Maturing Annuity Opportunity

There are trillions of dollars of non-qualified deferred annuities on the books. With an aging population of annuity holders, the opportunity exists for you to provide a solution to those who are facing the prospect of a maturing annuity contract. At OneAmerica, we have a solution called Legacy Care. Legacy Care is a single premium... Continue Reading →

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 →

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 →

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 →

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 →

Gifting LTC

So, you want some ideas - here is one that I think is pretty cool - using a gifting strategy to purchase LTC protection. When your client's have their LTC funding plan in place, they may wish to help others.  Anyone can make a gift into a Care Solutions product. One idea is to gift... 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 →

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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