When Asset Based LTC Is A Fit

When Asset Based LTC Is A Fit

Most people will need long-term care services at some point during their lives, and the costs can be staggering.

Asset Based Long-Term Care offers your clients an efficient way to plan for these potential expenses with LTC coverage plus as well as a death benefit for cost recovery.

Four potential client profiles for Asset Based LTCi

1 | Clients ages 40-80 with “sleeping assets” or cash, such as:

  • Cash, CDs or bonds that are maturing
  • Proceeds from selling a business
  • Funds from downsizing/ selling a home
  • A recent inheritance

CONCERN: Impact a LTC event could have on their spouse, family and finances
PAYMENT: Single Premium

2 | Clients ages 55-67 closing in on retirement who are:

  • In the peak of earning capacity with excess income for premiums
  • Preferably age 59.5 or older so they can access qualified money not needed for retirement income

CONCERN: The financial and lifestyle risks LTC expenses could have on their spouse
PAYMENT: 5, 10, 20-pay or pay for life

3 | Retirees with IRAs, annuities or income sources to reposition:

  • Required minimum distributions from IRAs not needed for income purposes
  • Annuities not needed for retirement income purposes
  • Social Security benefits not needed for living expenses

CONCERN: Protecting assets/ income and reducing LTC dependence on family
PAYMENT: 5, 10, 20-pay

4 | High earners not rich yet (HENRYs) ages 40-55 who:

  • Have excess annual liquidity
  • May have experienced providing care for a parent or grandparent
  • See the value of buying earlier rather than later
  • Would like to insure their parents for LTC to protect their own savings and retirement assets

CONCERN: Protecting assets/ income and reducing LTC dependence across generations
PAYMENT: 5, 10, 20-pay

Contact your LTC Sales & Marketing Associate today for more information.