Long Term Care
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Illustrating Qualified $
Thank you for everyone who joined me for my webcast yesterday where I discussed using qualified money to fund long term care. My next webcast is Thursday, April 9 at 11:00 when I discuss how to get tax-free long term care funding from the tax-deferred accumulation of a deferred annuity or cash value life insurance.… Continue reading
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What Asset Care Provides
For the past few weeks, I have shared ideas and information about using qualified money as a funding source for Asset Care. What I have not done is share with you what it offers your clients. Aside from using a resource that will be required to be tapped for income by the age of 72… Continue reading
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Use IRA to Fund LTC with Asset Care
Funding Asset Care with qualified money (traditional IRA, 401k, 403b, etc) is a simple concept. Here is what you need to know at a high level. You will certainly have questions – please contact Justin Fox at (844) 658-3725 or via email at justinfox.isp@oneamerica.com . Register for my upcoming webinar taking place March 5 at… Continue reading
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SECURE Act Creates Opportunity
The Setting Every Community Up for Retirement Enhancement Act of 2019, better known as the SECURE Act, was signed into law on December 20, 2019. The SECURE Act is aimed at increasing access to tax-advantaged accounts and ensuring that older Americans do not outlive their assets. But, it also contains some changes that create an… Continue reading
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Your Clients Aren’t Average
Some carriers like to claim that your clients don’t need LTC protection beyond the average length of a care need. But preparing for only the average length of a care need can leave a large gap. The Story of Averages The average length of an LTC need is typically longer for women than men (3.7… Continue reading
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It’s About The Claim
Our purpose is to provide the funding resources for our policyholders when their health is compromised and they require long term care services. Last year, I shared some claims information with you. Today, I plan to share a little information that will be tremendously helpful when a client contacts you to initiate a claim. The… Continue reading
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OneAmerica & Alzheimer’s Assoc.
Why do you stress lifetime benefits? Here’s why … Today, one in three seniors dies with Alzheimer’s disease or another dementia1. Research brings us answers every day that move us closer to a world without Alzheimer’s, but the reality is that most people don’t prepare for the long-term care needs of Alzheimer’s until they or someone… Continue reading
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Asset Care & Executive Bonus
A Controlled Executive Bonus Plan — also known as a Restrictive Bonus or Section 162 plan — is an agreement that typically allows employers to use tax deductible money as a “bonus” to fund a life insurance policy for high-value employees. With Asset-Care, that policy also includes benefits for qualifying long-term care (LTC). This agreement… Continue reading
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IRS LTC Numbers for 2020
Every year around this time, we start sharing numbers for the following year’s planning. Here are the inflation adjusted LTC numbers for 2020 that you might find useful. With the Asset Care product line identifying Acceleration of benefit (AOB) and Continuation of Benefit (COB) charges, the LTC premium associated with the policy is identifiable. The… Continue reading
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Self-Funding isn’t Self-Insurance
Last week, I shared my opinion about self-insurance. In reality, self-insurance is pure risk retention. Said another way, it is self-funding without any “stop-loss” provisions. At a minimum, reviewing the extended healthcare self-funding / risk retention strategy in conjunction with the client’s income plan is imperative to making it as solid as possible. Most importantly,… Continue reading
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Self-Insure = Risk Retention
According to The Motley Fool in an article from February 24, 2018, the average retirement lasts for 18 years and begins at age 63. While the article is focused on retirement duration and shares a few facts about longevity, it opens the door for a conversation about the biggest financial risk to the retirement plan …… Continue reading
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A Little Pool Anyone?
Here we go again – the discussion of addressing the extended healthcare (aka long term care) funding issue. For many, self-funding ends up being the answer. By default or by decision, people elect to bear the full burden of the cost associated with an extended healthcare event and not elect an insurance-based solution. So, here… Continue reading
Fridays with Fisher 
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