So, you want some ideas – here is one that I think is pretty cool – using a gifting strategy to purchase LTC protection.
When your client’s have their LTC funding plan in place, they may wish to help others. Anyone can make a gift into a Care Solutions product.
One idea is to gift premiums for the Asset-Care policy. One advantage of this approach is the federal gift tax exclusion for gifts of present interest to any recipient, or donee, of $15,000 for 2019. This amount is generally annually indexed for inflation and rounded down to the nearest $1,000.
A married couple can receive “double” the annual gift tax exclusion or $30,000. A donor and spouse, for example, could choose to make $30,000 in annual exclusion gifts to one person. Alternatively, one donor could make $30,000 in annual exclusion gifts to a daughter and a son-in-law.
This is but one of our advanced strategies. Our Advanced Sales team is always available to assist you. Please contact either Justin Fox (my internal) or me to get the ball rolling.