November is Long Term Care Awareness Month

longtermMany of us don’t insure anything that doesn’t have a dollar value. We insure cars, houses, diamond rings etc., so why is it that we don’t insure ourselves?
We are our most valuable asset.
Most of us do not think about death or long term care. Questions and thoughts such as these we tend to “sweep under the rug”:
• What happens when a loved one needs care in a nursing facility or passes away pre-maturely?
• What impact will either of those events have on our families?
• Will the kids take care of a parent?
• Will the parent move in with the kids?
• Do we want our parents or grandparents in a state run institution?
As an insurance agent, I know the answers to these questions….. My goal is to help you see an affordable solution to the answers.
I understand Long Term Care insurance isn’t something we want to spend money on. Often what I hear from my clients is: “What if I don’t ever use the benefit - I will be throwing the money away?”. When I am asked my personal opinion about Long Term Care Insurance, I passionately say this: “I don’t want to be a burden to my kids, and I really don’t want to spend my older years being dependent on the State. If I don’t need my Long Term Care Policy and I die peacefully in my sleep than I did right by my family”.
Doing nothing is not an answer. It will have a higher cost then any premium you may pay.
Let’s examine the Cost of Care:
Depending on where you live and the type of care that you require, long-term care expenses can exceed $75,000 per year. (1) In some states, that cost of care can be much higher. At these rates, the choice to self-insure can be very challenging. A common misconception among people without Long Term Care Insurance is that government health programs such as Medicare and Medicaid will cover these costs. While Medicare provides limited coverage for nursing home and home care services, it is designed to pay for the treatment of acute, short-term illness — not ongoing care associated with Activities of Daily Living, (2) such as eating, bathing, and dressing. Simply put, Medicare affords very limited nursing home and home care services.. Medicaid, a different program entirely, may cover ongoing costs associated with long-term care. However, it requires that recipients meet strict asset and income eligibility criteria, and care is restricted to Medicaid-approved services and facilities.

So by now you might be thinking to yourself: “What if I don’t use the insurance? All that money will go to waste.” ……. Not so!

In last month’s blog, I covered the need for Life Insurance. If we all can agree that our lives should be insured, then I can show you there is a way to insure our lives and pay for Long Term Care as well.

Did you add an Accelerated Death Benefit Rider to your permanent life policy when you purchased it? What this offers you is in the event that you are diagnosed as terminally ill, you will be allowed to take an advanced payment of a portion of your death benefit to pay for medical expenses or long-term care. If you keep your policy in-force, but you do not use your long-term care protection, although you have paid the rider charge for the option to accelerate the death benefit, you haven’t spent decades paying premiums for a policy that never pays any benefit at all. Additionally, if you begin collecting monthly benefits under the Accelerated Death Benefit Rider, but do not receive the full death benefit of your policy, the remaining death benefit will be paid to your beneficiaries at your death.
There you have it -the best of worlds: Life insurance and LTC rolled into one!

Richard Montenegro, Jr.
Managing Partner
FIS Marketing, LLC
3900 Veterans Memorial Highway
Suite 251 (Field Office)
Bohemia, NY 11716
Cell: 631-312-6344
Fax: 585-625-0318

1. Gross, Jane. “How Medicare Fails the Elderly.” The New York Times, October 15, 2011.
2. As defined in the Internal Revenue Code Section 7702B.

1 Response

  1. @richmontenergo probally is not aware of the lies he writes here, a
    quick yahoo search shows this article Richard claims is a cut and paste.
    Not an original thought, RichMontenegro is a high school graduate with
    no college credits at all. He kinda dumb person. Token hispanic at the FIS Marketing

    this is a high pressure pitch, note the text tricks Dick resorts to.

    Quick-change tactics. Skilled scam artists will try
    to prey on your “time fears.”

    Unwilling or unable to prove credibility. A licensed agent will be more than willing to show adequate credentials.

    If it seems too good to be true, it probably is!

    is a twice convicted con-artist, he does not have certifaction to
    represent himself as a licensed insurance agent..thus his “wholesale”

    Personally he is default on every credit card, vehicle,
    house note …every on in last 20 years….he does not even have any
    sort of insurance at all himself

    Stay far awy from FIS Marketing
    and #RichMontenegro if you like your money safe and have any hope the
    poliecy you buy will pay off after you’re gone

    f you suspect you’ve been a victim of deceptive sales practices, report
    it to your state insurance department. You can link to your state
    insurance department’s Web site by visiting

Leave a comment

From the first time I spoke with Lori Halloran at Petschauer Insurance, I knew she was a special person. She is a woman that conducts herself professionally, with compassion and full knowledge of all types of insurance Petschauer has to offer. While speaking with her, as she explained and answered all of my questions, I felt like I was speaking with family…which is another way to describe this company. She has a way of making very confusing decisions so simple and easy to understand. I even added another insurance policy to my two renewal policies because of her. My last renewals could have been processed via mail but I really wanted to take the time to drive and meet this wonderful woman face to face. She greeted me with this huge beautiful smile, which matched her personality perfectly. So, I just had to go back another time just to say “Hi” and bring her flowers in appreciation for all her help and also celebrate a new friendship. The Petschauer “Family” has been there for me since my first policy when I was 19 years old, and now I’m a “senior”. I’ve been with them forever and don’t plan on going anywhere else. Thank you Lori for your dedication and to the rest of the Petschauer staff.
Jane Deitlein
I have been with Petschauer Insurance for a long time. My account executive Lori Halloran is like family to me: she is always there when I need her and is very knowledgeable and understanding. I wouldn’t go anywhere else for my insurance needs.
Vincent Falcone
Petschauer is great. I never had a problem.  They always call me back. Fabulous employees who are always willing to help.
Marty Bruno
My family and I are long time personal and business clients of Petschauer Insurance. We sincerely appreciate your responsiveness and the quality of service that Petschauer provides. We have recommended your company to others because of our satisfaction with your service. We look forward to doing business with you for years to come.
Greg Weiss
Spence-Chapin has had the pleasure of working with the wonderful John Petschauer, Inc. for 15+ years. They have always provided excellent service to us–with great knowledge, expertise, and patience — even in the most challenging situations. There has not been one time when they have not been immediately accessible to us, even at a moment’s notice. We thank them for their work and celebrate their 60th anniversary, while looking forward to working with them for another 60 years and beyond!
I have been with Petschauer Insurance for over twenty five years. The staff is knowledgeable and professional. Petschauer writes both my personal and commercial insurance and they provide excellent counseling. I truly trust the firm and their staff. Thank you.
Mike Matonti
Quality attentive service is hard to find, but at Petschauer Insurance that’s what you can expect from their always friendly staff . It’s what we’ve experienced for all these many years.
John from Forest Pork Store Inc.
My company has called on Petschauer Insurance for many years for its insurance needs: liability, liquor, auto, etc. Working with Erwin and his team has been a pleasure from beginning to present. They are quick to answer any question and provide sound advice. I have always felt that my and our needs are important to them, in theory and practice. They go the extra mile, and we continue to be well served.
Stephen Kennard from Canard Inc.
Excellence in customer service and it’s a one stop shop for all my insurance needs.
Tom Haines
I have worked with various individuals at Petschauer and have found each to be responsive, courteous, and thoughtful. Each year, the contact for my auto policy proactively seeks new bids and has consistently saved me money on my policy.
Ryan Huber