Tristate Life & Health Insurance Agency

Medical bills can quickly eat away income. Most individuals plan for retirement setting aside funds in  a 401k, pensions, and other retirement vehicles. 70% of the population at some point will need long term care according to Longtermcare.gov. Those monies set aside for retirement or a raining day will be utilized for long term care, hospitalization, along with other medical care needs, whether they stay at home or,  are cared for at a Long Term Care Facility. What's the solution you say, asset management is the solution.

​

Asset management is an innovative way to manage those dollars by placing them in asset based long term care products such, as a whole life insurance policy or, a deferred or fixed indexed annuity contract with a long term care rider attached to it. These management strategies allow the policy owner to access qualifying care expenses or death benefits tax free, while allowing the cash value to continue to grow; a second benefit is, if the funds are not utilized for long term care the funds can be transferred to beneficiaries (including charities) the policy owner assigns in the policy contract.

 

By managing assets utilizing long term care strategies individuals are securing their assets, which allows the freedom to build financial portfolios that create growth and retirement income. Individuals also have the capability to transfer wealth later. 

 

In summary asset management provides the following benefits, versatility by allowing financial professionals to multi-purpose client dollars, retirement nest egg protection, tax free withdrawals on qualified long term care expenses, and death benefits payable to beneficiaries, premiums are guaranteed to never increase, the products are financially solid, clients can possibly avoid underwriting restrictions such as age and/or health because it is secured with an asset-based product. These products are not traditional long term care products and can be customized to specific needs of an individual or a couple.  

​

​