For the past few weeks, I have been sharing with you the concept of using qualified money to fund a long-term care policy like Asset Care.  Remember, Asset Care is the only product in the asset-based LTC arena that offers a turnkey funding solution for qualified money.

If you will recall, the strategy is predicated on an IRA rollover to OneAmerica which will then fund an Asset Care policy via annual withdrawal over 5, 10, or 20 years.  And, you should recall that an IRA rollover can be used to fund a policy for both spouses.

But, what happens if the spouse, whose IRA will be used as a funding vehicle, is uninsurable?

We can still make the strategy work.  Rather than securing a joint Asset Care policy, we will simply write an individual one for the healthy spouse using the uninsurable spouse’s rollover to OneAmerica.

The same principle will apply if the IRA owner is of RMD (Required Minimum Distribution) age, the monies withdrawn to fund the Asset Care may count toward them. And, remember, the benefits paid for LTC services will always be tax-free.

Think about your clients, where their monies are, and whether they have a funded LTC strategy in place.  Then, remember, that IRA money might be a funding solution.