Fridays with Fisher
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Q&A -PA & MA
Question: Will the “new” Asset Care be approved in Pennsylvania and Massachusetts? Answer: Yes! The “full” product will be available. This means that on July 1, joint policies will be available for PA residents and the Continuation of Benefit will be available in MA. Continue reading
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Asset Care Revisions Coming in July
This should come as no surprise. Noise about Asset Care changes has been swirling around for months. A couple weeks ago, we announced the changes that are targeted to roll out in July. Here are a few of the enhancements that you will see in the updated Asset Care. zero day elimination period for home… Continue reading
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Q&A – Transition Rules for Asset Care
Question: What are the transition rules for Asset Care product launch in July? Answer: The transition rules for Asset Care are as follows: June 28, 2019 eApps must be locked (apps not yet signed but sent for signature) Interview must be ordered with LTCG Signed paper app must be received by Home Office by end… Continue reading
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I’ve got this
A long term care claim does not need to be permanent for an insured to receive benefits from a policy. As noted in “Is it covered?”, life insurance with chronic illness riders will not provide coverage for services that are not permanent in nature. True LTC policies (traditional and asset-based), cover both permanent and recoverable maladies.… Continue reading
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Is it covered?
I have a few concerns about using life insurance as a funding strategy for long term care. I don’t mean in the sense of a true linked benefit / asset-based LTC product like Asset-Care. What I am referring to is the “add-on” coverage provided by a rider on the life insurance policy. “Oh, by the… Continue reading
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Q&A – Indemnity v Reimbursement
Question: There are a couple companies who offer indemnity plans. Do you have any information how they compare to reimbursement plans? Answer: We certainly do. As a matter of fact, we also have a PowerPoint that can accompany this Indemnity v Reimbursement one pager. To get the PowerPoint, please contact Justin Fox. Continue reading
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Q&A – Funding with SPIA
Question: Last week, you shared the funding sources. Am I correct to assume that a single premium immediate annuity is a viable funding strategy? Answer: The “LTC Protection at Your Fingertips” piece that you mention is an excellent source for high-level funding information. Now to your question, yes – a SPIA can be utilized as… Continue reading
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Asset-Care … Five Points
Let’s have a little talk about Asset-Care. Specifically, I want to highlight five points that separate Asset-Care from the pack. Joint-LTC Benefit Asset-Care’s joint solution offers a unique value as it is the ONLY asset-based LTC policy that offer true joint benefit. When coupled with the lifetime continuation of benefit rider, it is untouchable by… Continue reading
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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
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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
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Q&A – Funding Sources
Question: With so many different strategies for funding, is there a single place where I can go to get that information? Answer: There certainly is. The “LTC Protection at Your Fingertips” piece simply outlines all of the funding sources as well as the products that they can be used to fund. Remember, when using the… Continue reading
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Claims Concierge Video
Care Solutions from OneAmerica has provided LTC benefits for nearly 30 years. (If you didn’t know that, you either haven’t heard me speak or I blasted through that so fast that you never caught it.) Not many carriers in the linked benefit / asset-based LTC / hybrid space can say that. In fact, there is… Continue reading
Fridays with Fisher 