It is my opinion that, as a RMS, we should not be involved in the sale or purchase of LTCI or any other financial/insuarnce products. I beleive that sets us up for moral and ethical scrutiny. Who in our industry needs any more scrutiny?

I do believe it is our obligation to avail our knowledge and expertise to professionals in other areas of financial/estate planning. No cross-selling and no cross-compensating. Thus we can be a part of the solution, not the problem.

I may be mistaken, but isn't the California legislature currently either looking to (may have already in face) pass some corrections about the foreign language issue? Does anyone have an update or clarification about that?

Glad to hear of appropriate sales, for a change; it's too bad the crooks screwed things up, again.
It would be nice if some of those people that bought LTCI because of your efforts would write a letter to you if they have utilized the LTCI for helping them stay in their homes rather than going into a facility and possibly triggering a foreclosure. If I understand it correctly, that would only be a year.
BTW: the average stay in a nursing home is way over a year; hasn't any one heard Medicare and Medicaid/MediCal are going broke.

However,because of dishonest insurance agents in Northern California who took advantage of homeowners who spoke limited English and sold them inappropriate annuities, the simplicity of the above mentioned professional network approach which was for the benefit of the client has now become more complicated. Today,even though I am a fluent bilingual (English/Spanish)I am required to inform a homeowner who has a Spanish language preference that they must engage an interpreter (3rd party) to be present during my reverse mortgage application interview and that they must wait 30 days after funding of the reverse mortgage before requesting that monthly payments be made to an insurance firm. This creates distrust at the onset and as a result, some Hispanic homeowners decline moving forward. It is well known that Hispanic senior homeowners are severly underserved when it comes to reverse mortgages and needed worthwhile insurance products.

I look forward to the day when perhaps, compliance will mean that licensed /certified reverse mortgage and insurance professionals will be “required” to make a joint visit with a client to fully explain the benefits of using their home equity and LTCi to avoid having to go to state run facility thereby accelerating the demise of MediCal.

LTCI could be very expensive for a 74 year old with pre-existing medical conditions!

There certainly isn’t anything wrong with a Genworth or MetLife getting in the business of Reverse Mortgages and it doesn’t necessarily mean or we shouldn’t assume that they are going after these client (average age 74) to sell them more products. They are simply adding to their product line and covering more needs.

I say; “why not let the house protect your house (and all your assets)”. The RM allow this when one funds LTCI with RM proceeds.