Purpose

To assess your ability to:

select long-term care products for clients

explain the sources of coverage for long-term care insurance

Overview

Long-term care (LTC) impacts issues ranging from family lifestyles to workplace productivity. The state of Ohio recently became a partnership state and has begun to encourage citizens to insure this risk. With the largest percentage of long-term care claims arising from those younger than age 65, explore what are some of the consequences of the growing risk of needing long-term care and its impact on personal financial planning. The Ohio Long Term Care Partnership Program is designed to encourage Ohioans to insure against the risk of long-term care by purchasing their own long-term care policy. This video (http://www.pbs.org/wgbh/caringformomanddad/) is an example of a citizen using long-term care.

Action Items

Answer the following questions:

Do you believe the Partnership Act will address society's growing financial burden of long-term care costs? Why or why not?

How do families finance the cost of long-term care?

Explain the financial and emotional impact to families and businesses due to a long-term care event.