Shows
Preparing For Tomorrow podcastA Christmas song from Paul & Diane StoddartWe recorded "It Came Upon a Midnight Clear" along with a few other classics about 15 years ago. My husband, Paul, is the guitar master, and I am playing flute. Please enjoy, and share with those you care about most as you gather to celebrate this week. As Christians, our family is celebrating the birth of our Savior. Whatever you celebrate this season, do so with love and joy in your hearts. If you're weary, lay still and hear the angels sing as they bring peace throughout the world. I pray for blessings over each of you today, and into 2026 (and...
2025-12-2401 min
Preparing For Tomorrow podcastWhich hybrid plan do I recommend most?It seems that with nearly every person or couple I work with, a version of this question comes up. Which plan do I recommend most often? Although all LTC plans are similar in how to qualify for benefits, each company and even each plan within a company carries unique attributes to that are attractive to various wants and needs of interested buyers.. This week, Diane shares different/unique characteristics offered inside hybrod life/LTC plans. The premiums can't be too high or too low compared to the competition, or one company will get far too many applicants (leading to many...
2025-10-2313 min
Preparing For Tomorrow podcastWho's your quarterback? What's your defense?It's football season! This week, Diane compares football to LTC planning. Every team needs a quarterback, position players and a strong defense. We also need depth - a back up plan in case something or someone isn't the right fit for our needs. We need strategies and gameplans so we are prepared for tomorrow. The most difficult part of LTC planing is we never know what we're going to need to defend against or when we need to be ready to defend. No one is sending a schedule in advance, so we need to prepare today to have the best...
2025-09-1809 min
Preparing For Tomorrow podcastQuestion 3 - What is an Elimination Period?Estimate LTC insurance premiums here: https://23149698.hs-sites.com/individual-calculator Ask a question here: https://calendly.com/diane-p4t/15min Listen to more podcast episodes here: https://preparingfortomorrow.libsyn.com/ What your state let's you keep: https://gotltci.com/2025/01/what-your-state-lets-you-keep/ Schedule a phone or Zoom meeting here: https://calendly.com/diane-p4t/60min
2025-01-2311 min
Preparing For Tomorrow podcastQuestion 1 - What does LTC insurance pay for?Schedule with me at https://calendly.com/diane-p4t/60min Ask a question at https://calendly.com/diane-p4t/30min Website: https://preparing4tomorrow.com/ Podcast episodes: https://preparingfortomorrow.libsyn.com/ What your state let's you keep: https://gotltci.com/2024/01/what-your-state-lets-you-keep/ Cost of Care estimator: https://www.genworth.com/aging-and-you/finances/cost-of-care
2025-01-0910 min
Preparing For Tomorrow podcastWhat are the biggest mistakes people make when considering LTC insurance?I an still catching up after two hurricanes came through Florida this month,m so I am replaying this episode from August 10, 2021. Kristina asks about mistakes people make or things people fail to consider when planning for future long term care needs. There are several, but three stand out to me as I have worked too often with people who looked at options many years ago and are looking again today. Others planned ahead but didn't consider future costs in their strategy. We also need to consider that, the longer we wait, the more likely a chronic health condition may...
2024-10-1712 min
Preparing For Tomorrow podcastWhat questions do we get most often?This week, my husband, Paul, asks me multiple questions that we get quite often. I'm guessing you've asked at least one of these questions if you've been considering LTC insurance to protect your family from an extended care need. Please email me additional questions you may have, and I'll be glad to answer you. I may even use your question for a future episode. In fact, I challenge you to ask me a question I've never heard before. Diane@preparing4tomorrow.com Schedule time to strart designing your plan at https://calendly.com/diane-p4t/30min
2024-08-0110 min
Preparing For Tomorrow podcastWhy is it important to work with a LTC Planning Specialist?There are many professionals from whom you can purchase LTC insurance, but an LTC Planning Specialist is going to have the most knowledge and training about all the options that can be available based on unique needs of each person or family. This week I'm sharing what to watch out for when you work with different kinds of professionals. I'm not saying that every representative who does not specialize in LTC will not do a good job. I'm sharing things to watch out for because this is one of the most important decisions you'll make regarding your family's future. You...
2024-07-2513 min
Preparing For Tomorrow podcastWhat if I die before using all my LTC benefits?Teresa wants to know what happens to any LTC benefit money she doesn't use. There are plans that pay your family back if no care or little care is needed, but that's not why we buy insurance. Insurance by definition is a guarantee against the risk of loss or harm. We buy insurance in caswe we need it. Any help our family gets will more than likely be accepted with gratitude. Without outside help, caring for someone is a full-time job in itself. Then we need to take into account all the other stuff that needs to be managed. The...
2024-07-0409 min
Preparing For Tomorrow podcastMy lifetime of mistakes that you shouldn't make - really only 3 of themThis week, you just need to listen and learn from my mistakes. Some I made as a kid, and the most recent was over the last few years. I didn't want to seem intrusive when that is exactly how I should have been. Now, I am just sad. Sad that I didn't do what I've been encouraging you to do. I tried, but I didn't try hard enough. If you need caregiver support, go to https://www.tcare.ai/about/about-tcare The Alzheimer's Association has support info at https://www.alz.org/help-support/community/support-groups Schedule time with me to...
