Consider Caregiver Challenges when Considering LTC Options

When caring for a loved one or a friend, we often focus on the needs of the care receiver
and forget how heavy the responsibility is for the caregiver. Keep the following advice in mind when planning future long-term care options:

1. Everyone needs personal space. When someone becomes a full-time caregiver, that space and time will become infringed upon. Establish a rule of separation for an hour a day or half day a week or one long weekend quarterly. Ensure some mental and physical alone time.
2. Communication can become difficult for the ill. They may speak softer and many times have a hard time hearing. In some cases they may stop talking. Be proactive. Have an intentional conversation sitting face to face without distractions. Speak up! Wait for the speaker to finish his or her sentence. Keep an open mind. This also works when visiting people in facilities or hospitals. A gentle touch or squeeze of the hand can mean a great deal. We all need the human touch in our lives.
3. Mood disorders can be a challenge. Be aware that for both the caregiver and receiver apathy, anxiety and depression can be symptoms of the change in conditions. Look for support groups for both to share problems and feelings. NO ONE IS AN ISLAND.
4. As a caregiver, don’t let your health be challenged. 24/7 care giving is not a care plan and it is not healthy. Exercise, drink more water and make certain to keep your own doctor’s appointments. For your mental health, give yourself a regular candid analysis of what you can and cannot do. Consider finances, heavy lifting ability, sleep and nutrition. Caregivers need an established support system to allow respite from giving care.

When considering long-term care, and if you decide that self-insuring is the best way to handle the care for the illness of a loved one, don’t forget the financial, physical and mental cost of being the caregiver!

What's Missing in Your Client Meetings?

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By asking just one more question, you can help your clients to be better protected and increase your bottom line. 

View this infographic from MVP to find out what questions you should ask in your next client meeting.

Then ask MVP to help you develop the cases...

NAILBA Charitable Foundation Awards $6k to REACH-A-Child in Madison, WI

Curtis J. Fuszard Exec Dir, Reach-A-Child; Jill Kaufman,
Case Manager, MVP-Madison; Fred Thorbahn,V
P National Brokerage Sales Manager, MVP-Madison;
Carole Klopp, Financial Director, Reach-A-Child

Through the generosity of NAILBA members and corporate partners, the NAILBA Charitable Foundation was able to award more than $200k to members' local charities this year. Dawn Nelson, CMO & Partner, MVP-Madison, sponsored the application for REACH-A-Child this year, and the charity was awarded $6,000 last week.

According to their website, REACH-A-Child's mission is to collect and provide books and drawstring backpacks to help First Responders comfort children-in-crisis. 

To learn more about REACH-A-Child or to donate, visit their website.

A Good Reminder: Conditional Receipts vs. TIA's

When you take money with a life application, some carriers use a Conditional Receipt while others use a Temporary Insurance Agreement (TIA) to bind insurance coverage during the underwriting process, subject to the terms of the agreements.  However, taking money with the app is in the best interest of the client because it is the only way to have potential coverage at some point during the underwriting process.  Without money, there is definitely no coverage until the policy has been issued and all delivery requirements have been satisfied.

Coverage under a Conditional Receipt is conditional on the person being insurable, and often at the

“applied for” class.  Otherwise, there is either no coverage under the receipt, or a reduced amount. It's important to read the fine print on this receipt because the definitions and benefit limits vary from carrier to carrier.

The amount of coverage under a TIA is not usually conditional on being insurable at the "applied for" class.  The amount of coverage under the agreement is typically the same, even if the offered class differs.  Coverage continues until the insurance carrier refunds the money or accepts the risk and issues a policy. Again, it's important to read the fine print on this agreement because the definitions of coverage and benefit limits vary from carrier to carrier. 

In all cases, an agent should not accept money or provide the client with a TIA or Conditional Receipt if there is reason to believe the client is not insurable.

Why Should you Market to your Small Business Owner Clients?

Did you know that small businesses make up approximately 98 percent of all U.S. employers and provide jobs to over 40 million people?*

Despite this fact, many business owners have failed to plan for the future of their business and that’s where you can help.

• Only 21% of small businesses have a formal business plan in place.*
  
• A majority of small firms are likely to suffer financially if the owner were to die or have a long-term disability. Yet, only 20% have business life insurance and 18% have business disability insurance.* 
  
• Insurance is particularly important for sole proprietors because the burden of providing for their families typically rests on their shoulders alone.

MVP wants to help you be successful, and we're committed to helping you grow and flourish in 2016. With that said, helping you market to your Small Business Owner clients is a great place to start.

 *Mutual of Omaha Small Business Study, 2014
* Small World, Trends in the U.S. Small Business Market, LIMRA, 2012
* Source: LIMRA’s “Small World: Trends in the U.S. Small Business Market,” 2012