How to Provide Over $1M of Long-term Care Coverage (and still have access to your money)‼️

(be sure to checkout the video of this analysis too)

If you have completely funded your own retirement, there’s really only one thing that could wipe you out financially…

A Long-term care event.

It’s no secret that a long term care claim can easily cost upwards of $100k/year.

And 70% of couples will need some type of long-term care…🫣

But what if you want the protection without paying HUGE premiums for something you might not use⁉️

Well, there are options.

Here are 2 ways to get over $1M of long-term care coverage (without giving up access to your retirement money)

✅ Indexed, Long-term Care Hybrid Policy

At 55 you park $200k into this life insurance policy with long-term care benefits (aka an indexed universal life, or a whole life policy with long-term care options)

Your death benefit (which is your long-term coverage) doubles on day 1 (it can potentially more than double if you are younger as well).

Your cash value is either linked to the market, or grown through the insurance company’s general account which you can reasonably expect to earn a 4–7% annual return.

At age 80 that $200k is projected to be worth a little over $780k (which is $16k/month of long-term care coverage for 4 years)

Now if you don’t need the long-term care, or use it, that’s ok….

That money becomes a 100% tax-free wealth transfer to your loved ones.

The best part is that at ANY point in time, you can take your initial $200k back out of the policy (so it serves as a safety net savings account in retirement as well) 👏

✅ Long-term Care Rider on Your Income Annuity

If you’re using an annuity as part of your income strategy there’s a nice feature that can really assist with long-term care.

For a very nominal cost (between 0.1% and 0.2% per year) you can add a long-term care rider that can DOUBLE your income in retirement for purposed of paying for long-term care.

This means that if you bought an annuity at 55 for income at 65 and were collecting $44,000 per year…

That amount would double at age for supplemental long-term care coverage…

Meaning an additional $224,935 of long-term coverage…

The best part is that the market is crediting the contract typically crediting a minimum of 1.3% per year, so you aren’t even paying a dime for this long-term care either (it’s being funded by the stock market indexes).

Bringing your total long-term care coverage to over $1M without paying premiums to an insurance policy you might not use.

Let’s chat 💬😎