Joint Policy
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Use Qualified Money
Last week, I spoke about using qualified money as a funding vehicle for an Asset Care policy. I even called out other carriers who offer something like the strategy using a Single Premium Deferred Annuity (which is not a turn-key solution). PLEASE NOTE: This is not an endorsement for any particular strategy. It is simple… Continue reading
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Just like OneAmerica but …
I’ve been on a tear for the past couple of weeks about other carriers being “just like OneAmerica”. The only thing worse is when they spin something that OneAmerica has done for decades as something new. It’s not new … it’s asset-based long-term care. That has been a planning solution for nearly 4 decades. And,… Continue reading
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A million five and the qualified money idea
For the past few weeks, we have been focusing on the statement from an advisor that $1.5 million is enough to “self-insure” (his words not mine). Last week, I shared the leverage story of using annuity dollars and Annuity Care II as a way to improve the situation. As I have come to expect, the… Continue reading
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Client Reviews
Last week, I talked about reviewing your book of business in order to mine opportunities. In all likelihood, you already do client reviews but, it serves as a reminder that best way to grow your book of business is with the clients that you already have. The second part to this is that the review… Continue reading
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Just for the kicks – AI says …
Just for the kick of it, I asked ChatGPT to “WRITE AN ARTICLE ABOUT LONG-TERM CARE PLANNING” and this is what it spilled out. Long-Term Care Planning: Why It’s Essential for Your Future When most people think about their future, they envision retirement, travel, and spending time with family. However, there’s another important aspect that… Continue reading
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Time to Get Personal
Last week, I talked about reviewing your book of business and combing for opportunities within your client base. This week, I will talk about reviewing someone’s long-term care plan. “You talk about that all the time,” you say. That is true. Today, however, I am making it personal. I want YOU to review YOUR plan… Continue reading
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Leverage or Self-Funding
Here is a little nugget that is often overshadowed with false optimism. It comes in a few different forms but ultimately boils down to people thinking that it will not happen to them. Regardless of the reason – people believe that they are exempt from a long-term care situation. Worse yet is the cluster of… Continue reading
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Reflections on Asset Care
This past week, I did the first Asset Care launch meeting in New Jersey for the updated product. This leaves Connecticut as the only state in the northeast awaiting the revised product. (Reminder, OneAmerica Financial does not offer products in New York state.) Here are a few observations from the meetings. If you missed the… Continue reading
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A Planning Problem
Quoting Bill Comfort, “A POLICY IS NOT A PLAN!” A policy is a means for funding a future obligation. That is the purpose for an insurance policy is to help people mitigate financial loss as a result of a certain event occurring. It is a risk management tool. That is all – it is a… Continue reading
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The Burr Under My Saddle
There are fundamentally two ways for clients to receive benefits from a long term care insurance policy – as cash (indemnity) or via reimbursement. Which is better? Well, that depends upon which company you are listening to. Carriers who only offer cash tout it as the ultimate in control and flexibility. “You don’t need to… Continue reading
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Tale of the Tape 2
Last week, I compared Asset Care 2024 with another carrier for a single female. Today, it’s a couple. Continue reading
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Qualified Money Self-Directed Strategy
We have been talking a lot about using qualified money to fund Asset Care. That has obviously hit a chord given all the feedback that I’ve received. If you will recall, I have never said that the OneAmerica Financial strategy for funding a policy is the only way to do it. I have said that… Continue reading
Fridays with Fisher 