LTC Queen

L-R, Rogene Calvert, Honey Leveen, Kate Dowlen, Natalie Rogers, Ramzi Dadoush

On November 13, about 65 people, representing the general public, caregivers, and financial advisors, attended what might have been the largest Long-Term Awareness Month event in the county. They convened at The Forum at Memorial Woods, 777 North Post Oak Road, Houston, TX.

To mark the occasion, a mayoral proclamation declaring November to be National Long-Term Care Awareness Month, was presented by Rogene Calvert, who works closely with Mayor White. Honey Leveen, LUTCF, CLTC, LTCP, gave a talk titled, “LTC: How Should We Plan For It?”

Long-Term Care Awareness Month is collaborative effort of the American Association for Long-Term Care Insurance (AALTCI) and the Assisted Living Federation of America (ALFA).

The Forum at Memorial Woods generously and graciously donated the meeting space, and a fabulous lunch.

In a recently published article, Dane Petchul, LTCP, CLTC of Long Term Care Insurance Pros, tells consumers that “monthly payments for a long term care policy should be considered investments in financial security.” Dane supports this statement with three reasons you may want to give your prospects during this period of financial uncertainty.

Click here for a link to this great article.

The following appeared in today’s Houston Chronicle. Dear Abby is a big proponent of Long-Term Care insurance (LTCi). I truly thank her for this beautifully written column. You will see when you read it, that LTCi is not mentioned. However, what is described accurately portrays how individuals and families can be shattered because care is needed and there is no LTCi to pay for it.

MOM’S DESCENT INTO ALZHEIMER’S CONSUMES HER DAUGHTER’S LIFE

DEAR ABBY: My beautiful, loving mother is now in the middle stages of Alzheimer’s Disease. This cruel disease has robbed her of her memories as well as the ability to reason and function.

Click Here for Your LTC Awareness Month Invite

November 2008 is the first ever National Long-Term Care Awareness Month (LTCA Month)! LTCA Month is jointly sponsored by the American Association of LTC Insurance (AALTCI) and the Assisted Living Federation of America (ALFA).

You are invited to a free LTCA Month luncheon event, generously underwritten and hosted by The Forum at Memorial Woods, 777 North Post Oak Road in Houston, on November 13, 2008.

Please Click Here for Your LTC Awareness Month Invite. We hope to see you there.

Honey\’s 10/08 Broker World Article

I’m pleased and proud to announce that an article I wrote got published in this month’s Broker World Magazine! I’ve attached the article, if you’d like to read it. It’s about how important it is to beware of, and plan for, the unexpected.

The world is getting smaller and smaller every day. If you’re considering purchase of long-term care insurance, and there’s any chance at all that you could wind up retiring to another country (which is a great idea, as my article describes, and will become more and more popular, I believe), you should consider purchase of a “cash type” LTC policy.

Many thanks to my friends at the FKM Agency, who got me contact info for the editors at O The Oprah Magazine.

O has dozens of editors! When you call, a computer receptionist answers and you voice prompt her. It’s very hard to decide which editor is the right one to contact about the faulty, erroneous reporting I’m concerned about. I selected Mark Jacobs, because it says he’s the Senior Women’s Interests Editor. Since he didn’t answer, I left a voicemail and sent the following email to him: 

Subject: I am blogging about bad info published in Oprah and would like your attention

Hi Mark

Friends got me your email. If you’ll click www.ltcqueen.com, you’ll get the history you need, fast. I write on behalf of many thousands of professionals and many more clients who would love some acknowledgment of what we consider grave and harmful mis-information.

Honey Leveen, LUTCF, CLTC

Your LTC Insurance Specialist LLC

www.honeyleveen.com

Phone: 713-988-4671

Fax: 713-988-3250

This lame, automated response, makes me mad!

oprah-response-letter-100608

I was mad with excitement when my husband told me that a hand-addressed envelope from O The Oprah Magazine was waiting for me! I thought perhaps my concerns had at last, been acknowledged. I rushed home and tore the envelope open, expecting a form letter with my name injected into it, at the very least.

I didn’t even get that! You can see the letter I did get, after 3 separate submissions of my thoughtful, courteous, professionally written letter, over a one and a half month period.

