You’ve worked hard your entire life. You have saved for retirement, and now you are ready for the next chapter in your life. Aside from inflation and rising medical costs a major threat to your financial well being is a health event that requires you to have some form of Long Term Care. Without a strategy in place everything you have worked so hard for is now at risk. An injury, an illness, Alzheimer’s, Dementia … can strike at any time. How can you prepare for this type of risk?
Reposition an annuity through a 1035 exchange/transfer and use the funds for a Long Term care solution.
Reposition a CD, IRA or another asset to fund a Long Term Care solution
Have a permanent life insurance policy as the funding vehicle for LTC. If you die before filing a claim the death benefit will pass to your
Long Term Care can be used for In-home nursing care, Assisted Living, or an LTC facility. You can choose the Elimination period and the duration of the benefit. Having a Long Term Care strategy in place will prevent your children from having the burden of caring for an aging parent while caring for their own obligations.
Bottom line … Our LTC partners offer robust and innovative solutions to meet the needs and budget of our clients. LTC can be an integral part of a retirement portfolio to hedge against this type of risk.
For questions or more details please schedule a consultation.