Sage co-founder Paul Partridge, RFC® addresses common questions and issues a word of caution about long-term care insurance.

Q: People can get emotional on the topic of long-term care insurance.

PAUL:  Do you mean they get angry when their premiums jump by 70… 80… 100 percent in one year? I don’t blame them – I would, too! That’s why we’re not big fans of traditional long-term care policies.

Q: Do you recommend people stay away from long-term care policies?

PAUL: We recommend they stay away from those“use it or lose it” type policies where premiums seem to go up every year.

Q: Are there any decent alternatives?

PAUL: First, let me say from experience: It’s devastating to watch a loved one face late-life health issues and struggle to pay for assisted living facilities, nursing homes, or in-home care. Anyone who’s been through that understands the impact of such an event on a family – emotionally and financially.

Q: It’s upsetting.

PAUL: Very. And unfortunately, people – through the best of intentions of trying to protect their family and heirs – may rush into long-term care insurance. They make an emotional decision and end up costing themselves thousands of dollars.

Q: How can people avoid this mistake?

PAUL: Having watched this field for over a decade I can report that in the last few years the insurance companies have done a good job of listening to consumers and improving their long-term care offerings. As a result, there are affordable policies today that have guaranteed premiums and benefits.

Q: That’s good news.

PAUL: That said, this is still a highly specialized field that requires specialized knowledge. Ian and I searched high and low to find an expert who can guide and advise our clients and protect their interests. A couple years ago we finally found a person who we believe is the foremost expert on long-term care planning in the USA. Clients rave about him, his kindness, his thoroughness, and – most important – his ability to find affordable solutions.

Q: Can people search for him online?

PAUL: He doesn’t accept clients from the ‘general public.’ He only works with referrals from a select group of advisors around the country – attorneys, CPAs and retirement professionals. We’re lucky to be one of these firms. Through our affiliation, clients get access to multiple options from almost every major insurance company in the market. His exhaustive approach gives our clients a wide range of affordable choices – including hybrid policies.

Q: How do men and women best plan for their long-term care needs?

PAUL: If LTC is something you’re considering, I’d suggest taking advantage of our free consultation before making a decision. We have important information you should see. It could save you – or your kids down the road – thousands of dollars. Or at the very least, it will make you a better-informed consumer. Call or fill out the form below to schedule your appointment.