Asset-Based Protection/LTC

Using Annuities for Long-Term Care Planning

13th Apr, 2015

by

Using Annuities for Long-Term Care Planning

From: elderlawanswers.com

Insurance agents and financial institutions often advertise annuities as the perfect way to generate retirement income. While annuities can be a valuable retirement tool, if you are buying an annuity as part of a Medicaid planning strategy, you need to fully understand what you are getting. And whether an annuity makes sense as part of Medicaid planning may depend on whether you are married…

Asset Based vs. Traditional LTC

1st Apr, 2015

by

Asset Based vs. Traditional LTC:

Traditional Asset Based
Payment option (Pay premiums for life) Premiums can be lifetime/continuous pay or can be limited to a certain number of years – single pay, 10 pay, etc.
Initially the premium is less expensive than asset based LTC insurance Initially the premium is more expensive than traditional LTC insurance
Limited benefits Benefits can be for the lifetime of the insured
Written only on individual lives Written on individual or joint lives