Long term care insurance is to retirement planning like disability insurance is to income protection. During your working years it is very important to have adequate amounts of disability insurance to protect your income. When approaching retirement and in retirement it is important to protect your hard earned assets with long term care insurance. Needing long term care for just a few years can wipe out hundreds of thousands in assets. Remember, turning “Qualified” assets into spendable after tax income is extremely expensive!
It can make great sense and provide tremendous leverage for the premium dollar to provide yourself with long term care insurance benefits. Today tax qualified long term care insurance, in addition to tax free benefits increasing for inflation, can provide Medicaid asset spend down asset protection through your state Medicaid LTC partnership. So if you purchase $300,000 of LTC benefits you will also be able to keep $300,000 of your own cash/assets from Medicaid spend down!
Today there are also linked benefit long term care plans that guarantee you a return of your premiums whether you live, die or quit. These polices can be either life insurance or annuities and are becoming increasingly popular. Our mission is to offer long term care insurance brokers and clients the best available rates and the right policy.
Whether a traditional or a linked benefit long term care plan is best for you depends on your individual desires and needs. Diversified Brokerage Specialists is happy to help you determine which of these products are best for you. We represent the most competitive long term care companies in the market!
Contact us today to get started.