Pay for It With Pre-Tax Dollars?
For those who are willing to take a deeper look at the opportunities and benefits available, the rewards can be significant.
Specifically, with the Pension Protection Act of 2006, and its provisions coming fully into effect in 2010. We discussed that some on the “Meeting LTC Costs” page. Of course, there is more to it–for those serious about their likely need, and how best to prepare.
The problem is that most people will need one or more types of care and services which will exceed their ability to perform for themselves. The types of care necessary are quite varied, and may occur in different surroundings, such as:
The ways people have met these large costs:
IF ONLY THERE WERE A BETTER WAY . . . .
There is. Back to the Pension Protection Act. Congress addressed the problem with some very specific legislation–legislation which provides some significant income tax advantages to encourage people with assets to help themselves before their need is at their front door, knocking loudly and insistently.
Just “any ol’ annuity” won’t do.
Part of the Act focuses on our Long Term Care funding, and receiving income tax and other benefits. To do this requires the use of carefully constructed and approved annuity types and life insurance:
And, many times there is the opportunity with specially-constructed life insurance policies to coordinate their features and benefits into your plans, not only giving you more flexibility, but enabling unused benefits to return a sizable sum, perhaps replacing much of the amounts expended, so that beneficiaries are provided for also.
Obviously, LTC is a “big-ticket” item. It requires caution and experience to make sure you have a most favorable outcome. We will be delighted to discuss things and work with you to that end. Let us help!
St. Charles, MO 63303
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