2024-06-1210 min
Preparing For Tomorrow podcastPension Protection Act - create tax-free LTC income using taxable gains on non-qualified annuitiesThis week, Diane shares how the PensionProtection Act passed in 2010 makes it possible to 1035 exchange non-qualified annuities into various LTC plans that generate tax-free income for extended care needs. Not all annuities are tax-free for LTC. LIsten and learn how different rules apply to different annuity forms. If you or somone you know has an annuity that they don't want to use due to many years of taxable earnings when withdrawn, consider 1035 exchanging that into an LTC annuity with tax-free income for long term care. If care is never needed, the annuity is passed to beneficiaries just like other annuities...
2024-05-2913 min
Preparing For Tomorrow podcastIs the LTC plan my company is offering the same as one I can buy on my own?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 diane@preparing4tomorrow.com Schedule 30 minutes with me to inquire https://calendly.com/diane-p4t/30min
2024-03-2713 min
Preparing For Tomorrow podcastQuestions we can't answer today need to be addressed anywayIn 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: https://calendly.com/diane-p4t/60min Email me to receive a planning guide diane@preparing4tomorrow.com
2024-03-2011 min
Preparing For Tomorrow podcastThe LTC plan everyone needs - with or without insuranceLong 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 your family and loved ones will have...
2024-03-1316 min
Preparing For Tomorrow podcastBaseball and Long Term Care - What league are you in?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 that when we plan early, and do the work it...
2024-02-2814 minPreparing For Tomorrow podcastCan I stop/pause benefits after I start using my LTC insurance?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 choices. You can schedule time to design your plan to protect...
2023-12-1313 minPreparing For Tomorrow podcastWill you review my LTC policy and tell me if it's right for my needs?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 tremendously as our population ages and needs help living...
2023-12-0613 min
Preparing For Tomorrow podcastLTC Awareness Month - Caregiver strain - MONEYLong 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 the budget! As we start to take time off from work...
2023-11-0808 min
Preparing For Tomorrow podcastWhat are consequences of waiting to buy?Joanne in Alabama wants to know what are the potential drawbacks to waiting to buy LTC insurance. There are several, but one has more severe consequences than the others. Ask your question from the Contact Us tab at www.preparing4tomorrow.com Schedule time with me to learn how to prepare today and avoid these consequences tomorrow. https://calendly.com/diane-p4t/60min
2023-10-1109 minPreparing For Tomorrow podcastDon't do this to your kids!!!This episode is from 2022, and Diane shares stories from her family and from clients who have shared with her over the years. These are things our parents have done that caused much stress to the whole family, and they are things that could have been avoided if parents were really thinking about the consequences of their decisions (or non-decisions). We need to learn from the mistakes of others and use this knowledge to get this right when it's our turn to need help living. Over half of us will need some kind of help as people are living longer. Someone...
2023-10-0417 minPreparing For Tomorrow podcastWhat can I do if my LTC company raises my premium?When a traditional LTC plan's rates are increased, it's vital to seek out an expert to learn options rather than just get angry. This week, Diane shares how her clients, Jim & Linda, can avoid future rate increases and still keep meaningful LTC coverage. Protecting our family, assets and choices are more valuable as we hope to age in place during our final years. If you or a parent receives a letter stating that their LTC premiums are increasing, let me help you determine the best course of action. Schedule some time with me at https://calendly.com/diane-p4t/30min...
2023-09-2712 minPreparing For Tomorrow podcastWhy do you need to know my financial information to get me a quote?Thomas in New Mexico wants to know why sharing his financial details is needed to run a quote for LTC insurance. Diane offers multiple reasons why it's important to understand how you expect retirement to be like in order to determine the best way to protect your family and your savings with LTC coverage. We may uncover a way to pay for coverage without impacting your monthly budget. It's important to work through ideas to learn the wisest way to be Prepared for Tomorrow. Schedule some time to start working on your LTC plan at https://calendly.com/diane-p4t/60...
2023-09-2013 minPreparing For Tomorrow podcastWhat does Tax-Qualified mean?Kevin in Colorado asked what a tax-qualified LTC plan is and wants to know how a tax qualified LTC plan can benefit his family. Diane shares when tax-qualified plans were put into effect and how they benefit consumers and business owners when both paying premiums and receiving benefits. Thank you in advance for sharing this with those you care about most. In 2023, 100% of LTC premiums are tax deductble for a C corporation. S corporations, self employed, and partnerships can deduct amounts based on age Age
2023-09-1311 minPreparing For Tomorrow podcastShould I include inflation protection in my LTC plan, even at the higher cost?Irene in Nebraska wants to know if she should include inflation protection on her LTC plan, at a significantly higher cost. The real decision is to either pay more for insurance by adding inflation growth or pay more out-of-pocket for care at claim time. Nursing home costs have averaged a 5% annual increase in cost over the last 30 years! Diane shares how inflation protection works and how plans with the rider help so much more when care is needed She shares how her mom-in-law's plan had grown over 25 years and the value it provided during her home care journey since April, 2020...
2023-09-0614 minPreparing For Tomorrow podcastCan the cash value in my life insurance be used to fund a LTC plan?Matt listened to last week's episode about using an annuiy to fund LTC insurance and wants to know if life insurance values can also be transferred to fund a long term care plan. The answer is yes, and Diane shares how a 1035 exchange can help reduce or eliminate premiums. With Matt's new plan, both the LTC benefits and the death benefits are 100% tax-free and won't impact any tax obligatio9ns or future Medicare premiums. If you have cash value built up in your life insurance policy, and your financial risk of needing extended care is greater than the financial loss...
