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 us today for more information.

Share this post

X