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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

13:34

How can I be sure I can live at home no matter what...

Preparing For Tomorrow podcast ·

2024/04/03

This week, Diana wants to know what she needs to do to be sure she can live out the rest of her life in her owm home. I know we're all asking this question, because we want to stay home no matter what as well. That really depends on how much support and assistance we can rely on from our family. Do they live nearby? If they say they will help us, are they actually able to do so? If we own LTC insurance, how many hours of care will the benefits cover? If it's not enough for 24/7 care, how will

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13:21

Is the LTC plan my company is offering the same as...

Preparing For Tomorrow podcast ·

2024/03/27

Employers are seeing their employees reducing hours or leaving work to care for parents, spouses and other family members. They're searching for strategies to help keep employees at work.. Group LTC plans are again becoming popular, and they look different than they did in yesteryear. Listen and learn what is available as an LTC worksite solution. If you own a business or you are an employee of a business and want your employer to consider group LTC, contact me for information Schedule 30 minutes

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11:46

Questions we can't answer today need to be addressed...

Preparing For Tomorrow podcast ·

2024/03/20

In last week's episode, Diane shared a boatlod of questions we need ot be asking when planning for extended care needs (LTC needs). This week we cover the questions that can't be answered until that need invades our family. Although, we may not know what, when, where, or how long , we still need to plan early so we can be prepared for whatever happens. How can we do this? Listen, learn, and schedule a meeting to discuss planning alternatives. My calendar: Email me to receive a planning

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16:17

The LTC plan everyone needs - with or without insurance

Preparing For Tomorrow podcast ·

2024/03/13

Long term care planning is about more than the insurance or funding for care. This week, Diane shares important questions we and our families need to be asking today. Regardless of where you will live, who do you want helping you? Do they know this? Are they able to do what you need? What do you want to have happen when extended care is needed? Where do you want to live? It's much easier to have these discussions today, while you're not in the middle of a crisis. Have the conversations now so

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11:18

Rate increases are the elephant in the room

Preparing For Tomorrow podcast ·

2024/03/06

This week, Mark asked if he can expect his traditional LTC premium to double every 12 years. Many older traditional LTC policies were priced inaccurately and are now receiving increases to match today's expected risk. Listen and learn what has changed since these policies were offered. Learn how the regulators and the insurers are working to keep rates more stable. Learn what you can do to secure a plan that is guaranteed to never have a rate increase as long as you live. Learn why it's wiser to

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14:12

Baseball and Long Term Care - What league are you in?

Preparing For Tomorrow podcast ·

2024/02/28

It's February and spring training season in Florida. Listen to Diane compare different types of planning strategies to the A, AA, AAA minor leagues and to Major league Baseball. Different levels of plans can be designed to meet each family's unique needs and budget. Just like in baseball, we need to Prepare today to be ready for a strong season, carry the playoffs and make it to the World Series of long term care. I can't say that needing extended care is like winning the World Series. I can say

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13:13

What happens at claim time?

Preparing For Tomorrow podcast ·

2024/02/22

I have four clients opening LTC claims this week. Three are for memory care, and one is for hospice care for teminal cancer. All are women in their early 70s. I wish no one ever needed to use the LTC plans we've developed, but I am so glad that I have answers and can assist when their family memebers ask for help and guidance. All of these women were in great health when they bought their plans, most over 10 years ago and one in 2020. One claim was declined, and I'll share why in this episode.

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08:55

Peace - Love - Joy - Hope

Preparing For Tomorrow podcast ·

2024/02/14

Peace - Love - Joy- Hope These are things we want for our kids and those whom we love most. Love is having a plan, when life doesn't go as planned, to not disrupt our family more than necessary. We need to plan for our future so we don't steal our kid's futures from them. Almost everyone who asks me about LTC planning does so as an act of love for their family. We don't want to burden our kids. We don't want to hurt or bankrupt our spouse. We want to live at home near our loved ones when long term

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12:22

Case Study - If she had an cash indemnity plan, it...

Preparing For Tomorrow podcast ·

2024/02/07

Most of us want to stay home when long term care services are needed. Often, we can if we have a strong family support system. Sometimes, it's safer to move to assisted living for more hands-on assistance. Pathfinders Downsizing Solutions can help you resize your living arrangements when you move into a smaller space. Reimbursement LTC plans can't pay for a home care person to stay with us in a facility setting because the care licenses are different for each type of care. Cash indemnity plans

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11:52

Which words help and which damage our ability to plan...

Preparing For Tomorrow podcast ·

2024/01/31

This episode is all about words. Words that your doctors enter into you medical charts... Words that you use when attempting to open a long term care claim... Words your doctors use on your LTC Plan of Care when opening LTC caims... Words you share with your doctor that get added to your medical records... We need to be aware of how helpful or how damaging words can be in each of these situations. Most important is that the AMA has approved a simple blood test to diagnose Alzheimer's with 97%

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10:43

What are our parents thinking? And why?

