Here’s a funding source that you may not be aware of – a fixed annuity! We partner with a carrier who has years of experience in the long-term care marketplace, and allows a client to use an existing fixed annuity contract that isn’t earmarked for another purpose, and reposition (1035 exchange) it into a long-term care contract.
- and... the monthly LTC benefit will be tax-free, even if that contract has substantial gains;
- and... a spouse can be added as an eligible person to receive the same benefits;
- and... if long term care is never needed, the annuity value will pass on to named beneficiaries at death.
Call Sheryl or one of our marketers to talk about this option or other solutions we offer. It’s definitely a topic that you’ll want to include in your conversation with clients.