The Baron Group and Tim Mobley specialize in asset based life and long term care insurance for seniors.
Many seniors cannot cope with the idea of paying regular premiums to cover their long-term care (LTC) risk.
Fortunately there are alternatives. With a single premium payment one can buy
a long-term care benefit that’s linked to a life insurance policy or a fixed annuity.
The principle is to take money out of existing emergency funds and use it to buy either a deferred fixed annuity or a life insurance policy with a linked long-term care
benefit. With the deferred annuity, seniors can get competitive growth on their money plus LTC benefits if needed. If not, the money is there for their heirs upon death.
It’s important to consider the following benefits says Timothy Mobley:
- Replacing multiple regular premiums with one lump sum payment.
- Creating a tax free inheritance.
- Avoiding the perceived loss of premiums for not ever needing LTC.
- Building equity by accruing tax deferred interest until you money is withdrawn.
- Preserving money not used for LTC for heirs by leveraging that money to increase your estate.