LTC for 64F

[Limozine]

She is uninsurable.
She cannot qualify for long-term care insurance or a hybrid.
She doesn't have enough money to justify an "LTC Annuity".
Tell her to find a good elder law attorney.

Thanks. Pardon my ignorance, but what's the reason for finding a good elder law attorney?

 

[Mr_Ed]

Thanks. Pardon my ignorance, but what's the reason for finding a good elder law attorney?

To set up an irrevocable trust to protect most of her assets in case she ever needs long-term care and needs to qualify for Medicaid.

 

[Allen Trent]

To set up an irrevocable trust to protect most of her assets in case she ever needs long-term care and needs to qualify for Medicaid.

For who? If I recall, she has no family. Her purpose for LTC was to avoid being put in a medicaid accepting home after she exhausts her own money.

I agree with your general advice on elder Care attorney, but doubt she will want to protect her assets from medicaid merely to leave it to the state. Maybe she has some long lost relatives or charity though

 

[Mr_Ed]

For who? If I recall, she has no family. Her purpose for LTC was to avoid being put in a medicaid accepting home after she exhausts her own money.

I agree with your general advice on elder Care attorney, but doubt she will want to protect her assets from medicaid merely to leave it to the state. Maybe she has some long lost relatives or charity though

No. The purpose of the trust would be to protect some of her assets from Medicaid, should she ever need to qualify for Medicaid. Once on Medicaid, she or her representative could use the funds in the trust to pay for an aide to provide her with additional care and assistance.

 

[ltcadviser]

Back to the original question:
Her state of residence is SC
Her health (now) is good. She is on disability because she had surgery (over five years ago) for chiari malformation.
Her net worth is $350,000
Her annual income is $18,900.

Global Atlantic ForeCare hybrid, single pay, 3x leverage. Does not have disability knockout question. Good luck.

 

[Tahoe Ray]

Global Atlantic ForeCare hybrid, single pay, 3x leverage. Does not have disability knockout question. Good luck.

What's wrong with you, Jack?

You're not supposed to provide actual solutions to the OP, just argue about how some products are evil and others are to be held in the highest regard.

I'm very disappointed.

 

[Tahoe Ray]

Profit levels are NOT directly related to commission.

Lol...just because you say things with CAPS doesn't make them true.

I was an employee wholesaler for 2 carriers for over 10 years. I sat on boards that made these decisions. Maybe it's not always the case, but our highest margin products absolutely paid the highest comp.

 

[Allen Trent]

Global Atlantic ForeCare hybrid, single pay, 3x leverage. Does not have disability knockout question. Good luck.

I also was going to suggest that Global Atlantic Annuity/LTC. But I have been beat up alot on this thread & lost my confidence. Have calls in to therapists to help me through it

 

[ltcadviser]

What's wrong with you, Jack?

You're not supposed to provide actual solutions to the OP, just argue about how some products are evil and others are to be held in the highest regard.

I'm very disappointed.

Oh. Sorry. My bad.

 

[ltcadviser]

Don't assume.
Roughly 30% of my clients buy hybrids.

yes, from me.