In the February episode of Coffee Break, we discussed funding Asset Care using qualified money. If you have not seen it, please take a few minutes of your time and do so.
Most of you who know me know that I try to toe the line of neutrality and objectivity. I don’t want all of the long term care business in the northeast, I want to attract the business that is right for OneAmerica. One thing that eats at me when I share the qualified money funding Asset Care strategy is when another carrier say “we can do that.”
I may be petty. But, no you cannot.
The only turnkey solution where qualified money can be designated as a premium source for a long term care insurance policy is with OneAmerica and nowhere else.
A few statements that I hear that are false include …
We can combine our single premium deferred annuity and 10 pay the premium to our product. Sure, that can be done, but that isn’t what we do. There is no SPIA with the OneAmerica solution where distributions are made from the qualified deferred annuity via withdrawal and directed to the Asset Care premium.
We can buy a policy just like Asset Care. Really? Where is the ability to offer lifetime benefits? Where is opportunity to offer a joint policy? Where? There is no solution like the OneAmerica solution.
Sure, there are other strategies to use with qualified money to generate premium dollars for an asset-based LTC policy, but there is only one Asset Care and only one carrier with a turn-key solution … OneAmerica.
Thank you for taking time today for me (and my rant).
The next time you have an opportunity to provide a long term care solution, contact me or my internal Justin Fox.
Kevin Fisher (678) 512-9627 firstname.lastname@example.org
Justin Fox (844) 658-3725 email@example.com
If you have not watched February’s Coffee Break, please do.
In it, we explain how the long term care funding strategy with qualified money works.
Don’t forget – you can view every episode of Coffee Break on-demand by going to the LTC Coffee Break website at ltccoffeebreak.com
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