As announced December 10, 2020, on Capital Markets Day by Aegon CEO Lard Friese, Transamerica will discontinue sales of our individual, standalone Long Term Care (LTC) business on March 31, 2021.Read More
From the moment we all first received payment for work, we have, either consciously or subconsciously, put a dollar value on our time.
When I was 10 years old, with no earthly expenses, responsibilities, or any other place to be, $10 to mow the lawn at my parents’ house felt like a dream. If it took me an hour to do it, at $10/hour I felt like I was winning big. My expenses were zero, and I was therefore making infinity times my monthly expenses. I had nowhere else to be and no other method of earning, so my opportunity cost was also zero. Every time the lawn would get barely long enough to cut, I’d be asking to do it again, in what I felt like was a chance to cash the same paycheck.Read More
The use of an indemnity Long Term Care (LTC) rider is crucial to keep the life insurance death benefit estate tax free. That’s because any rider benefits will be paid only to the Irrevocable Life Insurance Trust (ILIT) as policy owner, and NOT used to pay extended care costs directly to the extended care provider. Since LTC benefit claims are paid only to the ILIT, this indemnity style LTC rider does NOT create an incident of ownership in the UL policy.
Are you talking to your clients about Long Term Care (LTC) and Linked Benefits? If so, great job! More than likely you have seen the positive impacts these conversations have on your business, as well as the lives of your clients. We know this to be true, which is why we are sharing client facing tools like this downloadable LTC infographic to help start the conversation with your clients.Read More