Please click the Oprah’s Reckless Discourtesy category of this blog, to see the actual sloppily researched, false, dangerous advice that disturbed me, and many others, so very much, when we read it in O The Oprah Magazine. You may also see the letter I’ve now sent them 3 times.

Despite 3 different submissions of my letter, I haven’t gotten anything except 2 perfunctory, automated responses from them. This is just not satisfactory to me.

In all modesty, I was very pleased with my reply to a client’s email asking me how long I felt a need for care would last, and whether LTC accrues a cash value. I realized this email might help others, so here it is:

LTC calculation tool

My other big issue, Dale, is that these tools don’t (can’t) take into account how great assisted living is, and how wide-scale it will be. This is because assisted living is still very new and many don’t really understand what it is. Currently, many don’t have the money to live in assisted living, since they don’t own LTC. I feel assisted living might be more popular than home health care for our generation.

Most experts say you should have at least a 5 year benefit period.

Personally, I own a Lifetime (endless, unlimited) benefit period. I personally like longer benefit periods because of the opinions I gave you above. That’s just me. Others disagree with me

I know that choosing what length benefit period you should have is the hardest part of your decision. My advice: buy the longest benefit period you can afford.

There is no equity in LTC. It is like homeowners insurance, which recently, many of us became extremely glad we own. If a tree doesn’t fall on your house, consider yourself lucky and sleep well. If it does, you’ll be glad you own the coverage. Owning the coverage will help you move on with your life and not cause hardship to those you love.

The odds of needing long-term care are much higher than the odds of claiming on your homeowners insurance. The cost of long-term care is higher than the average homeowners claim. That’s why LTC premiums are often higher than homeowners insurance.

I hope this email helps you, and is not too wordy.

Regards

Honey

Here’s an example of reckless, thoughtless, dangerous publicity, that evidently bears little relation to reality: for bad article, click here. It was written by Emily Brandon, of US News and World Report. I Googled Emily and didn’t come up with much about her personally. Her headshot is posted on her blog, however, and she looks like she’s about 28 years old. One of my theories is that perhaps, due to her youth, she lacks judgment, insight, common sense. Or perhaps she had a tight deadline and her extreme rush caused her to do virtually no research. The Consumer’s Report article she sites, is at minimum 2 years old. It was subject to immense criticism when it came out. Even lay people will be able to read this particular piece and scratch their heads, because it says a few illogical things.

By the way, if you read Ms. Brandon’s piece and are so moved, you can comment on her article, too.

Here is my reply, submitted to her blog:

“I will try not to re-state what I’m sure the others have said. Your advice defies all common sense and does the public harm and disservice.

For example, “Retirees with assets of $2 million or more should be able to pay for the full cost of care.”

I ask why would someone with $2 million or more want or choose to pay the full cost of care? Put a calculator on $2 million–choose your own rate of return—how much income does that produce? Not a lot! I believe that annual LTC costs of aprox. $40-50k/year and up will put a serious crimp on any family’s income and welfare in these circumstances.

There are other things in this piece that are nonsensical, as well. Please do your research and use common sense when giving advice about LTC. Let your brain and your heart guide you. Do not depend on outdated sources. Consumer’s Report is the last thing I would rely on for insurance advice. I think they should stick to what they’re better at: rating cars and toaster ovens.”

My friend Steve Moses, President of the Center for Long-Term Care Reform, is featured in a new, 23 minute video, that I think is really great.

The video describes why LTC insurance is necessary for just about everyone. It also explains why the topic of LTC insurance is often overlooked by highly trained professionals, like CPA’s, and why the public often chooses to disregard the probability and risks associated with needing care.

The video was created for CPA’s, but anyone who likes insight and in-depth knowledge, should enjoy it. For example, if you’re an engineer, or a lawyer, or someone who likes details, especially if you’re considering the purchase of LTC insurance, I believe you will follow the video and enjoy it.  I have to warn you, for lay people like me who have social sciences background, it may be too dry, or too slow. The content and insights are wonderful, however.

To see it, just click here. Log in afterwards, and give me your comments on it.