What's a 1035 exchange?

What's a 1035 exchange?

Author: Diane Stoddart, Certified Long Term Care Consultant, CLTC July 11, 2024 Duration: 12:03
Several people are asking if they can use their life insurance policies for long term care needs. Some newer life insurance plans include a chronic illness rider that let's you use the dealth benefit while still alive and needing help living through your day. Those plans don't consider that needing care wil cost much more in the future, however. Older life insurance policies generally don't allow early use for LTC needs. You can exchange those plans for a plan that wil pay for LTC. Some of the LTC plans will also pay a death benefit if care is not needed. Listen and learn what Rob & Judy are considering with their old life insurance policies by using the IRS 1035 exchange rule to reposition their plan feom a death benefit only to a death and LTC benefit. If you own life insurance with cash value built up, you can use that cash value to create an LTC plan wil little or no premiums. Schedule with me to learn how https://calendly.com/diane-p4t/30min

Diane Stoddart brings a professional yet deeply personal perspective to the complex world of long-term care planning in Preparing For Tomorrow podcast. As a Certified Long Term Care Consultant, she understands that preparing for future care needs involves more than just finances-it's about safeguarding your family's well-being and peace of mind. Each conversation cuts through the industry jargon to clarify the real options available, from insurance products to legal strategies, all aimed at protecting your life savings from being depleted by unexpected care costs. You'll hear Diane break down essential concepts and terms, making a daunting subject feel manageable and urgent. Alongside expert guests, she explores the emotional and physical dimensions of caregiving, offering a holistic view that acknowledges the full weight of these decisions. This isn't about fear; it's about empowerment through knowledge. Tuning into this podcast provides a straightforward guide to creating a practical plan, ensuring you can face tomorrow with confidence rather than anxiety, knowing your loved ones and your legacy are secure.
Author: Language: English Episodes: 100

Preparing For Tomorrow podcast
Podcast Episodes
Question 5 - Are there tax deductions when I own LTC insurance? [not-audio_url] [/not-audio_url]

Duration: 12:01
Estimate LTC premiums here Schedule a meeting with me here Ask a quick question here Listen to more episodes here Learn what your state lets you keep to qualify for Medicaid here Cost of care estimator is here
Question 4 - Can I get money back if I don't need care? [not-audio_url] [/not-audio_url]

Duration: 11:37
There are multiple ways to design LTC plans to get mney back of care isn't needed. Listen to many options today. Part two comes next week. Estimate LTC insurance premiums here: Premium estimator Schedule a meeting with m…
Question 3 - What is an Elimination Period? [not-audio_url] [/not-audio_url]

Duration: 11:21
Estimate LTC insurance premiums here: https://23149698.hs-sites.com/individual-calculator Ask a question here: https://calendly.com/diane-p4t/15min Listen to more podcast episodes here: https://preparingfortomorrow.libsy…
Question 2 - How much insurance do I need? [not-audio_url] [/not-audio_url]

Duration: 11:24
LTC Resources Estimate LTC insurance premiums here https://23149698.hs-sites.com/individual-calculator Ask a question here https://calendly.com/diane-p4t/15min Listen to podcast episodes here https://preparingfortomorrow…
Question 1 - What does LTC insurance pay for? [not-audio_url] [/not-audio_url]

Duration: 10:15
Schedule with me at https://calendly.com/diane-p4t/60min Ask a question at https://calendly.com/diane-p4t/30min Website: https://preparing4tomorrow.com/ Podcast episodes: https://preparingfortomorrow.libsyn.com/ What you…
Reason For The Season - Song for you to enjoy from us [not-audio_url] [/not-audio_url]

Duration: 3:23
We wish everyone a joyful Christmas and holiday season. Celebrate with those near and far, and enjoy all the bountiful gifts of love and family. Open your hearts and love those you love even more this season. Welcome tho…
Notice who is helping who this holiday season [not-audio_url] [/not-audio_url]

Duration: 10:23
As you gather with family and friends this holiday season, I ask you to notice sons and daughters helping their moms and dads perform simple tasks like cutting their food or getting in and out of chairs. Ask yourself and…
2 years ago... [not-audio_url] [/not-audio_url]

Duration: 12:39
Diane shares two client stories and some of her own family's story that have all developed over the last two years. So many people want to wait as long as they can to own LTC insurance, but they fail to understand that h…
Case Study: Joe 71 & Jenny 72 single premium life/LTC hybrid plan [not-audio_url] [/not-audio_url]

Duration: 10:37
This week, we're sharing how Joe & Jenny used a single payment to create a paid up LTC and/or death benefit that pay tax-free when care is needed or when death occurs. This couple is in their 70s and are thankfully healt…