Asset Care
-
Gifting LTC
So, you want some ideas – here is one that I think is pretty cool – using a gifting strategy to purchase LTC protection. When your client’s have their LTC funding plan in place, they may wish to help others. Anyone can make a gift into a Care Solutions product. One idea is to gift… Continue reading
-
Asset Care Changes 5.22 update
All issuers of life insurance are required to reprice the products to align with the 2017 CSO mortality table. This includes Asset Care. As a result, the whole of Asset Care has been revised and repriced targeting a launch of July 2019. Training opportunities We’ll be hosting national webinars on the new Asset Care product… Continue reading
-
Q&A -Need Tax Info
Question: All of this stuff that you mentioned in the last article has got me wondering if you have resources available that can help answer design strategies and/or tax questions. What do you have? Answer: Depending upon the nature of your question, we have many resources for you. Here is a list of some. Asset-based LTC… Continue reading
-
Individual Policy 1035 Funds Joint Policy
YOU NEED TO READ THIS ARTICLE AS IT EXPLAINS HOW THIS CAN BE ACCOMPLISHED. Earlier this week, I was asked if there is a way to fund a joint policy using a 1035 exchange from an individual policy. Before I go any further, the basic rules for a 1035 exchange are: the exchange must be… Continue reading
-
Q&A – Guaranteed Benefits
Question: Premiums are guaranteed for both the base policy and continuation of benefit rider (Asset-Care & Annuity Care). Are there other elements of the policy that are guaranteed? Answer: There are guaranteed elements of every policy that extends beyond the premium. With Asset-Care I & IV, for example, the minimum guaranteed benefit that will be… Continue reading
-
Guarantees Matter
If you’ve been around anyone from OneAmerica, one important element of all of our Care Solutions products is the guarantees that the products provide. Let’s focus specifically on Asset-Care. For those of you who have either not heard this or are new to Asset-Care, not only do we provide a guaranteed minimum benefit that will… Continue reading
-
Duration of Protection
It frustrates me to no end when “an expert” declares that anything more than a few years is overkill and a waste of money. Really? Are those folks able to look in a crystal ball and read the future for their client and with 100% certainty say that an extended healthcare event will not exceed… Continue reading
-
Joint Asset-Care
Asset-Care is a unique life insurance based long term care solution that can cover 2 people on 1 policy. When coupled with our lifetime benefit option, Asset-Care has no equal. The strategy is so leading edge that it sports patent number 6,584,446. Simply, the Asset-Care joint strategy creates one pool of long term care benefits… Continue reading
-
Divorce & Joint Asset Care
A Pew Research Study of divorce discovered an alarming statistic, divorce rates for couples aged 50+ have increased over 100% from 1990 to 2017. This presents a challenge for survivorship / joint insurance policies. On a traditional life insurance side, some carrier have addressed this situation by providing a “policy split option” where each spouse… Continue reading
-
Q&A – underwriting inquiry
Question: What tools do you have to provide guidance from an underwriting perspective? Answer: I highly recommend first consulting the Asset-Care Ineligible Impairment list, the Annuity Care Ineligible Impairment List, or Underwriting Guide for some quick guidance then complete and submit the Pre-Underwriting Inquiry Survey to underwriting who will review the information and within 24 hours offer… Continue reading
-
Underwriting Opportunities
It’s well known that OneAmerica’s asset-based LTC solutions have the most reasonable underwriting guidelines in the industry today. Here are just a few of the medical conditions that can be considered for Asset Care and Annuity Care (many are automatic declines with other carriers): Bipolar Disorder Kidney transplant or mild kidney failure Mild to moderate… Continue reading
-
Q&A – Tax Treatment of Benefits
Question: What is the tax treatment of LTC Benefits paid from Asset-Care or Annuity Care? Answer: Our Care Solutions portfolio functions on a reimbursement basis. Since Reimbursement Benefits for qualified LTC services are not taxed, benefits are tax-free. As a side note, Per Diem or Indemnity Benefits are not taxed except those benefits that exceed the greater of Total Qualified… Continue reading
Fridays with Fisher 
You must be logged in to post a comment.