Ultra High Net Worth Clients & Their Trusted 3rd Party Advisors

Ultra High Net Worth Clients - PWM
Ultra High Net Worth Clients – PWM

Strategic Solutions for Affluent Clients

Addressing Extended Care Planning Needs

Extended health care planning offers peace of mind through the employment of experts to oversee planning and care. The value found in expert care management and coordination is a key benefit to finding the appropriate risk solution.

The typical response to the invitation to plan for long-term care is that these clients can easily self-insure the costs of such care. But are these clients prepared to invest the time and emotional capital needed to treat a family member who requires around-the-clock care? A client and/or advisor would be remiss in failing to address this personal risk as a critical component of one’s financial plan.

Long-term care planning is a valuable funding mechanism for managing a chronic or cognitive disability. It allows one to establish a dedicated funding resource to address the expenses of an extended health care event.

Without a long-term care plan in place, individuals and families will be exposed to emotional and financial challenges. These challenges can potentially effect one’s ability to maintain their current lifestyle and execute their legacy plan. Long-term care planning is a critical piece of a personal risk management strategy. Without it, one could be jeopardizing all they’ve accumulated, since only a very small percentage of long-term care expenses are covered by Medicare, major medical, or disability insurance. With this significant risk of incurring a substantial financial burden, even the wealthiest of individuals should consider options for protecting themselves.

For these reasons, advisors highly recommend adding long-term care planning to a client’s risk management portfolio to help:

  • Protect retirement funds
  • Reduce caregiving responsibilities as a family  concern
  • Protect a legacy for beneficiaries and charities
  • Sustain their current lifestyle with dignity
  • Provide peace of mind and quality of life in later years
  • Take advantage of tax benefits


While Ultra High-Net Worth individuals certainly have the assets to self-insure, the purchase of LTCi is an effective tool for asset preservation and risk mitigation. LTCi policies may even be structured with a guarantee that 100% of premium payments, can be paid to an individual’s family or a trust upon the death of the insured. An insurance solution as part of a long-term care plan could potentially produce significant savings to the client and their estate.

Extended health care planning offers a very practical tool for solving the challenges posed by this issue for both clients and their advisors. For more information please contact MS Consulting Group for a complimentary consultation.