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Podcast 108 – Making Sense of Long Term Care for Business Owners

Making Sense of Long Term Care for Business Owners

In #PoisedforExit today's episode we interviewed Stephanie Searle, industry expert in Long Term Care solutions. Stephanie has been in the financial services industry for many years, having started as a financial adviser and stock broker for Prudential and working there for a number of years, before going into Long Term Care. 

She said the average person doesn't know what they really have for coverage in LTC, because many times they're told that their Life policy has LTC coverage built in, but if the agent is not a LTC Specialist, then it's not what the policy holder thinks!  

As an aging population who's working much longer than the traditional time of retirement, LTC is an option that fits many lifestyles and needs because it can be assembled as a hybrid product. The hybrid can be a combination of life insurance and Long Term Care, and the benefits can move from one type of coverage to the other, depending on what the needs are. 

A nuance in the Long Term Care industry is the concept of Membership Plans. Getting coverage is easy and there are no prerequisites or requirements. You simply pay a monthly amount and use it when you need it. There's even a plan that covers a married couple, vs buying individual coverage. 

The odds of needing Long Term Care as we age is much higher than we think, and having a Disability Policy is not enough anymore. What if you had a car accident and couldn't work for a while? What if your spouse had to quit working to care for you ?  Where does the money come from? Disability covers some expenses, but you just tripled your monthly outgoing and there's no more paycheck. Stacking LTC to your Disability ensures you'll get the care you need and the financial assistance to keep your bills paid and food on the table until you're back on your feet!

Stephanie offered a 2022 Tax Chart that outlines the IRS benefits of Long Term Care. To obtain that, simply email her at  and put “Tax Chart” in the subject line. 

Listen to the episode now!

Find Stephanie here and find Julie here.

Thank you to this month's sponsor! Sunbelt Business Advisors  

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Julie Keyes
Julie Keyes

Founder & Owner at KeyeStrategies, LLC

Julie is a Certified Exit Planning Adviser and Value Growth Advisor with 30+ years of experience. She works with business owners who seek to understand and maximize their exit and critical transition options.

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