The Benefits of Asset-Care

long term care, long term planning, asset care, long term care blog

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Long-Term Care… We all have reasons why we haven’t started planning, right?

I have found, though, that people who have started on this path have good things to say.  They feel more in control and less worried about the future. They’ve made decisions about (1) where and how they want to live as they age, (2) who will care for them if they need it, and (3) how financial resources will be used to cover financial costs.

People who plan, also say it’s a positive thing to do for their families. Imagine how hard it would be to figure all this out at the worst possible time – when you suddenly need care. Planning it out now will really help you and your family later.

Another reason to start now is because long-term care is a bit complicated. With time on your side, you can take it step-by-step to figure out what’s best for you.

One solution that has helped many clients here at Paradigm Life is a long-term solution that utilizes the foundation and guarantees of life insurance. This is called ASSET-CARE.

Asset-Care is designed to assist you in protecting your assets by using the safety of whole life insurance. A guaranteed premium allows you to receive a guaranteed amount of life insurance, all of which can be used for qualifying long term care benefits. One of the most financially sound benefits of your premium is that it has a minimum guaranteed interest rate, which builds your cash value every month.

No one likes excess paperwork when tax season rolls around. Thankfully, there are several tax benefits that take stress off your plate. The initial benefit is that long term care benefits are income-tax free. Outside of the long-term care, the life insurance benefit is payable to your beneficiary income-tax free.

Asset-Care allows you to take advantage of existing assets. These range from savings, IRAs, CDs, or other retirement funds. These assets can be placed as your guaranteed single premium. This premium stands out among other standard long-term care insurance because it never increases.

As a Wealth Strategist here at Paradigm Life, I’ve learned that everyone wants to live comfortably, but also take care of their loved ones. Long-term care is a means to get that important process started. In planning for the future, guarantee yourself the peace of mind and protection that long-term care provides.

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