Category: Funding Sources

A Burr Under the Saddle

I have a burr under my saddle.  Actually, I have several but this one bugs the heck out of me. The long term care industry continues to move their sales efforts to a younger market.  I understand the intent and opportunities, but reality says that most people in their 50s do not have extended healthcare... Continue Reading →

Qualified Money for LTC

Earlier this week, an advisor (we will call him Andy) called me with an interesting question.  It went something like this: “I have a client – a single man who is in his early 60s and is unmarried whose parents both recently died after spending a ton of their money on assisted living and nursing... Continue Reading →

Asset Care Return of Premium

Live, Die, Quit – that has been the mantra for asset-based / linked benefit / hybrid Long Term Care solutions since their inception three decades ago.  (Have I mentioned that only OneAmerica and one other carrier have that experience?) We often focus on the Live and Die scenarios.  If you require care while you are... Continue Reading →

Q&A – Qualified Money Funding – 457

Question: Can a 457 plan be used in conjunction with Asset Care funding with qualified money? Answer:  There are two types of 457 arrangements.  One is a governmental 457(b) which can be rolled over to an IRA.  So, we would suggest that the governmental 457(b) be rolled over to an IRA, or merely take the distributions... Continue Reading →

Alternative Qualified Money Strategy

A short time ago, I share the new strategy for funding Asset Care using qualified money.  As I noted, the new name for this strategy is a mouthful – Asset Care Single Premium Funding Whole Life. To review the article – CLICK HERE In it, I shared an example of a couple, Mr. & Mrs.... Continue Reading →

History of Innovation

Asset-based LTC, aka hybrid or linked linked benefit, have existed since 1988.  OneAmerica stakes a claim to being the premier innovator of this space. There is only one other carrier who can make this claim.  What they and the other carriers in the asset-based LTC arena cannot claim is the depth and breadth of solutions... Continue Reading →

Q&A – Annuity Training

Question:  What products require annuity training? Answer: A good chunk of the Care Solutions portfolio is comprised of annuity based solutions.  The following products require annuity training: Asset Care Annuity Funding Whole Life Annuity Care Annuity Care II Indexed Annuity Care Legacy Care ImmediateCare SPIA To complete the required training, go to http://www.oneamerica.com/slproducttraining

Most Beneficial Rate

At OneAmerica, we have a program called "Most Beneficial Rate"  (MBR) which simply does what it says.  Here is what it does. For the 60 days between application and premium-receive date, the rate is locked to protect against rate changes for up to 60 days.  This helps protect the policy pricing from funding delays. The... Continue Reading →

Q&A – Apps Submitted Before June 28

Question:  I submitted an Asset Care application before the deadline, what are my options now that I can see premiums for the "new" Asset Care? Answer:   If an application is pending but not approved by underwriting ...  If an interview is ordered and/or scheduled for the "old" product, then A new Application Part 1 is... Continue Reading →

Asset Care for Qualified Money

One funding approach that has been unique to Asset Care is the "self contained" funding strategy for qualified money and non-qualified deferred annuities.  In the original series product, these were know as Asset-Care II (non-qualified money) and Asset-Care III (qualified money). We have made some enhancements to this strategy which, in my humble opinion, are... Continue Reading →

Q&A – Premium Modes for Asset Care

Question:  With the release of the "new" Asset Care, are the premium modes being changed? Answer: We have made changes to our funding options.  As we have done in the past, we will offer single premium (cash or 1035 exchange), the use of non-qualified deferred annuities and qualified money, and recurring premiums. Recurring premiums are... Continue Reading →

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