Asset Care Recap of Highlights

Since the roll out of our new Asset Care products over the summer, many of our current producers have been pleased by the new opportunities that have been created. Here are a few reminders: 1.) Our qualified money solution has been enhanced and rebuilt to maximize the long term care benefits while minimizing taxes.  It … Continue reading Asset Care Recap of Highlights

OneAmerica Marketing Store

The OneAmerica Marketing Store (OAMS) is a cloud-based platform that allows you to "self-service" your Care Solutions marketing. This can be done anywhere - anytime. OAMS makes it easy to find, personalize, store, distribute and measure your marketing communications—in one location. OAMS supports a variety of content types, including direct mail, email, brochures, sales ideas, … Continue reading OneAmerica Marketing Store

IRS LTC Numbers for 2020

Every year around this time, we start sharing numbers for the following year's planning. Here are the inflation adjusted LTC numbers for 2020  that you might find useful. With the Asset Care product line identifying Acceleration of benefit (AOB) and Continuation of Benefit (COB) charges, the LTC premium associated with the policy is identifiable. The … Continue reading IRS LTC Numbers for 2020

E-Application Advantage

On thing that we’ve found is that submitting business using electronic application (eApp) has provided advisors with a few advantages. Along with the an assurance that an application submitted electronically is "in good order" (aka IGO), there are four additional benefits: Comp is paid faster Business cycle by 5-7 days A smoother client experience Reduction … Continue reading E-Application Advantage

Self-Funding isn’t Self-Insurance

Last week, I shared my opinion about self-insurance. In reality, self-insurance is pure risk retention.  Said another way, it is self-funding without any “stop-loss” provisions. At a minimum, reviewing the extended healthcare self-funding / risk retention strategy in conjunction with the client’s income plan is imperative to making it as solid as possible.  Most importantly, … Continue reading Self-Funding isn’t Self-Insurance

Self-Insure = Risk Retention

According to The Motley Fool in an article from February 24, 2018, the average retirement lasts for 18 years and begins at age 63. While the article is focused on retirement duration and shares a few facts about longevity, it opens the door for a conversation about the biggest financial risk to the retirement plan … … Continue reading Self-Insure = Risk Retention

Funding Sources – The Question

52% of people age 65 will need some form of long term care? This number still indicates that there is a significant risk that an extended healthcare event will occur at some time.  I don’t really care which statistic that you like (70% or 52% or something otherwise). It comes down to this – you … Continue reading Funding Sources – The Question

Set the Right Expectation – Underwriting

Something that  we do not discuss often enough is process. More specifically, the process to move things into and through underwriting. One thing that we often face is health issues.  That is one thing that we do better than any of our asset based peers - underwrite and work with challenging health issues.  (Remember, Asset … Continue reading Set the Right Expectation – Underwriting

A Little Pool Anyone?

Here we go again – the discussion of addressing the extended healthcare (aka long term care) funding issue.  For many, self-funding ends up being the answer.  By default or by decision, people elect to bear the full burden of the cost associated with an extended healthcare event and not elect an insurance-based solution. So, here … Continue reading A Little Pool Anyone?

Q&A – Funding Sources

Question:  Do you have anything that outlines all of the ways to pay premiums for Asset Care and/or Annuity Care? Answer:  We certainly do.  The piece is a concise graph that shows the many ways that premiums can be funded. Two things to remember, for recurring premium Asset Care, the premium durations can be 5 … Continue reading Q&A – Funding Sources