2023-08-2310 min
Preparing For Tomorrow podcastCan I use an annuity to fund my LTC plan and avoid taxes?This episode was originally published in May, 2021. Diane shares how she helped Tom and Kay use a 20 year old annuity to design a long term care plan that pays tax-free benefits for care or pays your family back if care is never needed. If you recall, interest rates were much lower in 2021 than they are today after the Fed raised rates multiple times this year. There are more companies offering annuities with LTC benefits worth three, four or five times the cash value of the annuity. If you have a non-qualified (non-IRA) annuity that has been earning interest for several...
2023-08-1611 minPreparing For Tomorrow podcastCan I use my IRA to fund an LTC plan for my spouse?Rick in Vermont will need to start withdrawing $50,000 annually from his IRA the year this was recorded. He already owns LTC insurance and wants to buy a plan for his wife. He wants options to use his IRA to pay for her insurance. Diane shares why they contacted her and how she's helping them prepare for tomorrow. Don't let an unscrupulous agent trick you into "seeing what you can qualify for" without telling you that they are applying for insurance. There are numerous consequences in this circumstance, they worst of which would be a decline on your health history, which...
2023-08-0912 min
Preparing For Tomorrow podcastHow is long term disability insurance different than LTC insurance?In this episode, Melanie Erb-Wokurka with Juice Plus in Tampa, Florida, wants to know how LTC insurance is different than the long term disability plan her company is offering. Listen as Diane shares how the products are different and where each fits into our planning puzzle. For asking, we'll send Melanie a gift to say thank you for helping listeners understand what to consider when preparing for tomorrow.
2023-08-0211 min
Preparing For Tomorrow podcastIs it worth it to wait for better health?This week, I ask you a question rather than the other way around. What consequences are there to waiting to buy LTC insurance that you may not have considered? Many people want to wait until they are at optimum health or until they fit in those old jeans before they apply, thinking that a better health and build will lower their premiums. Insurance companies can release new plans or adjust discounts when they see the need, and when states approve the changes. If you're considering LTC coverage, sooner is almost always better than later. Thankfully, my husband and I bought...
2023-07-2611 minPreparing For Tomorrow podcastWhat are some pitfalls to watch for when considering LTC coverage options?Beth in Tampa, Florida asks another great two questions! She wants to know what are some critical or costly "items" that may not be covered by LTC insurance. Diane shares how LTC insurance works and what to pay attention to when planning and also when opening claims so you can be sure to get the most from your plan. Use the Genworth Cost Of Care site to find bot tody's costs and projected future costs of care anywhere in the United States at https://www.genworth.com/aging-and-you/finances/cost-of-care.html Schedule a zoom or phone meeting with me to...
2023-07-1814 minPreparing For Tomorrow podcastPrepare Today to Celebrate Independence TomorrowThis week, Diane shares how LTC insurance can help us to remain independent and maintain our freedoms. Eleanor Roosevelt said, "With freedom comes responsibility". When we have a plan for when life doesn't go as planned, we give ourselves permission to live out our retirement years the way we choose. We won't have to wonder if we have enough money set aside to pay for extended long term care needs because we already have a bucket of tax-free money dedicated for that purpose. Connect with Diane to customize a plan to protect your freedom, family, assets and choices. Celebrate safely...
2023-07-0410 minPreparing For Tomorrow podcastFebruary Case Study: What if I was declined?Meet my client who was declined several years ago for LTC insurance. Learn what options she has today to protect herself, her family and her assets from the risk of needing long term care at home, in assisted living or wherever care is needed. Once a decline is in your history, it's important to know which companies are more likely to approve an application. Ask me, I can help you find answers. The episode was fies published in February, 2022, and more tax-free LTC products have been released in several states since then. The LTC insudtry is continually searching for better...
2023-06-2814 minPreparing For Tomorrow podcastHow long will I have to pay premiums?Kim in California wants to know how long premiums will need to be paid on a LTC policy. You decide that, based on what your income and asset levels are today and will be throughout retirement. Some plans use lifetime premiums, while others offer shortened pay and single deposit options (like getting a 15 year mortgage vs. a 30 year mortgage). Which is right for you? When designing a plan, it's important to also design a sustainable funding strategy. Let's figure this out together as we create predictable outcomes for unpredictable situations. I can help in all 50 states. Schedule with me at...
2023-06-0814 minPreparing For Tomorrow podcastWhy is it important to have dedicated funds for care?This is one of my favorite past episodes. This is from January, 2022, and my friend that I share here is now paying $18,000/month for her mom to live in memory care. Mom is healthy, other than her mind being absent most of the time, so we have no idea how long she will live there. But, as of now, her kids are spending over $200,000 annually from her investments to pay for care. Losing their inheritance is not the primary concern. Taking care of mom is. But as the accounts rapidly deplete for the cost of care, and the higher tax...
2023-05-1013 minPreparing For Tomorrow podcastCan we buy a small LTC policy today and add more coverage later?This week, Diane shares three things we need to consider if we are designing a long term care plan with multiple policies purchased over multiple years. Age, health and insurance industry and company changes could cause us to pay a lot more for coverage later. Or we may end up not eligible to buy additional coverage when we want to. However, if we absolutely have to build our plan in pieces, and if some event or industry change occurs that prevents us from doing so, at least we have some coverage in place that will help our family help us...
2023-04-2612 minPreparing For Tomorrow podcastExplain the phrase "protect assets equal to benefits paid"Jeremy in Minnesota asked Diane to explain the phrase "protect assets equal to benefits paid". This is referencing the federal LTC Partnership Protection Act, and Diane explains how this law works to protect the middle and upper middle class from financial destruction when an exhaustive extended care needs show up. Partnership protection is approved in 44 states. In this episode, Diane shares how a Partnership qualified LTC policy protects assets and eases stress throughout the family. Jim & Holly don't own a plan, while Pete & Jan do. Listen and learn how Pete's Partnership qualified plan allowed Jan to not deplete assets that...
