CPS’ strategic partnerships have allowed for a diverse portfolio of Long Term Care options. The American population is growing older and with limited availability of resources for Long Term Care options, we constantly seek out new trends in the industry to provide our clients with the most innovative and complete services available.
Long Term Care is all about plan design and where the money is coming from to pay premiums. There is no “one size fits all” when you work with CPS Horizon. We use our expertise to design a plan that best matches your clients assets, needs, and objectives. When it comes to LTCi there are 4 main types of products.
- Traditional LTCi
- Life W/ LTCi Accelerated Benefits
- Life W/ LTCi Extended Benefits
- Annuity W/ LTCi Hybrid
Check out these articles to help you get started on planning for long term care!
- What’s Your Plan?
- LTC Pocket Guide
- Good, Better, Best
- Most Asked Questions
- Family Caregiving
- LTC Myth’s Vs. Reality
- Who Will Pay For Care?
- Covid-19, Medicare, and Long Term Care – Fact or Fantasy
Here a few helpful videos to further your understanding!
Before you are able to sell these products you need to have the proper certifications. In addition to having a life and health license, almost all states have an additional requirement for LTC certification. Although there are a few variations, the most common state requirement is completion of an initial 8 hour LTC course and a 4 hour refresher course every renewal period.
In some cases, the best solution for the client involves using an Annuity/LTC hybrid. This requires completion of a one time 4 hour annuity certification course and insurer provided product-specific training.
However, if you are not currently LTC or Annuity certified and don’t wish to be, please contact our office to discuss other options.
Long Term Care Insurance Options
| Solution | Legacy Protection | Flexibility | Leverage |
|---|---|---|---|
| Self Funding | Low | High | Low |
| Lifetime Annuity with LTC Rider | Medium | Medium | High |
| Life Insurance with Accelerated Benefits Rider | High | Medium | Medium |
| Life Insurance/Long-Term Care Extended Benefits | Medium | High | High |
| Traditional Long-term Care | Low | Low | High |
