Bullet: New Books on
Long-Term Care Planning
Wednesday, August 15, 2007
LTC Comment: Three
new books on LTC planning. We
review Phyllis Shelton's today, after the ***news.***
*** TERRY SAVAGE, the Chicago Sun-Times
nationally syndicated financial columnist, had kind words for last
week's "LTC Bullet: Nursing
Home Pot Calling LTCi Kettle Black?," August 8, 2007 at http://www.centerltc.com/bullets/latest/707.htm:
"Steve -- great letter, and I felt good that I
say the same things in my speech. But the last line was fantastic,
and I'll adopt it if you don't mind. 'Sure, scrutinize the way LTC
policies work -- but also take a close look at Medicaid, because that's
your 'Plan B'!! I love it. Terry" ***
*** SPECIAL ANNOUNCEMENT:
The Center for Long-Term Care Reform's "LTC Graduate
Seminar" will be available ONLINE in October.
On August 29, 2007, Steve Moses will describe the LTC Grad
Seminar in a free, 30-minute Webinar.
Sign up today for the free introductory Webinar at:
. Then, we trust you'll want to enroll in the "LTC
Graduate Seminar" itself. We've
conducted the program face to face in dozens of cities all around the
country to rave reviews. Read
all about it at http://www.centerltc.com/LTC_Grad_Seminar/online.htm,
including many pages of testimonials.
Now, you'll be able to take this course in easy, hour-long,
online doses over eight weeks. But
first, find out all about it at our introductory Webinar August 29. Register now at https://www.gotomeeting.com/register/669770207
*** SAMPLE TESTIMONIALS ON THE LTC GRADUATE SEMINAR:
you for the excellent job you did here in Portsmouth on August 10.
Your seminar exceeded our expectations.
This kind of in-depth training is what I think every LTC/LTCI
business needs, if it is to manage effectively in a complex environment.
Several people remarked to me afterwards that it was impressive
that you could hold people's attention for almost seven hours.
I told them it was because you really knew your subject and would
have made a very good professor."
(Paul Forte, Chief Executive Officer, Long Term Care Partners,
LLC; comment on LTC Graduate Seminar for LTC Partners in Portsmouth, New
Hampshire, August 10, 2006)
LTC BULLET: NEW
BOOKS ON LONG-TERM CARE PLANNING
LTC Comment; When
it comes to books on long-term care planning, we have an embarrassment
of riches all of a sudden.
Harley Gordon's new book, "In Sickness and in
Health: How to Discuss and
Create a Plan for Long-Term Care and the Consequences to Your Family and
Finances if You Don't" will be out in September.
We'll review it then.
Valerie Van Booven tells me her new book, titled
"The Senior Solution: A
Family Guide to Keeping Seniors Home for Life!," is available now
on Amazon for $16.95. We'll
review it when we receive a copy.
The latest edition of Phyllis Shelton's
"Long-Term Care: Your
Financial Planning Guide" is out.
Buy it at www.phyllisshelton.com
for $18.00. I'll keep
today's review brief, because I've assessed earlier editions of
Shelton's book at least three times . . . and very positively:
LTC Bullet: Year 2000 Shelton LTC Guide Available,
September 21, 2000, http://www.centerltc.com/bullets/archives2000/phyllis.htm.
Shelton Does it Again, Tuesday, July 10, 2001, http://www.centerltc.com/bullets/archives2001/285.htm.
LTC Bullet: Shelton's
2003 LTC Planning Guide is Good and Current, June 12, 2003, http://www.centerltc.com/bullets/archives2003/446.htm.
Each edition is better than the previous one and
this latest is no exception. Fully
revised and updated to cover all the latest legislation and regulations,
professionals will find it a helpful reference.
Prospects and clients--at least those who like to dig in to the
details and understand what they're buying and why--will appreciate the
book's clarity and comprehensiveness.
Endorsements from some of my favorite people in the
field grace the covers:
Mary Beth Franklin of Kiplinger's says "Anyone
thinking about buying long-term care insurance should read this
Ken Dychtwald of Age Wave confirms "this is
the most comprehensive guide on a topic that will affect every American
in the 21st Century!"
Nationally syndicated Chicago Sun-Times
Financial Columnist Terry Savage [also quoted in today's ***news***]
assures "Phyllis Shelton's advice about long term care planning can
make all the difference for your entire family."
Phyllis Shelton is an institution in the field of
long-term care training. So
you can count on the chapters about service delivery and insurance being
accurate, complete, and up to date.
Naturally, my eye always turns to the section on
Medicaid when I read books on LTC financing.
Shelton gets that subject right too.
She warns about the downsides of relying on publicly funded LTC,
points out the risks of Medicaid planning, and lays out the basics of
Medicaid eligibility in a very readable form.
A blurb at the beginning of the book says:
"Special book excerpts or customized printings can also be
created to fit specific needs."
To find out what that means, call Bill Pomakoy at 1-888-400-1118.
And Shelton has another new product on the market.
According to a marketing email we received:
"The 'Build Your Brand' Book Authoring Program from
Phyllis Shelton. . . . [is] the most revolutionary lead-generation idea
to come along in this decade! . . .
'Long-Term Care: Is Your Family Protected?' This exceptional book,
ghostwritten by Phyllis Shelton, has customizable chapters
throughout." Call that
same number (888-400-1118) if you're interested.
So, whether you want to read a book, give one to
your customers, or publish one yourself, Phyllis Shelton has you
Congratulations, Phyllis, on another important
contribution to the long-term care mission.
are some passages that caught my eye (minus page numbers as I'm working
with an unpaginated electronic version of the book):
often ask me what can we do for people who don't qualify medically for
ways people consider financing long-term care are through accelerated
death riders to life insurance policies, viatical or life settlements,
life/long-term care insurance policies, annuity/long-term care insurance
policies, reverse mortgages and critical illness policies. An overview
of each of these six options is presented as additional information for
the long-term care planning process."
Home equity conversion is a great source for
funding long-term care AND premiums for LTCi:
"Rather than pay for long-term care services
directly, much more mileage can be obtained from the money by purchasing
long-term care insurance if the owner is insurable. He or she can
purchase a long-term care insurance policy outright by paying a monthly,
semi-annual or annual premium. Some
borrowers take the reverse mortgage as a line of credit, and then use
the interest growth each year to pay their long-term care insurance
premiums. Or, a lump-sum obtained from a reverse mortgage can be used to
purchase a single-pay long-term care insurance plan that is available in
some states or an annuity, which can then be set up to pay the LTC
insurance premiums for the rest of the insured’s life. Or, the lump
sum can be used to purchase a life insurance or annuity long-term care
insurance policy as described in the preceding section that pays LTC
expenses with a guaranteed premium."
everyone can afford a Lexus OR a comprehensive LTCi policy.
Bare-Bones/Best Value Policy for the Premium Conscious