How It Works

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Basics of a Plan

Decide on monthly income tax free benefit

Choose how long it lasts – 24mo/48mo/60mo plus 

Total amount of value – monetary benefits for your policy

Multiply the monthly benefit times the chosen number  of months to know your policy lifetime benefit pool. Example: $4,000 per mo x 48 months+ = $240,000 total value to start (will grow with inflation option)

Elimination Period – the time you wait until your claim pays. Normally 90 days but you can decide what is right for you.

Optional riders – most popular, inflation

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How to use your plan

Long Term Care is Custodial Care, NOT medical care.

It is based on the use of ADLs – Activities of Daily Living:

Eating · Bathing · Dressing · Transferring
Toileting · Continence

When the time comes—due to illness,  accident, or cognitive impairment AND you are unable do 2 of the 6 ADLs , without assistance—your claim can start.

NOTE: Medicare is medical insurance and does not cover custodial care. Your LTC plan covers custodial care.

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Types of Plans

Traditional – stand alone, pure insurance

Hybrid, asset based on life insurance or annuities (offers a death benefit, cash value growth, LTC coverage, firm premiums).

Life Insurance with LTC Rider

Annuities – LTC qualified – with 1035 exchange, most annuity growth, capital gains, is tax free when used for Long Term Care.

Short Term Care – limited to 360 days

We represent over 10 insurance carriers and can compare plans so you are confident with your final decision. There is full transparency.

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Options to pay for your LTC plan:

  • Income

  • Assets

  • IRAs, inherited IRAs, qualified funds

  • Pre-59.5 age, withdrawals  for LTC plan penalty-free

  • 1035 exchange using Life policy or annuities

  •  Health Savings Accounts – HSA

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Payment Options

Single Pay – paid in full at time of issue

Pay over a set number of years – 5, 10, 15, 20, or continuously

Pay monthly, quarterly, semi-annually or annually

Learn what works for you and how the the basics of a plan will complement and protect your current assets and lifestyle.

Make your plan as unique as you are!

Have a policy already?

Let’s review it so you really know what you have, and then when the time comes…no surprises!

Talk with Stephanie