GBS News: Asset-Based LTC Planning | Index Loans | Underwriting | and more
Published on
May 18, 2020
Your Guide to Asset-Based LTC Planning
We recently hosted a OneAmerica webinar featuring their portfolio of Asset-Based LTC products which offers unbeatable value and innovative features.
Unique Benefits
- Lifetime Benefits available – no other LTC carrier offers this in California.
- Guaranteed Premiums – no risk of future increase.
- Joint-Life/Survivor Coverage – unique patented joint-life product means a couple can share one pool of funds for less premium than two policies.
Sources of Funds
In addition to cash or CDs, they have specific product solutions designed to be funded by:
- Qualified plan money from IRAs, 401k’s and 403b’s.
- Non-Qualified Annuity funds – the Pension Protection Act of 2010 allows
- TAX FREE annuity rollovers for the purpose of buying LTC insurance.
- And of course 1035s from existing life insurance contracts.
Guarantees
All products are based on interest-sensitive Whole Life. Cash values, premiums and benefits are all fully guaranteed.
Target Market
Any client needing LTC – including clients with surplus assets in qualified plans, non-qualified annuities, CDs or life insurance policies. Level pay plans are also available.
Call us today for quotes and more information.
Resources:
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New Capabilities for Electronic Health Records (EHR) Access
In order to expedite the underwriting process for cases where medical records (e.g., APS) cannot be accessed through traditional channels, John Hancock has introduced their expanded capabilities. Click below for more details.
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Survivor IUL Available in CA
Eclipse Survivor II Indexed Universal Life (IUL) is now available in CA for a competitive joint life solution. As a second-to-die, accumulation-focused policy, Eclipse Survivor II IUL offers:
- New indexed accounts, including an uncapped option.
- Joint coverage for cost savings.
- Strong cash value growth potential.
- Fixed, indexed and variable loan options.
- 2017 Commissioners’ Standard Ordinary (CSO)/Principal-based Reserving (PBR) compliant
Find out how Eclipse Survivor II IUL could be the joint life solution your client is looking for.
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The Potential of Index Loans
Many IULs offer two different kinds of loan structures. Index loans offer advantages of market upside but are not without risks. For a good introduction to how indexed loans work click on the link below.
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Zurich Underwriting Updates
For Issue Ages up to 60 years old, Zurich will continue to make offers on cases that are Table H or better, except if one of the following COVID-19 comorbidity conditions exists. If one of the following conditions exists, we will make offers on cases that are Table D or better:
- Obesity
- Chronic respiratory conditions, such as COPD, asthma, emphysema, etc.
- Chronic kidney disease
- Diabetes mellitus
- Heart disease
- Cancer
- Hypertension
- Click below for more conditions.
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We at GBS Insurance thank you again for your business. For more information or insurance quote requests, please contact your brokerage manager or give us a call at (800) 473-5966
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For agent use only - not for use with the general public.
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Corporate CA License No. 0D87913
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21820 Burbank Blvd., Suite 301
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GBS Insurance and Financial Services, Inc. do not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
© 2020 Arthur J. Gallagher & Co.
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