2023-04-0513 minPreparing For Tomorrow podcastSame premium; very different tax deductionsThis episod is from April 2022, and Aaron in Ohio was seeking tax deductions for his corporation. He brought me a quote to review, and we found that using the exact same premium amount, how three different tax deductions can be designed just by moving some variables. There are multiple ways to design a plan to create different results. When I work with my clients, I ask a lot of questions, and we work together to desing plans customized for each family's unique situation. During tax season, we are all seeking deductions. Reach out to me at diane@preparing4tomorrow.com...
2023-03-1514 minPreparing For Tomorrow podcastWhat tax deductions are available with LTC insurance?As we are all working to file our business and personal income taxes by March or April, I thought I would bring this episode back as we are always seeking more tax deductions. LTC insurance may be tax deductible, depending on how you file your taxes - as an individual and as a business. This episode is from July, 2020, when our tax deadline was moved to July due to COVID. The numbers are from 2020, but the principle stands. in 2023, if you file as a w-2 employee, you 'll need to meet 7.5% of your adjusted gross income in medical expenses to...
2023-03-0808 minPreparing For Tomorrow podcastIf I have enough money, do I really need LTC insurance?BuddyIns is holding a webinar on March 23rd at 1 PM eastern to discuss this very topic with LTC guru Phyllis Shelton. Email me at diane@prepating4tomorrow.com, and I'll send you an invitation to register and attend. If you register and can't attend, a link will be sent to you to listen at your convenience. There are many ways to reply to this question, and I may end up replying again over the next couple of weeks. Today, we are talking about family. When we buy LTC insurance, we are not really buying it for us. We buy it...
2023-03-0214 minPreparing For Tomorrow podcastRecap 2022 and Welcome 2023!Happy New Year! Let's welcome 2023 with the mindset of being prepared for our tomorrows. Schedule that family meeting, whether it's to work with me to design a plan, to discuss your LTC plan with your family, or to implement and manage a care plan for yourself or a family member. This week, Diane shares some relevant topics in the LTC world that came to fruition in 2022. And she also discusses what we can expect going forward into this year. Many people are realizing that they don't want the same plan their parents have, which too often is spend all your...
2023-01-0410 minPreparing For Tomorrow podcastIRS rules change; client adds second plan to offset taxesThis week, Diane shares a case study of her clients, Mark and Sharon. They started planning at ages 61 and 60. They thought they had done all they could with LTC planning, and then the SECURE Act was enacted in 2020. There were now serious tax concerns when their kids inherit their IRAs. Mark wanted to know if there really is a plan that can be funded with IRA dollars to create tax free death and LTC benefits and help their kids with the new tax rules requiring inherited IRA's to be fully liquidated within 10 years. There really are plans that help with...
2022-08-1011 minPreparing For Tomorrow podcastBonnie said "That's not enough!"Bonnie bought LTC insurance over 20 years ago and thought it would be enough to cover her future needs. We discussed adding an inflation rider to keep up with costs, but she didn't want to pay the higher rate. Today, when she needs help with dementia, her plan will pay for 5 hours of home care a day. Compare that to my husband's mom's plan that paid for 10 hours per day and still wasn't as much as she wanted either. If you take anything from this episode, I hope it's "Don't skimp!" Your future self and your family need you to plan...
2022-06-0813 minPreparing For Tomorrow podcastWhen should a 31 year old be adding LTC to their retirement plan?This week, our 31 year old son asked when he should be adding LTC coverage to his retirement plan. Diane shares things to consider when planning to be sure you can both qualify and afford LTC insurance. 11 states are working on creating a mandatory LTC tax. As of today, it looks like the only way to avoid the tax is to not be working or to own your own private LTC plan. Washington state has already done this. The other states currently working on a tax plan are CA MI CO MO NY VT OR HI MN IL and NC. California...
2022-05-0414 minPreparing For Tomorrow podcastApril is tax season - learn what laws are in place to reduce taxes and protect assetsBecause I included a case study in last week's episode, go back and listen to Aaron's options for a plan to provide LTC and also reduce his tax obligations. This week, listen and learn about two laws that have been enacted, LTC Partnership Act and Pension Protection Act, to help consumers preserve assets and let insurance companies create tax reducing strategies for policyholders. Contact me for guidance and plans to meet your unique needs at diane@preparing4tomorrow.com
2022-04-1313 minPreparing For Tomorrow podcastInterview: Angelett Johnson with Small Assisted Living CoalitionThis week, Diane and her guest, Angelett Johnson with Small Assited Living Coalition, share how having a guide, a plan and a team to help us live safely when we can no longer care or provide for ourselves. Visit www.smallalfcoalition.com to learn more about how they can work to help families help their loved ones better.
2022-03-2215 minPreparing For Tomorrow podcastMarch Case Study - which benefits should Nancy select?Nancy found a cash indemnity hybrid LTC insurance plan that will pay her daughter and pay for licensed professional care if needed. She just needs to decide if whe wants a larger and level LTC benefit or if she wants to start small and grow the benefits over time. Listen to her options and email me at diane@preparing4tomorrow.com to share what you think she would choose, or what you would choose. We'll learn next week of her final decision
2022-03-0915 minPreparing For Tomorrow podcastIs there an LTC plan that I can use to pay my daughter and for professional care?Nancy is moving into an addition her daughter has added onto their home for her. She wants a long term care plan that can pay her daughter to help her or pay for professional care at home or in a facility. She wants to know if there are plans that do both. The answer is yes, and Diane shares several options for cash indemnity LTC plans available for Nancy as she prepares to protect her family from having to sacrifice to provide for her if extended care is needed.
