Asset based Long Term Care
Imagine a special Bank CD Account where your deposit has a money back guarantee, with or without a hold period requirement, your beneficiaries will receive about twice your deposit if you pass away (tax free) and you will have about 4-6 times your deposit available to spend on the cost of care if you get sick and need help (also all tax free). That in a nutshell is “asset based” Long Term Care.
However the account described is held at an insurance company and is backed by its claims paying ability. What a great place to allocate a portion of your emergency funds, savings, money markets or low yielding assets. The absolute best alternative to self-insuring for such a significant risk.
We often hear, “this is too good to be true” and then have to explain that you must to be healthy enough to qualify. Today, there are many options available and Pinnacle Advisors Group is the absolute most experienced resource to help you navigate, position and market “asset based” Long Term Care products in your practice. We were the innovators of this product concept in the industry have helped develop the top selling product now distributed by Lincoln Financial, and MoneyGuard.