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Using qualified money for a lifetime
For the past few weeks, I’ve discussed the benefits of unlimited benefits. As you have heard, this is personal given my family’s history. How it plays out is anyone’s guess, but I have practiced what I have been preaching and have a plan and funding. Most importantly, I am happy with where we are today… Continue reading
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Our Lifetime Decision Consideration
In last week’s FWF, I shared with you that I am concerned about a long duration care situation based upon my family history. Beth, on the other hand, has less of a concern about that given her personal experience. We determined that my risk of consuming a boatload of capital / assets / money /… Continue reading
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Lifetime Coverage is for me
Last week, I discussed lifetime benefits. Specifically, I shared how they could have made an impact in the case of my maternal grandparents who both required care for a combined 15 years. Using today’s dollars and assuming an annual cost for each of them of $97,515 without inflation and the current average cost for assisted… Continue reading
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Lifetime Coverage – It’s Personal
Last week, the Asset Care product revisions were announced. Two key features were introduced – a new 3 year acceleration of benefits and an expanded qualified money funding strategy. (For more on those, please review last week’s FWF post.) This week, I want to talk about something that has been a constant for OneAmerica Financial… Continue reading
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Asset Care Enhancements
One of the worst kept secrets in the industry is now official … Asset Care enhancements have been announced. There are a few states where the changes are pending approval so be sure to check with either your BGA/MGA/FMO/IMO or the OneAmerica Sales Desk if you have any questions. Here is the state approval map… Continue reading
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Back to the Basics
“Why do you think I’m the best player in the world? Because I never get bored with the basics. I never get bored with the basics.” Kobe Bryant This week, I want to get back to the basics – the fundamentals of asset-based LTC using Care Solutions products. Asset-based (aka linked-benefit) LTC has been in… Continue reading
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A Note to Advisors
Last week, I shared with you a link to a report that I found online from the from the Leonard Davis Institute for Health Economics. Since I’m on an AI kick, I asked Copilot to summarize the information presented in the report and present it in a blog format with the intended audience being financial… Continue reading
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Have a Plan
For the last month, I’ve been leaning into the AI discussion about what AI will say if someone asks about how to pay for long term care. As you would expect, the results differ slightly but the general consensus is that asset-based (linked-benefits) policies are a good way to fund a long-term care event. Here’s… Continue reading
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It’s a tool
As you know, the past few weeks in FWF, I have shared what AI (Artificial Intelligence) is saying about long-term care. I asked 3 different AI platforms that same question and came out with different responses. This was a bit surprising to me as I did not change the question that I asked – “what… Continue reading
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LTC according to Copilot
Over the past couple weeks, I have asked various AI tools to share what a consumer might find if they enter the prompt “what is the best strategy to fund a long-term care event”. Each one has provided a different response. Today, I asked Copilot the same question and here is what it says. “The… Continue reading
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ChatGPT says this about paying for LTC
Last week, I defaulted to Google Gemini to start our discussion about self-funding. I simply shared the results of the query – “what is the best strategy to fund a long-term care event”. The results were focused on asset depletion (self-funding) and only mentioned the leverage of insurance at the end under the premise that… Continue reading
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According to Gemini – funding LTC
It’s August and hot and humid and energy sucking. Which means that I got lazy and used AI to prime the creative pump. I asked AI the following question: “what is the best strategy to fund a long-term care event” Before I go any further and share the response, you need to pay attention to… Continue reading
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