If you are not familiar with what a Pension Protection Act compliant deferred annuity does … this 1 minute video will give you a highlight of what it does. 

Remember this …. not all deferred annuities meet the requirements to be PPA compliant.  This means that income doublers & confinement waivers DO NOT meet that criteria.

To qualify as PPA compliant, the annuity MUST

• Use HIPAA (1996) triggers to qualify for benefits, AND
• provide tax-free distributions for care at home or in a facility.

At OneAmerica Financial, the Annuity Care products ARE PPA compliant!

So – let’s get to the point of today’s message. 

According to a report from the Committee on Annuity Insurers produced by Gallup & Mathew Greenwald Associates,

• 79% of annuity owners responded that they originally bought their annuity “to avoid becoming a burden to their children financially”, and
• 90% said that they “try to avoid withdrawing money to avoid paying extra taxes”, and
• 67% have it as “an emergency fund in case of catastrophic illness or nursing home care”.

So, consider this …

… since many annuity owners don’t take their money because they want to avoid paying taxes but have identified their annuity as a source for extended care funding – exchanging their annuity for a PPA compliant annuity like Annuity Care can allow them to have their cake (the annuity benefits of tax-deferred growth) and let them eat it too (tax-free distributions for LTC services).

Why not look at your clients and ask them what their annuity is for.  Then, give my internal Kelley Hilliard a call and ask for an Annuity Care illustration.  You can reach her via email at kelleyhilliard.isp@oneamerica.com or at (844) 623-4251.