More and more affluent Americans balk at the concept of "use it or lose it" LTC insurance, so bank investment and insurance professionals are well placed to offer solutions that move LTC coverage to the asset side of a personal balance sheet. This is achieved with a life insurance policy that will fund long-term care by using the death benefit to cover expenses. If long-term care is not needed, a guaranteed tax-free benefit to surviving beneficiaries is available.

Some 42% of Americans who reach the age of 70 can expect to utilize some type of long-term care during the remainder of their lives, according to a study by the Agency for Health Care Policy and Research. As the Baby Boom generation ages, bank insurance agencies with qualified staff have the opportunity to sell LTC products that meet sophisticated financial needs.