In last week’s Fridays with Fisher, I shared with you a little “discovery” pertaining to the Asset Care 2024 product through a competitive lens.
If you recall the scenario that I compared was for a client who was a 67 year old female in good health and elected for a 72 month LTC benefit plan without inflation. It was funded with a single premium of $150,000. And, in my opinion, Asset Care 2024 won!
I received some feedback on that comparison. It was everything that I expected, and I appreciate it.
One person asked how a comparison would work for a couple. So, I built a quick one comparing Asset Care 2024 with the other guys joint policy.
Both Betty and Billy are 67. They are in good health and are looking to create a million dollar pool of resources to fund their long-term care. For simplicity, we will use a monthly LTC benefit of $12,000 without inflation and solve for the single premium required to create the pool.
| The other guys | Asset Care 2024 | |
| Monthly LTC Benefit | $12,000 | $12,000 |
| Annual LTC Benefit | $144,000 | $144,000 |
| LTC Benefit Pool | $1,152,000 | $1,152,000 |
| Death Benefit | $432,000 | $288,000 |
| Residual DB | $43,200 | $0 |
| SINGLE PREMIUM | $306,832 | $295,811 |
To quote the great broadcaster Harry Carrey, “HOLY COW!!!!!!!” ASSET CARE 2024 WINS!
On a pure premium basis where we are solving to build a million dollar pool of money for long-term care, ASSET CARE 2024 is more efficient. This is purely through the lens of creating a pool for LTC expecting it to be utilized.
If you want to crank this up a notch and create an unlimited stream of resources (aka lifetime benefits), the single premium for ASSET CARE 2024 is $319,588.
As a secondary note, the premiums for Asset Care 2024 can be paid as a 5-pay, 10-pay, 20-pay, or to age 95.
Don’t forget that Asset Care 2024 also has:
- 32 different premium combinations
- The only turn-key strategy to fund using qualified money
- The ability to work with clients up to age 80
- Underwriting beyond table 4 (Asset Care can go to table 8)
- Over 35 years of claims paying experience
- Care Benefit Concierge to help manage the claim cycle
- Care Consultant for informal caregiver support
- Ability to pivot to Annuity Care when situation warrants
For more information about Asset Care 2024, you can contact my internal Kelley Hilliard directly at (844) 623-4251 or via email at kelleyhilliard.isp@oneamerica.com
Fridays with Fisher 