Category: Funding Sources

Asset Care – Policy Changes

As with every product release, there are changes that come at the policy level.  This is true with Asset Care.  Here are a few changes that you MUST know. The Elimination Period to qualify for benefits has be altered to zero days for home care and 90 days for facility based care.  Remember, those are... Continue Reading →

Asset Care Apps During Transition Period

For application submitted for "old" Asset Care who would like to change to the "new" Asset Care, here are the guidelines. 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 required, and you need to... Continue Reading →

Single Premium Drop In – NEW FEATURE

With the launch of the new Asset Care, a truly new feature is being introduced - the Single Premium Drop In Rider (SPDR).  This rider will be available only with the new Asset Care when funded using recurring premiums. It will be available on July 1 when the product launches.  For July 1 launch states,... Continue Reading →

Q&A – “New” Waiver of Premium

Question: With Asset Care, how does the "new" waiver of premium work? Answer: With the updated Asset Care, the way the waiver of premium (WOP) functions has changed.  Simply, the WOP waives charges for both the base policy and Continuation of Benefit Rider when an insured is  on claim.  Once the claim ceases, the premium... Continue Reading →

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 →

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 →

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 →

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 →

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 →

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