The Dentists Insurance Company Insurance Solutions has worked with BuddyIns to develop a special offering for CDA members: long-term care with life insurance benefit by Chubb. Maximize your CDA member benefits by setting up your policy during long-term care enrollment this spring from May 12 – June 13. Purchase coverage during this open enrollment period with guaranteed approval and affordable premiums for additional value and protection.
Long-term care protects families
Long-term care insurance isn’t just a financial tool — it’s a way to safeguard families from the emotional, physical, and financial toll of caregiving. Marc Glickman, an experienced actuary and BuddyIns advisor, was motivated to pursue a career in long-term care insurance partly because of his own family history.
“My grandparents, whom we lovingly called Bubbe and Zedde, both needed extended care for many years,” Glickman recalls. “Zedde, a Holocaust survivor, had suffered severe trauma from his experiences during World War II, which led to mental health struggles later in life. He eventually suffered a stroke that left him physically incapacitated, and the family had to make difficult decisions about his care.”
Glickman’s grandmother also experienced a stroke. “I remember vividly how my mother took on the role of her full-time caregiver,” Glickman says. “For five years, my mother dedicated herself to caring for Bubbe, putting her own health and well-being aside. The burden was immense, both emotionally and physically. Those memories stuck with me.”
The risks of self-funding
Caring for the needs of an elderly or disabled family member is an experience shared by many, and one that frequently motivates people to save wisely in hopes their own children won’t have to experience similar challenges. Glickman notes that it is common to hear from clients who were steered away from long-term care insurance under a financial advisor’s suggestion that they could instead self-fund the risk.
While self-funding may seem like a viable option for affluent families, it’s fraught with risks. Market volatility, taxation and the uncertainty of when care will be needed all complicate the notion of simply relying on personal savings. “Long-term care insurance isn’t just about covering costs,” says Glickman. “It’s about leveraging insurance to provide peace of mind and, more importantly, protecting your loved ones from the heavy burden of caregiving.”
A perspective on planning
Glickman shared a memorable example of how unexpected events can complicate even the best-laid plans.
“It all started with a simple phone call from my relative, Colin, who was seeking advice on long-term care insurance. Colin and his wife, Amy, were facing the same question that many families ponder: should they buy long-term care insurance, or could they afford to self-fund the costs? Although Colin was confident in their financial security, years of hesitation had kept them from moving forward with a plan.”
Knowing that today’s long-term care insurance market offers a variety of options, including prepaid plans and guaranteed premiums, Glickman assured Colin and Amy that he could find the right coverage to fit their needs. They agreed to move forward. Given their excellent health, he was able to secure a plan with superior longevity protection and excellent value.
Colin and Amy were traveling and postponed signing their application. Glickman remembers cautioning them, “Heaven forbid any health issue should happen before you return — you might not qualify for coverage.” Glickman notes, “At the time, it felt like a typical sales line, but it wasn’t long before that warning took on a much more personal significance.”
Shortly after that, Glickman was shocked to learn that Amy had suffered a brain aneurysm, a sudden and life-threatening condition. Amy survived. “She underwent a cutting-edge surgical procedure that repaired the aneurysm, and her recovery has been nothing short of miraculous,” Glickman reports.
Plan now to protect your future
For Glickman, his relative’s close call underscored the reality that life is unpredictable. “The story had a happy ending for Colin and Amy, but not every family is so fortunate,” says Glickman. He points out that the lesson to be learned from their example is clear: don’t wait. “If you have an opportunity to obtain coverage, even a basic plan is better than no plan at all.”
CDA members can benefit from long-term care options that are available to them at affordable group rates during the upcoming enrollment period. Use enrollment resources to:
- View a benefits summary
- Use the Build Your Benefit calculator
- Get answers to long-term care insurance FAQ
- Enroll in a policy
CDA offers more information about the likelihood of needing long-term care, common signs you may be at risk of needing long-term care, and more about long-term care planning specifically for dentists.