Annuity Care
-
Pension Protection Act Basics
The Pension Protection Act, also known as Public Law 109-280, is a wide-ranging piece of legislation that was signed into law August 17, 2006. While the majority of it deals with changes and reforms to pension governance, Section 844 of the act deals specifically with annuities, long-term care and new tax advantages. Since January 1,… Continue reading
-
Q&A – 1035 exchanges
Question: Is there any third party information available about using existing life insurance or annuity policies to fund a Care Solutions policy? Answer: Yes. The piece that I like the most is produced by the American Association for Long Term Care Insurance. The booklet, entitled Guide LTC Planning Using 1035 Exchanges. I encourage you to take a look at… Continue reading
-
Q&A -“older” client
Question: I have a client who is 81 years old and very healthy, is Asset-Care a viable product ? Answer: We can consider Asset-Care for someone over the age of 80 if they are part of a joint policy where the joint equal age falls within the maximum age range and that person can qualify from an… Continue reading
-
Q&A – small cash value 1035
Question: My client has a small life insurance policy, can I use the cash value from that policy to fund the Continuation of Benefit Rider (COB) of an Asset-Care policy? Answer: Heck yeah! The Pension Protection Act allows for 10335 exchanges from life insurance and annuities into “qualified” LTC products like Asset-Care & Annuity Care. If your… Continue reading
-
Funding the COB using an HSA
As a reminder, our Care Solutions Continuation of Benefit Rider (COB) is qualified LTCI. Tax-qualified LTCI are qualified medical expenses under IRC Section 213(d), and so are eligible for payment or reimbursement using tax-free Health Savings Account (HSA) distributions. Eligible premiums are the lesser of the actual premiums paid or “age-based” premiums. For a married couple, add the age-based… Continue reading
-
How will you pay?
If you have heard my Care Solutions”dog and pony”, I set things up in the present tense with one question. “If you your health was compromised severely enough to require substantial assistance during your recovery, how would you pay for it?” No matter what your clients tell you, they are sharing their current and likely future… Continue reading
Fridays with Fisher 
You must be logged in to post a comment.