Hopefully we will have some viable choices; not tough decisions
November 21, 2024 by Sheryl J. Moore
A strange thing happened this week.
THE DAY that I found out that my Dad was going to a nursing home, for his advanced Alzheimer’s, I had a planned visit with a wholesaler from OneAmerica Financial.
Tim Vannoy, CLU, ChFC, CFP® wholesales combo products (annuities + LTC and life insurance + LTC) for the company.
CAN YOU BELIEVE THAT?!?
OneAmerica wrote the book on combo products, such as Annuity Care and Indexed Annuity Care.
I LOVE combo products; they eliminate the “use it or lose it” feature of standalone LTC (although my LTC experts tell me that there is still good reason to use standalone LTC in many instances).
But oh how I wish my Dad hadn’t squandered his savings, and invested in a combo annuity!
Tim’s visit just reinforced how much easier things would be going right now, had Dad had that insurance.
If you haven’t considered combo products, I encourage you to explore them. The Pension Protection Act of 2006 granted tremendous tax advantages to using these products.
As for Dad- we will be meeting with a social worker, later today. Hopefully we will have some viable choices; not tough decisions. -sjm
