Asset-Based LTC Plan For Key Employees

Asset-Based LTC Plan For Key Employees

There is an unsubstantiated story that after receiving the Nobel Prize for Peace in 1979 Mother Teresa asked how much the medal, with its four-plus ounces of gold, was worth.

One might be put off by such a mercenary inquiry had it not come from the founder of the Missionaries of Charity whose 4000 member sisters tended to the needs of the poor in over 100 countries. Few doubted that whatever a sale might fetch, the money would go to the ministries, as did her cash prize of nearly $1,000,000 in today’s dollars.

In a less philanthropic frame of mind, many a lifelong employee has probably looked at the gold watch awarded for long service and wondered how it might help financially through the coming retirement years.

Perhaps asset-based long-term products are the vehicle that allow employers to give key people something to look at after their employment for more than just the time of day.


A 55 year old, male executive with an unfunded Long Term Care plan. The employer can fund a plan of care, while still allowing him to retain flexibility down the road.

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$10,000 Premium Employer Pays $10,000 in Premium for 10 Years
Age 65 Employee has access to $100,000 cash surrender value
Death Benefit of $139,000
LTC Pool of $470,000
Age 85 Employee has access to $100,000 cash surrender value
Death Benefit of $108,000
LTC Pool of $848,000

Mother Teresa was listed among Gallup’s Top Ten Most Admired Men and Women eighteen times. In Gallup’s 1999 poll of Most Widely Admired People of the 20th Century she was in first place among almost every demographic.