Asset Care
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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
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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
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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
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