No medical exam. List of health questions, and if warranted, the insurance company requests medical records. Many people with chronic conditions qualify because they are covering 2 people paying a lot up front. Great question!
Which companies are in this business and write these policies? Are they approved in all states? What happens if one dies shortly after collecting on LT.C policy.
A few questions please, If you only need 5k a month for services instead of the 9k, would this extend the policy life? Does the clock start ticking as soon as one spouse uses it or is it an accumulation of months that are used? Also, who will bill the insurance company? Thank you for your time.
In your example, the 4k/month stays in the bank and extends the policy. There really is no clock ticking. The total benefits are there until used. This company has a care management company that will assist in setting up care and getting it paid for
Very interesting product - a great way to pick up long term care protection. One question: Is it possible to use funds from a qualified deferred annuity to purchase this? I have a 7 year and 9 year deferred annuity. My wife and I have LTC policies that would pay $150 - $200 per day. This sounds like it offers greater protection. We do not have children - so the Life Insurance is not really necessary. I was just curious.
This product has an annuity version that includes no life insurance. The qualified money is transferred into the contract tax deferred and sits there until either one of you need long term care. It is helpful to invest some money outside of this product in an IRA to cover RMDs later. It grows like any other annuity. When either one of you or both of you exhaust the cash value for long term care, the same extension rider kicks in and works like a regular long term care policy. You could also transfer those annuities into the same product I covered in the video. Thanks Hans 919-535-8261 Hans@CardinalGuide.com
What portion of the 200,000K will be added to my RMD at age 73, I am now 68, and as per your example only 110,000 would have been tfd towards life Insurance Premium. My next question is 200,000 the minimum or can I slice/dice for say 100,000.
$22,000 each year toward your RMD. So you will get $22,000 RMD at age 72, 73, 74, 75, 76, and 77. You can slice/dice down to $50,000. Thanks Hans 919-535-8261 Hans@CardinalGuide.com
How. Does. Exist ing without. Blind. Supporters. Sound. To anyone. Cause. All. Made. While working. Is spent. To make. It t work. In. An almost. Descent appearance in
Very interesting. I am already a client and I will be in touch. I just have to watch this again to absorb it all!
Hans, Question about this type of policy.
Do applicants require a medical exam to qualify?
Great topic,
Thanks!
No medical exam. List of health questions, and if warranted, the insurance company requests medical records. Many people with chronic conditions qualify because they are covering 2 people paying a lot up front. Great question!
Which companies are in this business and write these policies? Are they approved in all states? What happens if one dies shortly after collecting on LT.C policy.
A few questions please,
If you only need 5k a month for services instead of the 9k, would this extend the policy life? Does the clock start ticking as soon as one spouse uses it or is it an accumulation of months that are used? Also, who will bill the insurance company? Thank you for your time.
In your example, the 4k/month stays in the bank and extends the policy. There really is no clock ticking. The total benefits are there until used. This company has a care management company that will assist in setting up care and getting it paid for
Thank you both, very interesting approach to Long Term Care and reducing RMD exposure. Is this type of policy new?
About 10 years. Thanks for watching
Very interesting product - a great way to pick up long term care protection. One question: Is it possible to use funds from a qualified deferred annuity to purchase this? I have a 7 year and 9 year deferred annuity. My wife and I have LTC policies that would pay $150 - $200 per day. This sounds like it offers greater protection. We do not have children - so the Life Insurance is not really necessary. I was just curious.
This product has an annuity version that includes no life insurance. The qualified money is transferred into the contract tax deferred and sits there until either one of you need long term care. It is helpful to invest some money outside of this product in an IRA to cover RMDs later. It grows like any other annuity. When either one of you or both of you exhaust the cash value for long term care, the same extension rider kicks in and works like a regular long term care policy. You could also transfer those annuities into the same product I covered in the video. Thanks Hans 919-535-8261 Hans@CardinalGuide.com
@@CardinalAdvisors Good to know. I have to wait until 2026 and 2027 for the guarantee period to end - so I hope they still sell this then!
What portion of the 200,000K will be added to my RMD at age 73, I am now 68, and as per your example only 110,000 would have been tfd towards life Insurance Premium.
My next question is 200,000 the minimum or can I slice/dice for say 100,000.
$22,000 each year toward your RMD. So you will get $22,000 RMD at age 72, 73, 74, 75, 76, and 77. You can slice/dice down to $50,000. Thanks Hans 919-535-8261 Hans@CardinalGuide.com
So, the 299,000-life insurance payout only occurs when both husband and wife die?
It’s a survivorship life insurance policy. Pays after the second death. $299,000 minus long term care benefits paid out
Is the 200 thousand taxable since it is invested in life insurance.
Over 10 years to the tune of $22,000 per year of taxable income
@@CardinalAdvisors So kind of like a RMD - (tax wise), but you end up with life insurance and LTC coverage. Good deal!
How. Does. Exist ing without. Blind. Supporters. Sound. To anyone. Cause. All. Made. While working. Is spent. To make. It t work. In. An almost. Descent appearance in