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Key Facts...

In 2005 $2 trillion was spent on health care services in the United States. On average, each person was responsible for a total annual health care bill of $6,700. Is your health insurance plan working for you and your family?

Source: National Coalition on Health Care. Catlin, A, C. Cowan, S. Heffler, et al, "National Health Spending in 2005." Health Affairs 26:1 (2006).

Health care costs in the United States rose an unprecedented 6.9% in 2005, more than double the rate of inflation. These costs are expected to rise at similar levels for the next decade. Protect your health and your wallet by investing in a health insurance plan that is right for you.

Source: National Coalition on Health Care. Catlin, A, C. Cowan, S. Heffler, et al, "National Health Spending in 2005." Health Affairs 26:1 (2006).

Long term care can be expensive. According to the newly released survey by Genworth Financial Services for 2008 the average annual rate for a private nursing home room in San Jose , California is $89,973 – up 17% since 2004. The demand and cost for in-home care are also on the rise. And, we face an impending caregiver shortage that could drive costs even higher in the near future.

Most Americans are unprepared. Learn about expected costs and make sure long term care is part of your overall retirement plan.

How to eliminate LTC Premiums

Are you spending your sunny days waiting for rain? I know that sounds odd but effective financial planning and asset management is a challenge. We want to embrace all that life brings us. However, at the same time, we need to have protections against financial and health care emergencies. The challenge is that we don’t know what the future holds. If you are like me, you have a “rainy day” fund – assets to keep “just in case.”

There is a way to provide the same security by simply moving some of your assets. Long Term Care insurance is viewed by most folks the same way as auto insurance. The only way you “win” is if you get into a wreck – which obviously you do not want to happen.

People are living longer than ever before. Commonly, a person who reaches age 65 today can expect to live 20 or more years into retirement, according to the National Center for Health Statistics. In fact, for the first time in history, there are more Americans age 65 and older than teenagers!

It is a little known secret, but a few years ago the insurance industry designed a revolutionary product that directly addresses the inherent problems involving traditional long term care products. I call these new products as asset-based long term care. One such product is called MoneyGuard. Simply defined, this new policy is a super charged single premium universal life insurance. The single premium is fully guaranteed by a 100% money back guarantee and is tax deferred interest bearing. It has an immediate death benefit of at least 150% of the deposit and the death benefit is “automatically doubled” to provide for long term care benefits.

Here’s a working example of how it works. By moving $50,000 of assets into MoneyGuard, it provides an immediate death benefit of at least $110,000 or benefits of at least $220,000 for long term care. Additionally, it accrues interest during the deposit period usually at money market rates. And don’t forget, the $50,000 single premium is fully guaranteed, earns tax deferred interest and has a 100% money back guarantee should you cancel the policy. The end result is a Win – Win – Win scenario for you.

If you would like to learn more about this product just ask me.

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