For the last couple if weeks, I have been sharing the terminology leverage as it relates to a long term care funding strategy. Of course, this is unique to insurance solutions where pennies are leveraged into dollars.
Have you considered that there is another form of leverage that can be applied to the long term care funding conversation?
That leverage is provided by the tax code.
Granted, it does not offer the boost than an insurance policy but it is leverage nonetheless.
In this instance, we are going to focus on the trillions of dollars in nonqualified deferred annuities that are owned in America. Using the tax code to our advantage, we can leverage the tax-deferred growth within nonqualified deferred annuities into tax-free money to pay for long-term care support and services.
This is made possible because of a provision in the Pension Protection Act of 2006.
Your nonqualified deferred annuity can be exchanged (via section 1035) into Annuity Care. And, simply, it will continue to grow year over year until it is needed to be accessed to pay for long-term care services. That distribution for LTC is TAX-FREE!
In order to make this happen, you need to be:
- Under the age of 88,
- Own a nonqualified deferred annuity of at least $50,000, and
- Be able to successfully answer the 5 questions that you see below.
Once that is done, your Annuity Care I or Indexed Annuity Care policy can be instantly approved when the application is submitted electronically.
Contact my internal sales partner Kelley Hilliard at (844) 623-4251 or via email at kelleyhilliard.isp@oneamerica.com for more information or to secure your copy of the Step by Step Guide to Long Term Care along with the Care Planning Worksheet.
Fridays with Fisher 
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