3 Client Profiles

Earlier this month, Michael Florio and I shared some ideas about why advisors should include LTC funding as part of their client conversations. Last week, we reiterated that point.

I am going to piggyback on this week’s LTC Coffee Break Espresso Shot where Michael shared a little on who should be party to the LTC planning conversation. (If you have not viewed it, you can below – it is less than 3 minutes in length!)

LTC Coffee Break Espresso Shot from 1/18

Suffice it to say, the demographic that was shared is pretty broad – 50 to 85. Today, I am going to share with you 3 profiles that I think are ideal candidates for Care Solutions products.

The first profile is a couple who is over 65. The reason that I cherry pick this age is simple – every other carrier chases the young and healthy business and that segment is highly competitive. Second, the urgency for a client to discuss or plan for long term care increases as they age. Third, the Care Solutions portfolio is amongst the most aggressively underwritten.

The second profile to focus on is clients who are over the age of 70 (up to age 85) and own nonqualified deferred annuities. In the past, we have shared how the Pension Protection Act creates a unique opportunity for tax-deferred gains to be transformed into tax-free long term care benefits. And, we can create a stream of benefits that might never run out.

Finally, consider opportunities where income planning is being (or has been) done but long term care funding has not been included. Typically, this is in the 60s but annual plan reviews need to be conducted and those conversations should be included. Anyway, to the point, for those opportunities where maintaining assets under management and minimizing the impact of insurance premiums are a primary concern, Asset Care funded via recurring premium offers a stable predictable and guaranteed premiums.

My challenge to you is this – bring me 3 cases that meet any one of these criteria and we will develop a long term care funding strategy.

To schedule a meeting, you can contact me via email at kevin.fisher@oneamerica.com or text or voice at (678) 512-9627.

For product questions and illustration assistance – call Justin Fox at (844) 658-3725 or email at justinfox.isp@oneamerica.com

Don’t forget to join Michael Florio and me on our weekly webcast LTC Coffee Break where we share new ideas with you every Tuesday morning at 10 am at LTCcoffeebreak.com.