2022-03-0215 minPreparing For Tomorrow podcastInterview: Kelly's dad prepared for his tomorrow so she could still have hersDiane interviews Kelly Stuart Williams with Pegasos Public Relations and learns how her parent's LTC insurance helped Kelly and her kids manage two parents' needs with two different forms of dementia. Without a plan, the family could have and would have been thrown into a medical, financial, physical and emotional catastrophe. Dementia is a big problem already, and having financing and resources from their insurance helped to lessen some of the negative impact of these needs. Kelly knows her parents loved her, and that they prepared so she could build and grow her marketing business while raising her kids to...
2022-02-2216 minPreparing For Tomorrow podcastLove is letting our family manage our care rather than provide care when LTC is neededThe best Valentine's gift you can give your family is a plan for when you need extended care. The National Alliance for Caregiving and AARP recently published "Caregiving in the U.S. 2020", and Diane shares some of their statistics on unpaid caregivers. When you own LTC insurance, you are helping your family to be care managers rather than care providers. Let paid workers do the work while your kids and family can continue their lives and careers while overseeing your care needs. Love IS being Prepared for Tomorrow!
2022-02-1512 minPreparing For Tomorrow podcastWhat if I'm not sure what benefits or what company I want?Marilyn in New York thinks she knows what amount of LTC benefits she wants, but she's not sure. She's also concerned that the company she wants won't accept her. She wants to know what people do when in this predicament. What steps can we take to ensure we have the right amount of benefits with a company that is most likely to approve our application? Diane shares her insight and experice in these situations.
2022-02-0212 min
Preparing For Tomorrow podcastInterview with Psych-K facilitator and author Judy KaneDiane interviews Judy Kane, Psych-K facilitator and author of "Your 4 Truths: How beliefs Impact Your Life". Judy coaches her clients to quickly recognize and adjust false beliefs and to perceive new truths that can help them to make better every day and life decisions. When planning for future LTC needs, it's sometimes difficult to make decisions about things we don't want to happen. We learn from Judy how to see what is preventing us from making decisions about our own future while we design a roadmap for our family to follow.
2022-01-2512 minPreparing For Tomorrow podcastIf one company declines me, will all other companies do the same?We're making some changes. We'll still answer one question each month, and in the following three weeks, Diane will share case samples of client's she has helped, how LTC insurance is really not for us but for our families - to help them navigate our LTC crisis, and we'll bring back one guest in a related field each month. This week, Carla was declined by a company recommended by her bank and wants to know if every company will now decline her. Please listen, like, share and subscribe. And check out Podnods to hear more valuable podcasts that they are...
2022-01-0409 min
Preparing For Tomorrow podcastIf I have enough money, do I really need LTC insurance? Part 3This week, Diane shares that assets don't pay for LTC needs; income pays this as LTC services create a bill, or invoice that must be paid weekly or monthly. If we don't have enough income, we need to sell assets to create income. Diane shares some of the financial consequences when we rapidly start selling assets to fund an extended care need.
2021-12-1412 minPreparing For Tomorrow podcastIf I have enough money, do I really need LTC insurance? Part 2This week, Diane discusses why covering the "average" 2.5 year LTC need may not be enough to protect your family. 500,000 families will be hit by Alzheimer's disease in the next 12 months, turning their whole family upside downin an instant. People with Alzheimer's live anywhere between 3-11 years, and sometimes for 20 years or more. Today, dementia care can cost more than $10,000/month. How long can our families support this need? The time for planning is before something happens!
2021-12-0814 minPreparing For Tomorrow podcastHow does the Alternate Plan of Care work?This week, Susan in Minnesota wants to know how the Alternate Plan of Care clause works in a long term care policy. Diane first shares what a Plan of Care is and then shares some examples of when the alternate plan of care clause helps both the carriers and the policy holders. Some contracts include this clause and some don't. It depends on what type of plan you have and when it was placed in force. Read your policy. Ask me for help if you don't understand what it says.
2021-11-1010 minPreparing For Tomorrow podcastDoreen's last chapterIt's been a rough couple of weeks since Paul's mum went to be with the Lord, but we're both getting through this and getting from this season. Diane shares how the last several months have been and how having a long term care insurance plan in place helped the whole family as we worked to honor Doreen's desire to live at home to the end...it almost happened because she had a plan and two goals - to not burden her son and to leave him her legacy. Today, we cry and smile through treasured memories.
2021-11-0210 minPreparing For Tomorrow podcastWhy can't I just get a quote online like with other insurance?LTC insurance is not like any other insurance as we need to work with so much uncertainty when designing a plan. With property insurance, we assess and insure the value of the property. Health insurers have tremendous negotiating power to keep costs down when we go to the hospital. LTC insures and pays what we as individuals have contracted them to pay. Diane shares what decisions go into planning so each family can obtain coverage that is meaningful to their unique needs, usually 20-40 years from the date of purchase.
2021-10-1314 min
Preparing For Tomorrow podcastWhat does Contingent Non-Forfeiture mean? Is it on every LTC plan?hat does Contingent Non-Forfeiture mean? Is it on every LTC plan?Welcome to season 3!!!! Steven in New Jersey asked about contingent non-forfeiture. He wants to know if every LTC plan has it. Diane shares what both the contingent NF rider is as well as the optional NF rider that you can add to a traditional Tax-Qualified LTC plan. Hybrid or linked benefit plans have a cash surrender value rather than non-forfeiture. Listen and learn how they differ, and how this all works when used.
