Annuity Straight Talk

Annuities and Long Term Care

Listen Later

Bryan Anderson, founder of Annuity Straight Talk, speaks with Ashok Ramji, a financial consultant with TOP Planning LLC, an independent asset protection and retirement income planning firm serving retirees and pre-retirees alike. In this episode, they delve into the topic of long-term care and how people can start planning for it.

 

Ashok opens the show with a discussion on his article “Long-term IRA Planning for Long-term Care”. He and Bryan stress why the average consumer needs to plan for extended care even though it’s not a comfortable topic for a lot of people. They also talk about life insurance policies as a way to retain assets.

 

Want to learn how annuities are involved in all of this? Ashok explains how an annuity can be used as a tool to fund premium payments for insurance, and Bryan talks about his newsletter “Long Term Care and Annuities”. 

 

What You’ll Learn in This Episode:

 

  • [02:48] The 6 activities for daily living and the 2 biggest payers of extended care
  • [07:35] On traditional long-term care insurance
  • [11:15] On guaranteed renewable contracts
  • [13:43] On permanent cash value life insurance
  • [18:38] Alternatives to doing insurance 
  • [20:23] Case study about a couple who used annuities in an efficient strategy to prepare for any type of emergency
  • [23:32] 2 ways to use annuities according to Bryan
  • [29:05] Statistics on who avails of long-term care
  • [31:30] The “live, die, or quit” structure

    •  

    Key quotes:

     

    • “Take control of what you can.” ~Bryan
    • “We need to have some...compounding of benefits so that we’re maintaining our purchasing power.” ~Ashok
    • “You can take death benefits while you’re still living to offset costs of long-term care.” ~Bryan
    • “Annuity can serve two roles. It can either be on the funding side or the providing benefits side.” ~Ashok

      •  

      Call Annuity Straight Talk at 800-438-5121 or schedule a call at AnnuityStraightTalk.com



      ...more
      View all episodesView all episodes
      Download on the App Store
      Annuity Straight TalkBy Bryan Anderson
      • 3.6
      • 3.6
      • 3.6
      • 3.6
      • 3.6

      3.6

      13 ratings

      More shows like Annuity Straight Talk

      View all
      Sound Retirement Radio by Jason Parker

      Sound Retirement Radio

      443 Listeners

      Your Money, Your Wealth by Joe Anderson, CFP® & Alan Clopine, CPA of Pure Financial Advisors

      Your Money, Your Wealth

      806 Listeners

      Retirement Answer Man by Roger Whitney, CFP®, CIMA®, RMA, CPWA®

      Retirement Answer Man

      1,289 Listeners

      Retirement Starts Today by Benjamin Brandt CFP®, RICP®

      Retirement Starts Today

      539 Listeners

      The Retirement and IRA Show by Jim Saulnier, CFP® & Chris Stein, CFP®

      The Retirement and IRA Show

      751 Listeners

      Stay Wealthy Retirement Podcast by Taylor Schulte, CFP®

      Stay Wealthy Retirement Podcast

      678 Listeners

      Retire With Purpose - The Retirement Podcast by Casey Weade

      Retire With Purpose - The Retirement Podcast

      584 Listeners

      Ready For Retirement by James Conole, CFP®

      Ready For Retirement

      824 Listeners

      The Rob Berger Show by Rob Berger

      The Rob Berger Show

      194 Listeners

      "Fun With Annuities" The Annuity Man Podcast by The Annuity Man

      "Fun With Annuities" The Annuity Man Podcast

      55 Listeners

      I Love Annuities by Jeremiah Konger

      I Love Annuities

      2 Listeners

      Early Retirement - Financial Freedom (Investing, Tax Planning, Retirement Strategy, Personal Finance) by Ari Taublieb, CFP®, MBA

      Early Retirement - Financial Freedom (Investing, Tax Planning, Retirement Strategy, Personal Finance)

      569 Listeners

      Retirement Planning Education, with Andy Panko by Andy Panko

      Retirement Planning Education, with Andy Panko

      993 Listeners

      Retire With Style by Wade Pfau & Alex Murguia

      Retire With Style

      184 Listeners

      The Atlas Annuity Podcast by Marty Becker

      The Atlas Annuity Podcast

      3 Listeners