Loving LTCI Claim Time

For many years, I've been active in caregiving trade associations. I've taken as many opportunities as I could to tour assisted living, personal care homes, nursing homes, and adult day care facilities. I've attended many lectures on the various aspects of aging, and I've forged long-term relationships with home health care agencies, geriatric care managers, movers who specialize in turnkey downsizing, and professionals who help people find the most appropriate facility placement. This has paid off in three ways. First, I've learned a lot about the world my clients enter after they go out on claim. Second, many of the professionals I've worked with have become my clients. And third, I've become pretty skilled at assessing my clients LTC needs well enough to confidently refer them to the most competent people to help them make this big transition.

I believe it is an emotional and financial mistake for advisors to shy away from assisting clients at claim time. It just doesn't take that long, it's not that difficult, and it's so rewarding.

Determining whether a client is ready to go out on claim should be easy for any advisor who has sold more than a few LTCI policies. I ask clients questions such as, do they need someone to stand outside of the shower while they bathe? Do they need to sometimes take this person's hand to keep their balance as they step out of the shower? Is it easier for them if someone hands them their shirt or helps them put their arm in the sleeve of their shirt, or helps them get up from a chair?

Typically, there is no need to assess whether there is cognitive impairment. In these cases, it is usually a loved one who calls on behalf of my client. I usually just confirm that a diagnosis of cognitive impairment or dementia is already in my client's medical records. Then, I describe how the policy works, explain how their loved one will benefit from collecting from it, urge them to go forward with their claim, and typically refer them to one or more of the colleagues mentioned above.

When I make such referrals, I already know that the care and services my clients receive will be exemplary. The home health care agencies I refer to do all the claim paperwork for my clients; so the submitted claims are usually complete and get paid promptly. Filing LTCI claims is just not that complicated. I strongly encourage advisors to reach out and form good relationships with these folks for two reasons. First, having such competent colleagues is a powerful reflection on you and will enhance your reputation. Second, these strategic alliances tend to create a cross-flow of very strong reciprocal referrals.