Miscellaneous

Long-Term Care Fundamentals (Updated)

Course Overview:
The risk of needing long-term care – a designation given to a broad range of services designed to meet an individual's mental, emotional or physical health and personal needs and which are often provided over an extended period of time – is present at all ages. However, as individuals become older the risk of requiring long-term care increases significantly.

The U.S. population is expected to increase in size by about 27% by the year 2050. In contrast, the part of the U.S. population most at risk for needing long-term care – the segment comprised of individuals 85 years old or older – is expected to grow about 280% during this same period. Not only is the part of the population most at risk for needing long-term care growing disproportionately, the cost to provide that care is also increasing. Long-term care costs are substantial and, over the last several years, have been increasing at a rate that exceeds the inflation rate.

The growing risk of needing long-term care fueled by a rapidly aging population coupled with the high and continually increasing cost of such care can present burdensome financial concerns to many clients and their heirs. This course examines the nature of long-term care, the forms in which it may be delivered, the risk of needing such care, the costs of long-term care, the sources available to pay long-term care costs and the features of long-term care insurance.



Learning Objectives:

After completing this course, the course participant should be able to:
  • Recognize the types of services that constitute long-term care and the settings in which they are provided;
  • Define the benefit triggers associated with qualified and nonqualified long-term care;
  • Identify the national average cost in the United States of obtaining various types of long-term care and the sources available to pay for the care;
  • Recognize the benefits and tax treatment of long-term care insurance and the alternatives for funding long-term care; and
  • Determine the suitability and ethical issues associated with recommending the purchase of long-term care insurance.

  • Content Partner:

    SmartPros Ltd.

    SmartPros Ltd. is a leader in online and offline continuing education for
    accounting, finance and engineering professionals. With over 2,000 hours of
    content, SmartPros has been providing mandatory continuing education
    products since 1981. SmartPros provides services and content to its
    professional and corporate clients, in a variety of media including Web, CD
    ROM, and video. In the accounting market, SmartPros also has a predominant
    news and information portal which receives 200,000+ visits per month and
    provides services to over 100,000 subscribers. SmartPros' customers include
    50% of the Fortune 500, as well as the major firms and associations in each
    of its professional markets.


    Prerequisites/Advanced Preparation:

    None

    Speaker / Author:

    Paul J. Winn CLU ChFC

    Education
    B.A. (Philosophy), St. John's University (1961 – 1964) Law School, University of Virginia (1964 – 1965) MBA program Binghamton University (1986-1989)
    CLU (1985)
    ChFC (1987)

    Experience
    Thirty years in the life insurance and investment industry (1965 – 1995). Nineteen years as a financial writer, editor and trainer (1995 – 2014).

    Mutual Life Insurance Company of New York
    Product developer
    Compensation officer
    Agent
    Sales manager

    Security Mutual Life Insurance Company
    General agent
    Marketing vice president
    Agency vice president
    Vice president - strategic planning officer

    Principal Financial Group
    Agency Manager

    Maryland Financial Corporation
    President

    Freelance Writer & Editor
    Published book author.
    Writer & editor of major mutual life insurance company’s agent training university. Creator of more than 200 insurance, securities and tax training courses in online, print and scripted classroom formats.

    Insurance Industry Involvement
    Member, Board of Directors, Baltimore Chapter of CLU & ChFC
    Chairman of Continuing Education, Baltimore Chapter of CLU & ChFC
    Moderator, GAMA Agency Managers Training Course (AMTC) Baltimore
    Member, Board of Directors, Southern Tier (NY) Chapter of CLU & ChFC
    President, Southern Tier (NY) Chapter of CLU & ChFC 1987-1989
    Member/Secretary, Advisory Board to New York State Insurance Department 1985-1989

    Software & Hardware Requirements:

    • 56k or Greater Internet Connection
    • Adobe Acrobat® Reader for the .pdf files
    • Adobe® Flash® Player 9 or higher
    • Modern DHTML Compatible Browser
    • Ram: 256 MB minimum
    • Windows or Mac OS

    Price (USD)

    Standard Rate: $124.75

    Details

    Course Code : 99WIN05-v2

    Length : 3hr 20min
    Course Level : Basic
    Course Type : Self-Study
    Passing Grade : 70%
    Format Type : eLearning
    Mobile Compatible
    Field Of Study : Personal Development

    Theme : Miscellaneous

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