Preparing For Tomorrow podcast ·

2024/01/24

I've heard so many stories from adult children who have parents that own LTC insurance and don't want to use it. Why? Our aging parents refuse to admit they need help getting through each day. Why? We're going to tackle these questions and more this week. I'm sure you have either experienced some of these situations, or you know someone who has. This week, we're going to teach you how to coach your parents so that they learn to want the help they've already paid for. We're also going to share how

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14:04

What is Underwriting? What is reverse underwriting?

Preparing For Tomorrow podcast ·

2024/01/17

A woman whom I've been encouraging to purchase LTC insurance over the last 2 years contacted me this week. She shared that she had a TIA (Transient Ischemic Attack) in December and wondered if that disqualifies her from buying a plan. This happens far too often. People explore LTC plannng options and then decide they want to wait to buy a plan for whatever reason they tell themselves is justifiable. Then a health concern shows up and limits options severely. This week, I'm sharing what different

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13:18

Welcome to Preparing For Tomorrow 2024!

Preparing For Tomorrow podcast ·

2024/01/10

Welcome 2024! The LTC industry is getting more exciting every day (for me anyway). In this episode I'll share some changes that have occurred in 2023 and also what we can expect in 2024 and beyond. We are heading in a positive direction... More people are aware of ther need to plan More employers are implementing worksite LTC plans along with more family caregiver support for employees More plannng products are becoming available for both individual and worksite LTC solutions Cost for plans are

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02:22

Marry Christmas - Happy Holidays - Welcome 2024!

Preparing For Tomorrow podcast ·

2023/12/20

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13:02

Can I stop/pause benefits after I start using my LTC...

Preparing For Tomorrow podcast ·

2023/12/13

Emily in MIchigan has a cash indemnity LTC plan. She asked, "Do they just keep paying until the benefits are all used or can she stop the payments mid-stream if care is no longer needed?" Indemnity plans simply pay the maximum benefit each month without any need for invoices to be submitted, so how will they know to stop paying? Diane shares some key differences in how both reimbursement and indemnity LTC plans work. Let's talk and find out which may work best to protect your family, assets and

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13:43

Will you review my LTC policy and tell me if it's...

Preparing For Tomorrow podcast ·

2023/12/06

Nick asks if Diane will review his current LTC plan and help him to understand how it works and if it will do what he thinks it will do. Unfortunately, we find many people in this situation. They bought a plan several years ago and never again saw the agent who sold it. Too many agents don't think beyond the sale, while the clients really need their help many years, or even decades later. Too many plans are built to cover today's needs, without considering that costs of care will increase

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09:36

LTC Awareness Month - Physical - I'm tired, and I...

Preparing For Tomorrow podcast ·

2023/11/29

Some of the information for this week's episode is from Check out the "For the Public" tab. Then schedule some time with me to stop the cycle of family burnout at This week's caregiver stress is physical. This stress is often the result of neglecting the other stressors we discussed this month - time, financial, emotional and social. Caregivers too often feel obligated to prioritize the needs of their parent or loved one who needs help. Then they provide for their own family and career and

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10:56

LTC Awareness Month - Caregiver strain - SOCIAL

Preparing For Tomorrow podcast ·

2023/11/22

It's still LTC Awareness Month, and we're still focused on help for the family caregiver. It's very easy for caregivers to fall into the trap of social isolation and lonliness. The focus is always on the needs of the care recipient, and the caregiver may feel guilty for wanting things or activities for themselves. LTC insurance is all about helping the caregiver help us better and longer, without wearing out. Socialization is a basic human need. We weren't created to be isolated and alone, and

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13:08

LTC Awareness Month- Caregiver Strain- Emotional

Preparing For Tomorrow podcast ·

2023/11/15

Caregivers get stressed out for many reasons and in many ways. Some of my information this week is from personal experience caring for my grandma, and also from stories my clients have shared with me over the years. Most comes from the Family Caregiver Alliance, who provides Caregiver Connections as well as resources to help family caregivers find answers to questions they don't even know to ask. Far too many people become caregivers, whether gradually or suddenly, not because they asked but

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08:35

LTC Awareness Month - Caregiver strain - MONEY

Preparing For Tomorrow podcast ·

2023/11/08

Long term care is for the care recipient, but it's really about the caregiver, and far too many caregivers are spending their own income and retirement assets to provide for a parent, or an older family member or friend, because the care recipient ran out of money. You promised to never put them in a nursing home, and you are now sacrificing your own futures in your attempt to keep that promise. Family caregivers are spending, on average, 26% of income to provide this care. That's a BIG chunk of

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