2021-10-0514 minPreparing For Tomorrow podcastWhat is Restoration of Benefits? What other optional riders are available?There are optinal benefits with many LTC plans. How do they work and which are more useful and useble than others? Diane shares optional benefit options that used to be offered and also which ones to consider seriously if you are planning today. Please join us on Thursday, Sept 9th at 10 AM pst/1 PM est for a Zoom webinar "Women and Long Term Care" we will be addressing many questions that women have about LTC and LTC insurance. Register here https://www.buddyins.com/webinar/register/?partner=diane@preparing4tomorrow.com
2021-09-0715 minPreparing For Tomorrow podcastWill using the LTC benefit decrease the death benefit? How?Nicole wants to know how using the LTC benefit will affect the death benefit in a life/LTC combo product. Diane shares some different ways the insurance companies design these plans and how they pay. Plans and benefits need to match the goals of the policy owner and their family. Let's discuss what kind of plan will work best for you.
2021-08-2513 minPreparing For Tomorrow podcastCan I put my assets into a trust and ask Medicaid to pay for my LTC?Maggie wants to know if she can place assets into a trust and qualify for Medicaid to pay for LTC needs. That is a complex question, and Diane shares how that strategy compares to using LTC insurance to pay. Every strategy has advantages and disadvantages, and we need to carefully consider each when making these important decisions that can protect our family, assets and choices.
2021-07-1413 minPreparing For Tomorrow podcastCelebrate Independence!!!When life throws a curve ball, and completing common tasks becomes complicated, having a plan in place to help us live independently in our own home is more important than ever! Diane shares some of what she is going through personally and how people can be prepared for that tomorrow when help is needed. With LTC insurance,, we can honestly tell our families they can maintain their lives while our own LTC support system is there to help us stay independent.
2021-06-3009 minPreparing For Tomorrow podcastIf I don't need care for 30 years, how do I choose a company today?Beth with the Community Food Pantry in Tampa, Florida, wants to know how to be sure that a company today will be her best option for LTC coverage in 20-30 years. Diane shares some history in the LTC industry that will help people be confident with their choices.
2021-06-2213 minPreparing For Tomorrow podcastI'm only 28 and need to opt out. What can I do?Washington state has a mandatory LTC tax, and to opt out you need to have your own LTC insurance in place by 11/1/2021. LTC insurance companies aren't accepting applications under age 30, so what tools are available for a 28 year old? Diane shares details on the tax, why insurers are concerned, and what young people can do to both avoid the tax and protect their families from extended care needs.
2021-06-0217 minPreparing For Tomorrow podcastHow do I qualify for a preferred health discount?This week, Janna in Kansas wants to know how to qualify for the best rates available for LTC insurance. Diane shares how insurance carriers view our health histories and our potential for needing LTC services in the future. She also shares stats of how many applicants qualify for the best health rates.
2021-05-1210 min
Preparing For Tomorrow podcastWhat does LTC insurance cost? Then I would know how much to getThis week, Jonathan in Kansas asked Diane to tell him how much LTC insurance costs so he would know how much he wants. Insurance is different from most other products in that we need to decide what we want before we determine the cost. It's not a cost per unit like a grocery product. Diane shares decisions that must be made to customize a plan to protect your family, choices and savings.
2021-04-2811 minPreparing For Tomorrow podcastHow long is a typical nursing home stay?This week, Gayle in California is asking how long people typically live in a nursing home. Diane shares that how care is funded often determines this answer. Whoever is paying the bill decides where we live. When that person is us or our own insurance, we can decide. When it's the state paying, we lose control and live where we're placed.
2021-04-1412 minPreparing For Tomorrow podcastWill Medicare payments for skilled care go toward my LTC elimination period?Jane wants to know if Medicare and other health insurance payments for skilled care services will count toward meeting her LTC insurance elimination period (EP). Listen as Diane describes the EP, how it works and who can pay it. Some EPs are set by the insurer, and some are selected when we apply for coverage.
2021-04-0711 minPreparing For Tomorrow podcastWhat's the difference between long term care and hospice care?This week, Lisa in Arizona asks about long term care services vs. hospice care services. Diane shares details of three types of care, custodial care, acute care and palliative care, where we see these and how they can work together in some scenarios. Each type of care can be funded from different sources, so it's important to understand these key differences.
2021-03-3112 min
Preparing For Tomorrow podcastCan I use my 401(k) to fund an LTC plan?This week, Bill asks if he can avoid paying taxes on 401 (k) withdrawals to pay for LTC insurance. Diane shares how tax-qualified accounts can be used to build tax-free long term care benefits. There are a lot of numbers in this episode, so you may want to listen twice to take it all in. The concept is more important than the numbers.
2021-02-2311 min
Preparing For Tomorrow podcastWhat happens when LTC insurance runs out?This week, Dawn Hudson with Bliss Wellness Market in Tampa, Florida, asks what happens if we still need help after our LTC insurance has been exhausted. Diane shares both what happens and how to be prepared if we outlive our coverage. For asking, we'll send Dawn a gift to say thank you for contributing to help us help others who don't know what to ask.
