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PODCAST

Preparing For Tomorrow podcast

Diane Stoddart, Certified Long Term Care Consultant, CLTC

Diane Stoddart, Certified Long Term Care Consultant, will show you how to protect your family and loved ones from the financial, physical and emotional burdens and consequences when long term care is needed. In each episode, Diane will help you to navigate through long term care concepts, terms and options and to discuss what strategies are available that can best protect both your family and your nest egg. We will invite guests to sit with us and share ideas regarding various parts of our lives

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All Episodes

11:51

Stand-alone LTC - shared and individual

Preparing For Tomorrow podcast ·

2025/06/12

After reviewing planning strategies for hybrid or linked benefit LTC plans, this week we are comparing shared and individual traditional or stand-alone LTC plans. Yes, there have been rate increases on these plans, but over the last 20 years or so, traditional LTC plans have gotten much healthier. Listen and learn how. When funding using income or on a budget, these plans can help families afford to get through an extended care need without bankrupting their loved ones. It's easy to see that

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12:40

shared vs. individual LTC plan comparison - how do...

Preparing For Tomorrow podcast ·

2025/06/05

Anna & Marty compare shared hybrid life/LTC plans with separate LTC plans for each of them. It's a matter of preference and goals. The LTC and death benefit are directly related, so plans with higher LTC benefits have larger death benefits. The death benefit acts as a return of premium if care isn't needed. The key differences in shared and individual plans is who can use the LTC benefits and for how long, who can be beneficiary, and when does the death benefit pay? Listen and learn how these plans

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10:54

Are shared LTC plans the same as Partnership plans?

Preparing For Tomorrow podcast ·

2025/05/29

This week, Jen asked if she and her husband can own a long term care plan together and share the benefits with each other. She asked what happens if one person uses all the benefits. And what happens if neither of them need extended care services. She wants to know if it would be better to have two separate plans or share one and can they be each other's beneficiary. She also asked if this is the same as LTC Partnership. Listen and then schedule with me to design a plan to protect your loved ones if

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10:14

This week, I'm talking to dads

Preparing For Tomorrow podcast ·

2025/05/22

This week, we need to pay attention that LTC is not just a women's issue. It used to be more focused on women because we live longer and are more likely to live alone when help is needed. Today, with so many divorces, we have a lot of single men who will also be living alone when help is needed. But men are the providers for their kids and familiues. There is no time to consider that you won't be providing. LTC insurance helps you continue to provide for and protect your kids, even if you can

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12:43

Highlights from 2025 Sustainable Solutions: Future of...

Preparing For Tomorrow podcast ·

2025/05/15

This week, Diane shares what she learned while attending the 2025 Genworth LTC Symposium "Sustainable Solutions: The Future of Long Term Care Financing". We all agree on the problem and wonder how long it will take for all parties (public & private) to agree on a solution. The links below provide info on who is supporting the Well-Being Insurance for Seniors to be at Home (WISH) Act. Please reach out to your Congressmen/women and ask then to support this Act as it will help our most vulnerable

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11:25

More people with memory concerns at younger ages -...

Preparing For Tomorrow podcast ·

2025/05/08

Government is talking about cutting Medicare and Medicaid funding while costs of care are increasing. Dementia used to be considered a mental defect, and people were hidden from the rest of society and not talked about publicly Today, we know tis is a disease that needs to be managed. We also know that younger people are developing memory concerns. The plus is that we're not afraid to talk about it anymore. The negative is that we're delaying the needed planning until it's too late to design

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17:16

Guest interview: Mike Simenstad with NGL - How LTC...

Preparing For Tomorrow podcast ·

2025/05/01

This week, I interviewed Mike Simenstad, an LTC veteran with 34 years of experience working for several LTC carriers and distributors. He currently works for National Guardian Life (NGL), a traditonal LTC company across the United States. Mike, and others in his role help me and other LTC specialists to be able to work smarter for our clients. We all work together as a team to find the best solution for each family. Mike answers questions about tools/resources consumers use to research and why

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09:31

I want to buy an LTC policy for my parents

Preparing For Tomorrow podcast ·

2025/04/24

We often hear from sons and daughters who want to buy LTC coveeage for a parent. This could be to preserve a family home, to avoid Medicaid, or because they watched their parents care for their own parents for several years. They don't want to go through that again. This works if the parent is still healthy enough to be approved by an insurance company. Different kinds of planning strategies are offered by different companies up to various age limits, and health questions differ as well. We can be

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16:20

What tax advantages are you overlooking?

