Indexed Annuity Care
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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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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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Look at Your Annuity Clients
Do you remember the Eveready Battery ad with Robert Conrad? Where he pitches the product and the says “I dare ya”. Well, this is my Robert Conrad – Eveready Battery moment … Take a look at any your book of business, take a good honest look at all of your clients. I dare you to… Continue reading
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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
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Indexed Annuity Care Guaranteed Growth for LTC
Indexed Annuity Care is not intended to replace another annuity product that is intended to generate income. It is designed to provide a protection buffer for other income producing assets. Like many indexed annuities, Indexed Annuity Care offers upside growth with downside protection while in the accumulation phase BUT it is the ONLY indexed annuity… Continue reading
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Annuity Care – tax free LTC for life
When most people think about annuities, they do not think of long term care. Think think of either what Ken Fisher (no relation) is shouting about how bad annuities are or the income feature that they have been sold as part of a VA or indexed product. This is shallow thinking on both parts if… Continue reading
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Eligible Person
As you have read in previous installments of Fridays with Fisher, the Pension Protection Act created an opportunity for your clients to fund any of our Annuity Care products via IRC section 1035 exchange from cash value life insurance or deferred annuity proceeds (cash can also be used as a funding source). With our Annuity Care products, a single annuitant can… Continue reading
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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
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“Older Client” Annuity Solution
I have said this before and I will say it until I am blue in the face, no other carrier can provide a long term care funding solution for an older client like OneAmerica. Look at the industry. Look at the trends in the industry. Every carrier is pressing to acquire the young and healthy… Continue reading
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Best Way to Leverage
First off – thank you for your ideas, feedback, suggestions and questions. The whole purpose of this weekly distribution is to share ideas with you. One question that I am asked often is “why do you talk about Annuity Care so much when you have the whole Care Solutions portfolio to talk about?” It’s a fair… Continue reading
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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
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Q&A – COB tax deductibility
Question: I am correct that the Continuation of Benefit Rider premium may be deductible? Answer: That is correct. Depending upon a who the premium payer is and how they file their taxes – premiums may be deductible. Our Tax Guide can address this from an individual plan to one paid for by a C-corp – it is a very useful tool for… Continue reading
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