2021-02-1612 min
Preparing For Tomorrow podcastHow do I choose a home care agency?This week, Jackie in Pensacola, FL, asks how to select the right home care agency for her mom's needs. Diane shares several questions that need to be asked when interviewing agencies. Having LTC insurance allows us to choose where we live when we need help living. Most of us would choose "home" if given the opportunity. LTC insurance provides that opportunity.
2021-02-0210 min
Preparing For Tomorrow podcastIs all underwriting the same?This week, Steve in North Carolina wants to know if all LTC insurance companies use the same underwriting guidelines to determine eligibility. Listen as Diane shares how LTC underwriters use our health history to make decisions.
2021-01-2709 min
Preparing For Tomorrow podcastIs there affordable LTC coverage if I lost income/employment during the pandemic?This week, Carmen Palogruto with Cruise Planners asked what LTC options are available for people rebounding from a loss of income or a job loss due to the pandemic. Listen as Diane shares some ideas on how to build plans over time.
2021-01-1309 min
Preparing For Tomorrow podcastWill a revocable trust protect my estate when LTC is needed?This week, Norman in Florida shared that he and his wife recently updated their revocable trust and wants to know if that will protect their estate if long term care is needed. Listen as Diane shares some insight about trusts and LTC plans. Full disclosure, Diane is not an attorney, but she works with many when designing plans for her (and their) clients. As a thank you, we'll send Norm a gift for asking.
2021-01-0610 min
Preparing For Tomorrow podcastThankful to move on to 2021Diane shares what's changed in the LTC industry in 2020. How are consumers responding to these changes? How does the Secure Act affect our LTC planning and funding strategies going forward?
2020-12-2913 min
Preparing For Tomorrow podcastCan someone age 81 get LTC coverage?This week, Sharon and her daughter Michelle want to know if there are any insurance options for a healthy 81 year old. Listen to Diane's reply and ask your questions so we can continue to help others learn how to Prepare For Tomorrow. Merry Christmas to you and all whom you hold dear in your hearts.
2020-12-2209 min
Preparing For Tomorrow podcastWill LTC insurance pay for home care only in my own home?This week, Joy asks if she can use her LTC plan to pay for home care if she lives somewhere other than the home where she currently resides. Specifically, she wants to move to a Continuing Care Retirement Community (CCRC). Diane shares how LTC insurance pays for home care services. What questions do you have? When you ask, you are helping us to help others who also want to learn how to protect their family from the immeasurable cost of an extended care need.
2020-12-1508 min
Preparing For Tomorrow podcastWhat's the benefit of a single pay linked benefit plan?This week, Diane continues answering Jennifer's question from last week and discusses single pay linked benefit or hybrid plans. There are multiple companies that offer these plans, and they all look a little different. For time's sake, we only discuss one company and one combination of benefit options here. Go to www.preparing4tomorrow.com to request a free consult from the Contact Us tab to learn if and what options are best to protect your family.
2020-12-0109 min
Preparing For Tomorrow podcastWhat's the benefit of a single pay LTC plan?This week, Jennifer in Illinois inquires about the value/benefit of a single pay LTC plan. There are a few advantages to paying a lump sum up front, which Diane shares in this week's episode. For asking, we'll send her a gift to say thank you for helping us help others. Ask your question at www.preparing4tomorrow.com and we'll send you a thank you gift as well.
2020-11-2513 min
Preparing For Tomorrow podcastIs there a plan that can help my wife, who is in a wheelchair?This week, Don wants to know if there is an LTC plan that can help his wife, who is not eligible to buy her own policy. Diane shares options that can help Don's wife when he is on claim so that both of them can access his benefits. For asking, we'll send Don a thank you gift. Ask your questions at the Contact Us tab at www.preparing4tomorrow.com and we can send you a thank you gift as well.
2020-11-1710 min
Preparing For Tomorrow podcastWhat is an elimination period? How does it work?This week, Mike in New Jersey asked how the elimination period works. Is it cumulative? Do I have to pay it every time I access LTC benefits? Diane affirms that many people are confused by the elimination period in a long term care insurance plan, and she shares how it is different than other deductibles used in other types of insurance. We'll send Mike a gift to thank him for bringing important questions and answers to our listeners. Ask your question at www.preparing4tomorrow.com so we can thank you, too.
2020-10-2711 min
Preparing For Tomorrow podcastWhy is there a waiting period if I change medication?This week, Liann in Tampa, Florida, askes why she has to wait to apply for LTC insurance because her doctor recently adjusted the dosage of a medication she takes. Diane shares why stability is important to the insurance companies and why waiting a few months can help us obtain a favorable decision, ie: approval for coverage.
2020-10-2108 min
Preparing For Tomorrow podcastPain is the MotivatorThis week, Diane talks with Dr. Tommy Lane with Lane Family Wellness & Chiropractic. He shares that pain is the motivator for people to come see him. We wait until life is disrupted and then want a quick fix. Wellness care involves maintenance to prevent acute pain from becoming chronic. Planning for future LTC needs is similar in that we naturally want to wait to spend money on something we hope never happens. In both cases, waiting creates bigger problems and bigger expenses.
2020-10-1429 min
Preparing For Tomorrow podcastHow much is enough LTC insurance?This week, Trish asks how much is enough insurance when LTC is needed. Diane shares some planning ideas she works through with her clients to determine just how much is enough. For asking, we'll send Trish a thank you gift. Ask your question at www.preparing4tomorrow.com using the Contact Us tab.
2020-10-0611 min
Preparing For Tomorrow podcastYou Drive...We NavigateThis week, Diane shares her process to understand her clients and help them navigate through a somewhat confusing assortment of options when designing a long term care plan. She interviews Renee Brunelle with Pathfinders Downsizing Solutions and explores how to best transition from home to a senior living environment that still feels like home.
