“Could Your Long-Term Care Premiums Be Hiding in Plain Sight?,” by Christine Benz, Morningstar

“Last week I wrote about the role that health savings accounts can play in paying for long-term care; HSA owners can use their accounts to pay the premiums or to cover eventual costs out of pocket. (There are pros and cons to either strategy.) There’s another potential avenue, too, albeit a more complicated one. People with existing annuities or whole-life insurance policies can take advantage of what’s called a 1035 exchange to swap into long-term care insurance–either a standalone long-term care insurance policy or a hybrid life-insurance/long-term care or annuity/long-term care product. Such an exchange allows the investor to obtain a product that better fits their current needs and it can also be incredibly tax-efficient, assuming it’s carried out correctly.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

Open the article for details.

Could Your Long-Term Care Premiums Be Hiding in Plain Sight?

#premiums
#goldencareagent