Long Term Care

Hello, my name is Christopher Wilks but if you want to get my attention just call me Chris. I have worked within the financial services industry for nineteen years (19) now, originally starting my career with John Hancock Insurance Company. As a fresh-out-of-college graduate, my job was to call on potential prospects with the hope of placing a long-term care policy one them. At least, that was the thought. More often than not, those with hearing difficulties thought we were soliciting “lawn care” items! Maybe I should have opened a nursery too boot!

Nineteen years ago, I entered our business primarily due-to-the-fact our family was paying exorbitant long-term cost, as my grandparents required around the clock care. My family did not know that there were insurance contracts out there for which a client could purchase, whereby off-loading many of these cost. What nest eggs which were accumulated, quickly evaporated as care cost rose above the fifty thousand dollar mark. Blinded by naivety, we were under the impression: “Company health insurance or medicare would cover the cost.” We were wrong! Company health insurance and that of Medicare is excellent coverage, when one requires acute medical assistance. Where these contracts have a huge donut hole in coverage is non-skilled custodial care. And like so many, we didn’t know that the majority of the care within a facility is that custodial care. For those unfamiliar with the term, custodial care is often the day-to-day fairly mundane care that we take for granted: Dressing oneself, feeding oneself, proper toiling etiquette, bathing, or the casual act of getting out of bed/ getting out of a chair. For those whom have these difficulties, the level of schooling or expertise via the care provider only needs to meet a minimal threshold. “You don’t need to be a M.D. to walk a client to the restroom!”

Currently, we place both conventional long-term care policies and non-conventual long-term care contracts on our clients. We use investment strategies whereby intertwining insurance needs. We use advance estate planning techniques to cover care cost. For those whom served this great nation, we work lockstep with attorney’s to get them Veteran’s benefits. Gone are the days when “the masses” are just looking for a contract, which may be used when care is needed, yet would pay out nothing if it isn’t. Nearly 9 out of every 10 of our policies written use a non-traditional approach to cover these long-term care cost. The beauty of working long-term care from multiple different angles all lead to one goal: Excellent coverage while keeping the cost at a minimum.

As the years have risen and sunset, I have been fortunate enough to have worked with countless families as we administer long-term care solutions. Today, I have a fantastic cliental who value my strength…an advisor who will take the extra time to make sure that questions are answered and ideas are implemented. And for nearly all, the care solutions that I present don’t involve consuming all of their hard-earned assets; leaving them impoverished, prior to a governmental care solution.

Contact Chris
cwilks@regalfin.com