c5a83c_fb6e2e592d0b4ff08cedac7e0ca9e3bd84-year old male was worried about being a burden on his kids. He’s had Chronic Lymphatic Leukemia for the past 20 years, he takes no medication for it but was worried that because of his age and his diagnoses, he would not qualify for long-term care insurance.

Luckily as we explained in another blog article, there are some asset based plans that have just 5 questions for underwriting, if you can answer them with a No, then you have a good chance.

So we were able to set this gentleman up with one of those plans. He put in $100,000 that he had in savings and CD’s into the plan. This gave him an immediate long-term care benefit of $294,416. Which allows him to pull out $4,114 a month tax-free for up to 6 years. This plan turns his $100,000 of savings into a much larger tax-free long-term care benefit. The best part is he can still access this money at any time and the cash value will go to his estate if he never uses it.

If you have any questions on these plans or would like more information, contact us or take a look at our examples page.