A growing concern of consumers nationwide involves the potential cost of long-term care expenses during their retirement years – especially if they will be able to choose how that care is delivered and whether or not they will be able to afford those expenses.

A recent CNBC article pointed out how about 1 in 7 Americans could spend at least $100,000 out of pocket for long-term care. The average future cost of long-term care for someone turning 65 today is about $122,400, per the U.S. Department of Health and Human Services and the Urban Institute.

To complicate the LTC discussion, many households are unaware of the potential costs, either for themselves or their loved ones. For example, 73% of workers say there’s at least one adult for whom they may need to provide long-term care in the future, according to a new poll by the Employee Benefit Research Institute. From that poll, just 29% of these future caregivers – who may wind up footing at least part of the future bill – had underestimated the future cost of care per the EBRI research. Of those who did, 37% thought the price tag would fall below $25,000 a year.

While those numbers are from 2024 research, the CareScout website provides more staggering long-term care costs, which potentially could impact retirement accounts or budget depending on when/if LTC services are needed. The CareScout website provides adjustable predictions for potential LTC costs – AIP Marketing Alliance based the below 2026 annual costs for care using a rate of inflation of 4% per the Cost of Care Survey 2024.

• In Home Care (44 hours per week by 52 weeks): Homemaker Services estimated at $81,665 vs. $75,504 in 2024); Home Health Aide estimated at $84,140 vs. $77,792 in 2024
• Community and Assisted Living: Adult day health care (5 days per week by 52 weeks) estimated at $28,122 vs. $26,000 in 2024; Assisted living community (Based on 12 months of care, private, one bedroom) estimated at $76,577 vs. $70,800 in 2024
• Nursing Home Care (Based on 365 days of care): Semi-private room estimated at $120,409 vs. $111,325 in 2024; private room estimated at $138,174 vs. $127,750 in 2024

If these numbers have a 4% inflation rate per year, then those annual costs could jump exponentially as shown below in 10 years (2036). Remember, these are estimates for information and educational use only.

• In Home Care (44 hours per week by 52 weeks): Homemaker Services estimated at $120,884; Home Health Aide estimated at $123,547
• Community and Assisted Living: Adult day health care (5 days per week by 52 weeks) estimated at $41,627; Assisted living community (Based on 12 months of care, private, one bedroom) estimated at $113,353
• Nursing Home Care (Based on 365 days of care): Semi-private room estimated at $178,235; private room estimated at $204,532

AIP Marketing Alliance, an Integrity Company, wants to help independent life insurance agents selling long-term care insurance to be part of the solution to the possible LTC problem that could be awaiting consumers nationwide.

In conjunction with the CLTC Foundation, AIPMA is hosting an exclusive 4-hour virtual training course created by LTC planning specialists to help independent life insurance agents and financial professionals gain the confidence to open and manage long-term care conversations. Each participant also can earn 4 CFP continuing education credits by attending this session.

Licensed agents can register for this session online by clicking here. The CLTC Foundation course occurs on back-to-back days (Wednesday, March 25th & Thursday, March 26th) from 2:00 p.m. to 4:00 p.m. EST. The class will be taught by Matt Donaghue, CLTC, and costs $349 through AIPMA. Pre-registration is required and spots are limited!

What will the class cover?

• Best Practices for Integrating LTC Planning into Client Conversations
• The Basics of Long-Term Care
• The Impact of LTC on a Client's Income and Family
• How to Identify the Right Clients for a LTC Conversation
• How to Avoid Common Mistakes
• How to Create and Fund a Plan

You also can visit the CLTC event’s website page for more details including applicable state credits and more background about the course instructor, Matt Donaghue, CFP®, CLU®, CLTC®, who specializes in extended-care planning, and helping individuals and families prepare for the financial and emotional impact of long-term care needs.

AIP Marketing Alliance has coordinated this event with the CLTC Foundations team, but our branding is not used anywhere on the registration for this course. We did that on purpose so our valued wholesalers can support and register for the event without worry of private-label branding as we just want to provide this value-add educational course to help insurance agents tackle a growing concern in today’s consumer marketplace.

Watch for more resources, technology, carriers, and tools as AIPMA is providing #TheRightMIXin26 for independent agencies, wholesalers, and agents nationwide. Our downline wholesalers and agents choose AIPMA because they know the difference is personal.

If you have any questions about the course, you are welcome to contact Darron Markwood, VP of Marketing and Compliance Officer, at [email protected] for more information. We can customize a flyer from the CLTC with your branding to send to your downline agents as needed. Again, agents can register directly through the CLTC website.

We are #TheRightMIXin26 for independent insurance wholesalers and agents. For more than 40 years, AIP Marketing Alliance (AIPMA), an Integrity Company, serves as a premier life insurance and annuity distribution partner to provide full-service support to independent wholesalers, brokerages and agents from our Troy, Michigan office. NOT AFFILIATED WITH OR ENDORSED BY THE GOVERNMENT OR THE MEDICARE PROGRAM.

AIP Marketing Alliance is committed to supporting our independent insurance wholesalers and agents. Visit our blog on aipma.com to stay informed on these upcoming launches and learn why wholesalers nationwide choose AIPMA as their distributor for selling life insurance, annuities, long-term care insurance, final expense, and much more. Ask about lead programs, access to IntegrityCONNECT’s technology, myAIP CRM platform with customizable recruiter portal, and online tools/resources designed to grow your business. The difference is personal.

AIP Marketing Alliance, an Integrity Company, has developed this electronic communication for informational and educational use only. Be advised, AIP Marketing Alliance, Inc., does not provide legal advice, tax advice, or guidance on issues involving securities laws, insurance laws nor securities or insurance regulations. This material should not be relied on as providing any such advice or guidance to either agents or retail consumers. Within this communication, AIPMA shares links for usage as information only. This content should not be interpreted as solicitation to purchase life insurance, annuities, or other products or as advice designed to meet your clients’ specific needs. Content involving fiduciary, tax, or legal advice should be directed to your legal, tax, and financial professionals for specific advice or product recommendations. AIPMA will not accept any legal liability resulting from any use of 3rd party material(s).