Nicole Gurley, CLTC
LTCI Consultant for LTC Compass
I gained experience essential to understanding the importance of long-term care planning as an executive in healthcare, insurance and financial services. Along with serving as president and chair of the Financial Planning Association of Greater Phoenix, I also hosted the radio program, Planning Past 50 … It’s more than just your money!
My front-row seat to the realities of long-term care motivates me to help you create a plan to minimize the risk of long-term care expenses for your clients. My mother died at age 88 after 14 years of dementia. Dad died at 102, never needing a day of care. My siblings and I were lucky. Our parents had long-term care insurance.
I work with hundreds of financial advisors throughout the country who, like me, are concerned about long-term care and its financial, emotional, physical and psychological impact on clients and their families.
Like many of your clients, I am widowed and do not have family close by to rely on for long-term care. Nor would I want to burden them with my care. As a result, I do have a plan in place.
When it comes to products, we do it all – standalone, life insurance with LTC riders and annuity with LTC riders.
Many of these products offer a number of options and a variety of contract provisions.
We only represent A-rated carriers including Mutual of Omaha, Nationwide, National Guardian Life, OneAmerica and Securian.
We can help you with Pension Protection Act 1035 exchanges including life to life, annuity to annuity and life to annuity without creating taxable events.
Many clients today are baby boomers. And their money is in qualified retirement plans. We can also help you with transfers from qualified funds into specifically designed products that spread taxes over 10 years.
If you have clients who are business owners, we can also help with multi-life products for employees on a voluntary basis or with employer-paid premiums or a combination.
Many clients who want long-term care insurance cannot qualify due to health or age. We also represent True Freedom, a unique home care membership service, for clients who are not insurable. This home care option provides attractive home care at greatly reduced hourly costs.
In our experience, several factors need to be considered in determining if long-term care insurance (LTCI) is the appropriate funding option for a client.
- Health determines insurability.
- Wealth contributes to product design.
- Asset location directs funding strategy — cash value that could fund LTCI.
- Financial goals confirm coverage recommendations.
Together with our four-step process, these factors provide a comprehensive approach to long-term care expense planning. Our four-step process includes:
- Detailed Health History – Determines insurability, carrier, product and cost.
- Education and Recommendations – Basics to make prudent decisions about cost and coverage.
- Application and Underwriting – Completing forms and underwriting requirements.
- Policy Delivery
We can help whether you are a comprehensive planner or portfolio manager.
If planning for long-term care expenses is part of planning for every client, we can be your back office.
But if planning for long-term care is a topic that comes up every couple of years, you can refer to us and we will manage the transaction for you while keeping you informed as the process continues.