Preparing For Tomorrow podcast ·

2025/04/17

This week is about tax deductions and tax savings with LTC insurance. Individuals and business owners often overlook the tax advantages that a long term care insurance plan offers. Listen and learn who can use what kind of tax planning when funding their LTC plan. Disclosure: I am not an accountant or tax advisor. I'm simply sharing what tax saving strategiesa are available. Consult your CPA or tax advisor for specifics to your situation. Note: I mention non-forfeiture benefits on traditional

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09:34

In this economy, it's even more important to have a plan

Preparing For Tomorrow podcast ·

2025/04/10

This week, I'm hearing that people want to plan for potential LTC needs, but they are afraid to do that today because of our uncertain economy and stock market fluctuations. It's more important than ever to own our own plan today. Federal programs are being gutted, and Medicare and Medicaid are the two biggest expenses on the federal budget. Medicaid is not going to do more in the future. People who thought thay had enough savings to self fund care are seeing today that that should not be a lone

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10:29

30 years of retirement needs 30 years of LTC protection

Preparing For Tomorrow podcast ·

2025/04/03

We and our financial advisors are preparing to need money to last 30 plus years in retirement, yet we don't trust LTC insurance companies to help protect us during that time. If we think we're going to live that long, do we really believe we will remain as strong, healthy and active as we are today? Look at our parents and grandparents. Humans slow down as we age. Dementia is showing up in our 60s. People are having strokes in their 50s due to stress. We need to be prepared. LTC insurance is

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11:16

Don't do these things until after you've considered...

Preparing For Tomorrow podcast ·

2025/03/27

I wanted to title this episode "Stable & Controlled" because that's what LTC health underwriters look for in every applicant's medical history. Today, I share several things not to do until after you've applied and been approved for some form of LTC insurance. We don't need to be in perfect health, but we need to be aware of red flags that the insurance companies will view as an unacceptable risk. Listen and learn what not to do until both you and the insurance company of your choice have made

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11:36

Case Study: Is age 79 too late to buy LTC insurance?

Preparing For Tomorrow podcast ·

2025/03/20

I was introduced to a couple ages 79 and 72 who thought it might be too late to plan for LTC protection. Thankfully, companies that offer LTC coverage continue to create new ways to plan and help older Americans protect their loved ones when an extended care need shows up. If you think you may have waited too long, you might be surprized at what is available today. Schedule a meeting to learn more Estimate LTC insurance premiums (These are not the plan I'm sharing today) Check out current and

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09:51

Questions 9 & 10 - Nursing homes? Paying family?

Preparing For Tomorrow podcast ·

2025/03/13

This week, we answer two questions by sharing some history of the long term care industry. 1) Do I have to go to a nursing home to receive my benefits? 2) Can I use my LTC policy to pay my family? Listen and learn how the LTC industry has evolved over the last 51 years to accomodate needs and desires of our aging population. Estimate LTC premiums Schedule to ask me a question Learn how much income and assets your state Medicaid system let's you keep Catch more episodes Learn current and

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11:56

Question 8 - How long will I need to pay my LTC...

Preparing For Tomorrow podcast ·

2025/03/06

Would you rather pay $145,000 or $245,000 in total premiums to have $1,300,000 in long term care benefits at age 85? When we pay our premiums over a shorter number of years, we almost always pay less than if we pay a smaller rate for the rest of our lives. It's important to understand the big picture of both physical and financial health when designing a plan. If I don't ask questions, I won't know if there is a way to pay $100,000 less for the same benefits. Estimate recurring LTC premiums

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12:12

Question 7 - Does Medicare pay for long term care?

Preparing For Tomorrow podcast ·

2025/02/27

Many believe that Medicare pays for long term care needs. Many also confuse Medicare and Medicaid. Listen and learn how both of these government programs work and why we need to understand why it's important to plan for ourselves and maintain control over where we live and who is helping us when we are unable to care for ourselves for an extended and unknown amount of time. What state Medicaid offices let you keep Schedule a meeting with me 15 minutes to ask a question - schedule Check out

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11:15

Question 6 - What's the best age to buy LTC insurance?

Preparing For Tomorrow podcast ·

2025/02/20

This is always the question. We all want to wait as long as we can before paying for something we don't want to own to protect our family from something that we don't want to happen. Let me tell you - if that something is going to happen, it will whether we plan or not. Don't end up where the state Medicaid system "puts you" because you didn't plan ahead. Most people plan 25 years before along term care need arises. When should you plan? Listen here. Schedule a meeting Ask a question

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12:01

Question 5 - Are there tax deductions when I own LTC...

Preparing For Tomorrow podcast ·

2025/02/13

Estimate LTC premiums Schedule a meeting with me Ask a quick question Listen to more episodes Learn what your state lets you keep to qualify for Medicaid Cost of care estimator is

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13:37

Question 4 Part 2 - Annuities: can I get my money...

Preparing For Tomorrow podcast ·

2025/02/06

Annuities can be confusing, and we tried to help keep this clear and understandable, but ---- annuities can be confusing. Schedule a meeting with me to learn more Ask a question Estimate LTC premiums Listen to more episodes Project future costs of care in your area Learn what Medicaid let's you keep This last link is a link that is shared by 6-8 LTC professionals, so if you'd loke to shecule, pleas eus my first limk above. Thank you

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11:37

Question 4 - Can I get money back if I don't need care?

Preparing For Tomorrow podcast ·

2025/01/30

There are multiple ways to design LTC plans to get mney back of care isn't needed. Listen to many options today. Part two comes next week. Estimate LTC insurance premiums here: Schedule a meeting with me here: Get a question answered here: Listen to more podcast episodes here: What your state lets you keep: Cost of Care estimstor:

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