Client of the Month January

January 25, 2016

noun_assignment document_3078788

Step Three:
Design Your Custom Plan and Get Approved

piggy bank

Female 62, State Partnership Program

c5a83c_b72ec599df004e60b95c35b5c0800625This client was worried about having to spend through her retirement savings should she end up in a long-term care situation. She was also greatly concerned about relying on Medicaid and wanted to remain in control of her care options as long as possible. We helped her select a traditional long-term care insurance plan with an initial monthly benefit of $5100.00 and an initial pool of money of $186,150. Her benefit will grow by 3% each year so at age 82 she will have a monthly benefit of $9211.20 and her total benefit amount will increase to $336,207. This is also a State Partnership qualifying plan which means she has an extra level of protection. Should her health become compromised and she uses all of her long-term care insurance benefit, she will be able to apply for Medicaid and protect and additional dollar of assets from the spend-down requirements for every dollar the insurance company paid on her behalf through her policy. This plan will cost the client $256.59 per month and is with an A+ mutual company who has never raised rates on their existing clients. If you would like to find out more about options like this, please contact our office directly.

In This Article

More Posts from 525 Advisors

Scroll to Top
Powered by Top Rated Local®