2020-09-2332 min
Preparing For Tomorrow podcastSeek an ExpertThis week, Diane shares why it's important to seek out an CLTC professional when considering our LTC planning options. She welcomes Jennifer Jenkins with Rooted Holistic Health back to help us learn how to find answers based on facts rather than opinions, and to understand why we need to prepare for a long life.
2020-09-0227 min
Preparing For Tomorrow podcastIs there an overlap with Medicare and LTC insurance?This week, Ron & Gloria ask if there is any overlap between what Medicare pays for care and what LTC insurance pays. People often get confused in this area, and Diane answers with an example from her own family. Thanks Ron & Gloria! Your thank you gift is on the way! Ask your question in the Contact Us tab at www.preparing4tomorrow.com
2020-08-2513 min
Preparing For Tomorrow podcastCan my spouse use my plan if I don't?This week, Joe in Orlando asks if his wife can use his LTC plan if he never needs extended care. Diane shares multiple options that let spouses share benefits. We're sending Joe a thank you gift for asking. Ask your question at www.preparing4tomorrow.com or during the Q&A part of our Zoom webinar this Saturday at 9 AM. Use the Contact Us tab to request a link
2020-08-1207 min
Preparing For Tomorrow podcastPrepare to be generousThis week, Diane shares how her client, Bob, used LTC coverage to create dedicated funds for care so he can be more generous with the rest of his portfolio and never wonder if he has enough to do both. This is also Part 2 of the Bridging Freedom interview where we learn of success in the program and how we can generously help Laura Hamilton walk with rescued girls over a bridge to freedom.
2020-08-0526 min
Preparing For Tomorrow podcastBuilding BridgesThis week, Diane interviews Laura Hamilton and Alan Wilkett with www.bridgingfreedom.org They discuss the Bridge that God has helped them build to help young girls rescued from sex-trafficking right here in our community. Diane also shares an LTC funding strategy that young retirees can use to build a tax planning bridge to cross successfully from early retirement to full social security (age 70) and RMD age (age 72)
2020-07-2925 min
Preparing For Tomorrow podcastWhen caregivers get help helping...This week, Diane interviews Mark Hamid with FirstLight Home Care. Mark has licensed caregivers helping Diane's mom-in-law currently, and it is such a blessing for the whole family. Diane shares how when families have help caring for a parent or loved one in an extended care situation, everything is a little bit better. Families stay whole and together during uncertain times.
2020-07-0131 min
Preparing For Tomorrow podcastQuality of LifeThis week, Diane interviews Dr. Tommy Lane with Lane Family Chiropractic & Wellness. They discuss how making wise choices today and developing good habits today can help us to stay in control of the quality of our lives during our later years.
2020-06-0333 min
Preparing For Tomorrow podcastYou have questions...we have answers...AgeThis week, Diane answers a question from Paul in Wellington, Florida. To ask a question, click on "Contact Us" at www.preparing4tomorrow.com If we use your question in an episode, we'll send you a thank you gift for asking. Thank you Paul.
2020-05-0607 min
Preparing For Tomorrow podcastBetter...Calmer...More RestfulIn this episode, Diane interviews Michael Maniscalco with Your CBD Store in Carrollwood (Tampa) Florida. We discuss how quality CBD can help with stress, sleep, pain and aging. Diane shares how long term care insurance is helping her mom-in-law right now to be able to stay home with quality care provided by licensed, bonded, and trustworthy CNAs. With insurance, our family has less stress and better sleep knowing that assisted living and nursing homes can be avoided during the COVID-19 pandemic. God willing, mom can stay at home for the rest of her life!
2020-04-2931 minPreparing For Tomorrow podcastInterview with my husband/producerThe COVID-19 pandemic made my husband, Paul Stoddart, my only available interview. Turns out, we had so much fun and laughed a lot (we had to edit some of it out). I hope you also enjoy our conversation as we share what it takes to create a really great podcast and how he can help you continue to reach your people during this crisis. We share why it is important to work with a specialist in both of our fields who can also keep the work light-hearted and fun. Enjoy!
2020-04-0139 min
Preparing For Tomorrow podcastAdvocate vs. SalespersonIn this episode, Diane interviews Jennifer Jenkins with Rooted Holistic Health. She and they discuss the importance of having a true consultant go to bat for you. This is relevant when striving toward optimal health today as well as when planning the final chapters of life, when it becomes difficult to do things that used to be overlooked. For when simple tasks like dressing and getting up from a chair become painful or complicated.
2020-02-2634 min
Preparing For Tomorrow podcastSeamless transitionsIn this episode, Diane interviews Janeen Salzgeber with Pathfinders Downsizing Solutions. We learn that both insurance and move managers help us to transition to a new lifestyle when care and support are needed, and we can still feel like we're at home. In addition to the dedicated funds to pay for care, the help to us and to our families at these times is priceless!
2020-02-1035 min
Preparing For Tomorrow podcastLTC and Estate PlanningIn this episode, Diane interviews Deborah Glover-Pearcey with Estate Law 2 Go, PA. They discuss the importance of preparing 4 tomorrow to protect your family from financial, emotional and physical consequences of not having a plan.
2020-01-2730 minPreparing For Tomorrow podcastWhen I Met Alzheimer's Face to FaceDiane share's her family's story of how her grandparent's fight with Alzheimer's disease led to her passion to help other families prepare early and reduce the resulting financial, emotional and physical consequences of not having a plan.
2020-01-1529 min