be in a major auto accident?
c
 Did you know that 1 in 15 people spend over $30,000 during their lifetime for hospital stays?
d
 Do you know that 1 in 4 people age 65 and older will spend some time needing long term care?
For people age 80 and older, the statistic rises to 1 in 2.
e
 What do you think of the odds of needing some type of LTC insurance?
 
7. President Clinton signed OBRA 1993, which has changed everyone’s retirement planning structure.
a
 Did you know that beginning in October 1993, the State is required to recover nursing home and long-term care Medicaid expenses from the estates of deceased I recipients?
b
Did you know that the State can go against any real or personal property or other assets in which you had some property interest-including the home that you held in your own name?
c
 Did you know that in some cases the State may even recover from assets you gave away or otherwise disposed of prior to death, or from property that you held jointly with someone else?
d
 Did you know that if you owned a LTC insurance policy no recovery would be made from long term care insurance payments?
 
8. Your personal attitude will also determine if LTC insurance is right for you.
a
 Medicaid is the consumers last resort. Many people call it Welfare. How do you feel about spending your money down to qualify for Medicaid?
b
When you are on Medicaid, you have no choice where care is rendered.
Would this matter to you?
c
 How would you feel if your children had to financially support you if you needed long-term care?
d
 How would you feel if your children would help you finance a portion of the long term care insurance?
e
 How would you feel if you had to ask neighbors, family, or friends to come in to help you?
f
 Do you plan to move to a continuing care or retirement community?
g
 What are your personal concerns about becoming ill?
h
 Do you think that LTC insurance can provide a solution to your needs?
i
 Do you think that purchasing a quality Long Term Care policy would help to give you peace of mind?
j
 Would you feel better going to bed at night knowing that you were protected?
 
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