Annuity Care
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Consider the Consequences
I’ve done this before – asked AI for their summary of a topic. Today, I asked it to explain the consequences of not having a long term care plan. Here is what it said. “Neglecting long-term care (LTC) planning can lead to the rapid depletion of life savings, loss of control over your care preferences,… Continue reading
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Can you self-fund?
A short time ago, I was looking at the Federal Long Term Care Insurance Program website and came across a page dedicated to self-funding. First off – I was excited that they actually used the terminology self-funding and not “self-insurance”. It is my premise that “self-insurance” in the context of LTC planning is faulty as… Continue reading
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Claims – it’s more than just money
I’ve said this before and it is something that I believe is worth reiterating. OneAmerica Financial offers more than just money to pay for a long-term care claim. OneAmerica offers resources. Many of our peers do an exceptional job of selling their solutions on the vision of having money to use as you like and… Continue reading
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Caregiving Conversation Podcast
OneAmerica Financial offers a bi-monthly podcast called “Caregiving Conversations” – it can be found on the OneAmerica website at https://www.oneamerica.com/insights/podcasts-and-webinars The most recent podcast featured a conversation between OneAmerica Financial Vice-President of Claims Amy Chinn and Amanda Clark-Wahl from Cocktails & Caregivers who shared her personal caregiving story and the mission behind her nonprofit. Amanda’s… Continue reading
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Qualified Money in Annuity Care Example
Last week, I shared information about using qualified money with the Annuity Care products. This week, I am sharing a quick example. Remember, this strategy employs both the base annuity and the continuation of benefits rider which means that the client needs to be insurable by Annuity Care standards. Remember, we can write up to… Continue reading
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Qualified Money with Annuity Care
A question that occasionally comes up is can I use qualified money with a product like Annuity Care? The answer is that we will accept qualified money in the base portion of Annuity Care 1 or Indexed Annuity Care. We cannot accommodate qualified money with Annuity Care 2. All of this comes with a giant… Continue reading
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Just Like OneAmerica except …
Last week, I shared a little bit of what I hear from many people who are unaware of the OneAmerica Financial Care Solutions product suite. In many cases, it starts with an idea of leveraging annuity money into tax-free long-term care benefits (something that OneAmerica has done for 2 decades). And, expands when I hear… Continue reading
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Just like …
This past week I’ve heard a lot of people say, “just like XYZ’s product” when referring to Annuity Care. This really pisses me off. First – that other carrier’s product is a clone of Annuity Care. In this case, the most often cited product clone is a clone of Annuity Care II. Next – that… Continue reading
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Underwriting – Get off to a good start
This week, I want to pull your attention from the annuity product solution and talk about underwriting. At OneAmerica Financial, all of the asset-based LTC solutions are underwritten. And, the level of underwriting is dictated by the product, plan design, funding strategy, and client dynamics such as age and health. Here is an important reminder… Continue reading
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3 examples of what is not LTC
Last week, I mentioned a concern that I have regarding deferred annuities and the perception that an income doubler or waiver of charges equates to a long-term care strategy. As you should be aware – they clearly are not long-term care and all literature has that footnoted somewhere. Let’s be real. How many people read… Continue reading
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Ask “what if” to that other annuity solution
Over the past few weeks, I’ve shared, thus the use of Annuity Care & Indexed Annuity Care for both a nonqualified and qualified annuity funding opportunity for LTC funding. Along with that, I shared the only turn-key strategy in the industry with Asset Care. They all garnered push-back from people telling me, “I can do… Continue reading
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Qualified Money Funding with Annuity Care
So, your advisor tells you that your “$1.5 million is enough to self-insure.” For over a month, I have challenged that premise using a scenario that represents an average duration situation 10 years in the future using today’s dollars as a cost benchmark. Needless to day, after a 3 year duration situation, the account value… Continue reading
Fridays with Fisher 