Premium Funding Using Existing Sources

At the start of the month, I asked the following: Name a long term care premium funding source that does not come from income, income producing assets, or qualified money.

The answer to my inquiry is exercising a 1035 exchange from a cash value life insurance policy into Asset Care or one of our Annuity Care products. Or, exercising a 1035 from a non-qualified deferred annuity into an Annuity Care product.

Those who replied will be receiving a LTC Coffee Break coffee mug in the next few weeks. Thank you for participating.

One more thing to remember – a 1035 exchange will not trigger a taxable event when funding both the policy (both the base and continuation of benefit riders). Also remember that distributions from the policies that are made to pay claims will be tax free.

If you would like to hear about more funding strategies, my internal sales partner Justin Fox and I are always available to assist you with any of your questions. Justin can be reached at justinfox.isp@oneamerica.com and at (844) 658-3725. And, I can be contacted by phone/text at (678) 512-9627 and kevin.fisher@oneamerica.com


A few more items that may be of interest to you – every Tuesday at 10 am (eastern), Michael Florio and I share a cup of coffee and a conversation during our LTC Coffee Break. A new episode airs every Tuesday morning at 10 am (eastern).

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click the banner to visit LTC Coffee Break and the most recent episode

And, every Tuesday evening at 7pm (eastern) , we offer our virtual consumer seminar. To learn more about the virtual consumer seminar check out the VCS landing page at LTCcoffeebreak.com.

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click the banner to get more information about virtual consumer seminars

Fridays with Fisher and LTC Coffee Break are for financial professionals only.  We will discuss asset-based LTC, selling strategies and marketing tools using OneAmerica’s Care Solutions portfolio with your clients along with other non-consumer information.