Sales idea of the month
using qualified money to fund a LTC Plan
There are TRLLIONS of dollars in retirement accounts, most of it held by baby boomers. Here is how you can set up a great LTC program for someone using qualified money.
- Purchase a IRA Single Premium Immediate Annuity (SPIA). This is a rollover of qualified dollars into IRA SPIA.
- Purchase as asset-based life/LTC Plan with a 10-year payment period.
- Set up the SPIA to distribute funds annually over the 10 year period to cover the premium.
Here is an example of the net effect for a 60 year old married female:
- Total IRA transfer $110,140
- Annual premium $11,014
- 6 year benefit plan with pool of $417,836
- Monthly LTC benefit of $5,803
- Death Benefit of $139,279
This is available in all 50 states.
With what company can you do this?? NATIONWIDE
And you receive commission from both the SPIA and the CareMatters sales!!