Self-Study
Basic
CPE Credits
5 Credits: Taxes
Course Description
The risk of needing long-term care – a designation given to a broad range of services designed to meet an individual’s mental, emotional, physical, and personal needs – is present at all ages. However, as individuals become older, the risk increases significantly.
The U.S. population is expected to increase by about 27% by the year 2050. In contrast, the part of the U.S. population most at risk for needing long-term care – the segment comprised of individuals 85 years or older – is expected to grow by 280% during this same period. This segment of the population is growing disproportionately, while simultaneously, the already substantial costs of long-term care are rising at a rate exceeding the inflation rate.
These issues present significant and burdensome financial concerns for many clients and their heirs. This course examines the nature, risks, and associated costs of long-term care, as well as the forms in which it may be delivered; the sources available to help pay for it; and the features of long-term care insurance.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Chapter 1
- Define long-term care;
- Describe the normal activities of daily living;
- Identify the settings in which long-term care may be provided;
- Recognize the risk of needing long-term care and the factors that may affect the risk; and
- Describe the social factors affecting the need for long-term care.
Chapter 2
- Identify the national average cost of obtaining long-term care in a nursing home;
- Recognize the average U.S. cost of residing in an assisted living facility;
- Identify the average costs normally associated with community-based long-term care;
- Describe the U.S. population trends expected to affect the future cost and availability of long-term care; and
- Recognize the various sources of long-term care funding in the United States.
Chapter 3
- Compare the indemnity and reimbursement approaches to providing long-term care insurance benefits;
- Identify the qualified and nonqualified long-term care insurance policy benefit triggers;
- Recognize the basic provisions contained in a long-term care insurance policy;
- Describe the tax treatment to which long-term care insurance premiums and benefits are subject; and
- Identify the alternatives for paying the costs of long-term care services.
Chapter 4
- Identify the factors that affect the suitability of long-term care insurance for an individual client;
- Recognize the client disclosures that should be made in any ethical long-term care insurance recommendation; and
- Describe the special suitability and disclosure requirements applicable to the replacement of a long-term care insurance policy.
Course Specifics
|
Course ID 8162546 |
Revision Date February 23, 2021 |
Prerequisites There are no prerequisites. |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01692-20-S
IRS Federal Tax Law Credits: 5
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01692-20-S
IRS Federal Tax Law Credits: 5
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-0915
CTEC Federal Tax Law Credits: 5
CTEC Course Number: 2071-CE-0915
CTEC Federal Tax Law Credits: 5
Course Instructor
Paul Winn CLU ChFC is a writer with more than 30 years experience in the life insurance and securities industry as an agent/registered representative, an agency head, a marketing vice president for a life insurance company and the president of a corporate registered investment adviser. He was a long serving member of the advisory board to the New York State insurance department. He is a published book author and creator of more than 200 taxation, insurance and securities training courses.
Long-Term Care Fundamentals
$145.00 – $175.00
Self-Study
Basic
CPE Credits
5 Credits: Taxes
Course Description
The risk of needing long-term care – a designation given to a broad range of services designed to meet an individual’s mental, emotional, physical, and personal needs – is present at all ages. However, as individuals become older, the risk increases significantly.
The U.S. population is expected to increase by about 27% by the year 2050. In contrast, the part of the U.S. population most at risk for needing long-term care – the segment comprised of individuals 85 years or older – is expected to grow by 280% during this same period. This segment of the population is growing disproportionately, while simultaneously, the already substantial costs of long-term care are rising at a rate exceeding the inflation rate.
These issues present significant and burdensome financial concerns for many clients and their heirs. This course examines the nature, risks, and associated costs of long-term care, as well as the forms in which it may be delivered; the sources available to help pay for it; and the features of long-term care insurance.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Chapter 1
- Define long-term care;
- Describe the normal activities of daily living;
- Identify the settings in which long-term care may be provided;
- Recognize the risk of needing long-term care and the factors that may affect the risk; and
- Describe the social factors affecting the need for long-term care.
Chapter 2
- Identify the national average cost of obtaining long-term care in a nursing home;
- Recognize the average U.S. cost of residing in an assisted living facility;
- Identify the average costs normally associated with community-based long-term care;
- Describe the U.S. population trends expected to affect the future cost and availability of long-term care; and
- Recognize the various sources of long-term care funding in the United States.
Chapter 3
- Compare the indemnity and reimbursement approaches to providing long-term care insurance benefits;
- Identify the qualified and nonqualified long-term care insurance policy benefit triggers;
- Recognize the basic provisions contained in a long-term care insurance policy;
- Describe the tax treatment to which long-term care insurance premiums and benefits are subject; and
- Identify the alternatives for paying the costs of long-term care services.
Chapter 4
- Identify the factors that affect the suitability of long-term care insurance for an individual client;
- Recognize the client disclosures that should be made in any ethical long-term care insurance recommendation; and
- Describe the special suitability and disclosure requirements applicable to the replacement of a long-term care insurance policy.
Course Specifics
|
Course ID 8162546 |
Revision Date February 23, 2021 |
Prerequisites There are no prerequisites. |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01692-20-S
IRS Federal Tax Law Credits: 5
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01692-20-S
IRS Federal Tax Law Credits: 5
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-0915
CTEC Federal Tax Law Credits: 5
CTEC Course Number: 2071-CE-0915
CTEC Federal Tax Law Credits: 5
Course Instructor
Paul Winn CLU ChFC is a writer with more than 30 years experience in the life insurance and securities industry as an agent/registered representative, an agency head, a marketing vice president for a life insurance company and the president of a corporate registered investment adviser. He was a long serving member of the advisory board to the New York State insurance department. He is a published book author and creator of more than 200 taxation, insurance and securities training courses.
Long-Term Care Fundamentals
$145.00 – $175.00