Last week, I shared with you the concept of using qualified money to fund the Asset Care long-term care policy that provided unlimited benefits.  In the discussion, I used the example of being IRA-heavy with a chunk of it sitting as an inherited IRA.

As you should know, a nonspouse inheritance has different considerations than that of a spousal beneficiary.  Made simple – that inherited IRA must be liquidated in 10 years.

With Asset Care (in most states), we have a couple of funding options that can work with an inherited IRA used as a funding source.  Those are a 5-year or 10-year premium window.  For other qualified money scenarios (traditional IRA, 401k, 403b), there is an additional funding window … 20-years.

I shared the basics of how the strategy works in last week’s FWF. 

Now, here is something important to remember – the OneAmerica Financial Asset Care for qualified money is the ONLY turn-key solution in the market.

Also remember, regardless of how a premium is paid, OneAmerica Financial provides the only long-term care policy that offers unlimited benefits!

So, consider this, we can use a $250,000 IRA rollover to produce an unlimited tax-free LTC benefit for both the IRA owner and their spouse!

Here is a quick visual of how it works.

In reality, you can design the Asset Care policy for any benefit configuration that you want.  It can be long in view offering unlimited benefits or it can be short and fat with a pool of resources.  It can be built without inflation for older clients or it can include inflation for younger clients.

Like all Asset Care – the solution is customizable!

Learn more about this funding strategy by joining one of our upcoming webcasts.

Or, check out my qualified money funding resource page.