Client of The Month July 2015

July 15, 2015

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Step Three:
Design Your Custom Plan and Get Approved

c5a83c_8ed3aad8ef7b47eaa4d68daeb83f8e55Married couple 62 & 59, still working with busy lives. Had sufficient assets and wanted to find a way to protect their nest egg and family from the high costs of a long-term care situation if one arose in the future. However, they were concerned about paying into a plan they may not use so we showed them an asset based plan that guarantees a benefit even if they don’t end up in a long-term care situation.

Since they were both working and had good cash flow, we designed a asset based plan that would allow them to contribute equal payments over a 10-year period as opposed to making a single payment into the plan. The clients choose a Limited Pay Option which required payments of $20,000 a year for 10 years. After 10 years the policy would be paid up. This gave each of them a tax-free Lifetime coverage benefit of $7,677 a month! Each person can pull up to the monthly benefit with an unlimited time limit. The plan also gave them a Death Benefit, so if neither of them ever needed long-term care, their heirs would recieve $255,899 as a tax-free death benefit. If for some reason they needed to cancel the plan, they would be able to get back the Accumulated Cash Value in the policy at anytime

This plan provides an unlimited pool of money to cover long-term care expenses protecting their nest egg and they are guranteed to get back all the money they put into the plan even if they never end up in a long-term care situation.

We specialize in designing custom plans that protect our clients and work with their specific financial situation. To see more examples of how we can help, browse our examples page.

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