Many clients believe they can self-insure long-term care simply by relying on their savings or investments. While this sounds reasonable at first, it often overlooks the real risks of extended care.
A helpful way to reframe the conversation is to focus on uncertainty, not affordability. Long-term care isn’t a predictable expense—care needs can last months or years, costs continue to rise, and care often begins earlier than expected. Even well-funded portfolios can be significantly impacted by an unplanned, prolonged care event.
You can also emphasize that self-insuring means assuming 100% of the risk. Long-term care insurance isn’t about replacing assets—it’s about protecting them, preserving retirement income, and maintaining flexibility for a spouse or family.
Finally, remind clients that LTC insurance can be used as a lever, turning a known premium into access to a much larger pool of dollars if care is needed. For many clients, that tradeoff provides both financial efficiency and peace of mind.
Remind clients of our cost of care calculator to help them see the potential costs of long-term care. https://www.mutualofomaha.com/long-term-care-insurance/calculator
Overcoming the “I’ll Self-Insure” Objection
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