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NAIFA's Limited & Extended Care Planning Center

The LECP Center empowers professionals to network with solution and service providers to share best practices, directly access subject matter experts, research, training and resources; and provide thought leadership so we may continue to address the changing needs of the market.

8 min read

Advantages of Reverse Mortgage Loans over HELOC and Home Equity Loans

By Fairway Independent Mortgage Corp. on 3/17/22 11:39 AM

For your clients who are homeowners aged 62+, a Home Equity Conversion Mortgage (HECM, commonly called a reverse mortgage) loan offers some distinct advantages over other types of home-equity-release loans.

According to a survey conducted by Clever,* about half (51 percent) of retirees believe they will outlive their savings. Perhaps even more worrisome, the study also found that 65 percent of retirees say they are not financially secure. They may be facing any number of financial challenges, including how to best pay for long-term care or combat recent jumps in the prices of food, gas, and just about everything else.

As a financial professional, you want to give your clients the best chance at financial success. For most homeowners aged 62 and older, home equity represents the largest portion of their overall net wealth, usually dwarfing their other assets (e.g., retirement savings). While home equity is good, unless the home is sold or the equity is tapped, it is of essentially no functional value to a homeowner in retirement because it is generally very illiquid.

Topics: Financial Planning Reverse Mortgages Grow Your Business Financial Literacy Potential Partners for Advisors
1 min read

Loyal NAIFA Member Louis Brownstone Featured in Broker World

By NAIFA on 3/15/22 1:28 PM

Loyal NAIFA-CA member Louis H. Brownstone, CLTC, proposes a new solution for long-term care insurance planning in a recent Broker World article. Brownstone is the owner of California Long Term Care Insurance. A NAIFA member since 2007, he is the Government Relations/APIC IFAPAC Chair for NAIFA-San Francisco Peninsula and a NAIFA Financial Security Advocate.

Congratulations, Louis. We're #NAIFAproud of your commitment and dedication to our industry.

Topics: Long Term Care Retirement Planning Financial Planning Member Planning in Advance
2 min read

Top 5 Considerations as You Evaluate New Whole Life Products

By OneAmerica on 3/8/22 10:13 AM

Along with resolutions and high hopes, the new year also brings many insurance carriers promoting changes to their whole life insurance product portfolios. These revisions are due to adaptations in the IRC Section 7702 regulations. Prolonged low interest rates also continue to factor into product refreshes, revamps and adjustments. It may be overwhelming to sift through the fine print of the new products, but as you begin to evaluate them, keep these top five considerations in mind:

Topics: Life Insurance Financial Planning Limited Care Financial Security insurance
8 min read

Home Equity Conversion Mortgage (HECM) Loan: What You Need to Know

By Fairway Independent Mortgage Corp. on 2/16/22 12:51 PM

While there are several different types of reverse mortgages, most reverse mortgage loans today are HECMs—the only reverse mortgages insured by the Federal Housing Administration (FHA). 

Many financial professionals now consider today’s HECMs to be an important and effective tool (when used within a comprehensive financial plan) to help improve retirement outcomes for their older-adult homeowner clients.

Topics: Retirement Planning Financial Planning Planning in Advance Retirement Reverse Mortgages Financial Literacy Potential Partners for Advisors
1 min read

Upcoming Webinar: Tech Tools to Grow Your Long-Term Care Practice

By NAIFA on 2/3/22 12:02 PM

Whether you're a long-term care veteran or interested in expanding your practice, this webinar is for you!

Topics: Financial Planning Limited & Extended Care Planning Center Potential Partners for Advisors
1 min read

Guaranteed Income: The Forgotten Household Asset

By Mutual of Omaha Mortgage on 12/1/21 12:15 PM

Guaranteed income is the largest financial asset for most retirees, yet its role in a financial plan is generally quite minor, treated simply as a cash flow that can be used to fund the retirement liability.

Topics: Long Term Care Retirement Planning Financial Planning
1 min read

E4 Insurance Presents a Special BREW Featuring Shane Van Patten

By NAIFA on 10/11/21 3:31 PM

E4 Insurance Services invites you to join our Building Relationships Every Week (BREW) Wednesday, Nov. 3, 2021, from 12:00-12:30 PM CST. November is Long-Term Care Awareness Month, and we want to help you start your month with all the tools you need!

Shane Van Patten, CLTC, E4 Insurance Services Regional Vice President has been helping Financial Professionals proactively integrate insurance into their practices for the past 16+ years.

Topics: Long Term Care Financial Planning
3 min read

The Importance of Long-Term Care Planning From an ER Doctor’s Perspective

By NAIFA on 9/3/21 1:15 PM

As an emergency medicine physician for 20 years, including the past 12 years working in a large, level 1 trauma center, Dr. Monica Williams has seen innumerable patients and families facing long-term care challenges. As the Medical Director for Advance Care Planning and End of Life Education for the third-largest community-owned hospital system in the United States, she has spent a portion of her career talking to doctors about how they can have effective advanced medical planning and end-of-life conversations with patients and families.

Topics: Long Term Care Financial Planning Planning in Advance webinar Potential Partners for Advisors
1 min read

LECP Webinar presented by Coventry: What's Driving Life Settlement Growth

By Beth Helberg on 8/18/21 10:26 AM

Join the LECP at 2 pm eastern on Thursday, September 23rd, for a virtual executive roundtable - What's Driving Life Settlement Growth.  The discussion will focus on current market trends in life settlements and how you can leverage this important tool.

Topics: Financial Planning Life Settlement webinar
7 min read

The worst case scenario - is lifetime LTC Insurance worth it?

By Tom Riekse Jr. on 3/26/21 9:00 AM

Luckily, you aren't going to need years and years of high cost long-term care. But what if you did?

Topics: Long Term Care Financial Planning Planning in Advance Advanced Planning Limited & Extended Care Planning Center

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