Long-Term Care Insurance - Purchased With IRA Money

In today’s Cardinal lesson, we explore how to purchase long-term care insurance using IRA funds, offering a practical solution for protecting yourself and your family. Many clients in their 60s-approaching Medicare age-are looking for ways to secure their long-term care needs without a significant upfront financial burden. This video breaks down a unique hybrid policy from OneAmerica that allows you to use a single premium from your IRA to cover long-term care expenses for life. Watch now to find out more!
Questions? Email us at [e-mail], call us at [phone], or visit our website at cardinalguide....
Show Notes: cardinalguide....
H E Scheil & Associates doing business as Cardinal Advisors holds an insurance license in all 50 states and DC. Listed below is the license # in each individual state. Alabama 675461, Alaska 100118081, Arizona 1800012348, Arkansas 100104794, California 0K32569, Colorado 464622, Connecticut 2463129, Delaware 1119857, DC 2887040, Florida L087124, Georgia 159539, Hawaii 445296, Idaho 507076, Illinois 100333675, Indiana 721739, Iowa. 1002056691, Kansas. 272705345, Kentucky 738674, Louisiana 614407, Maine AGN249408, Maryland 100048542, Massachusetts 2006645, Michigan 0104206, Minnesota 40411912, Mississippi 15016382, Missouri 8325733, Montana 100126008, Nebraska 100224332, Nevada 1007341, New Hampshire 2315847, New Jersey 1557889, New Mexico 1800010640, New York 1382342, North Carolina 1000092550, North Dakota 2000136230, Ohio 1028975, Oklahoma 100190853, Oregon 100237062, Pennsylvania 589318, Rhode Island 2309277, South Carolina 1907911784, South Dakota 10017719, Tennessee 2252224, Texas 1963111, Utah 513447, Vermont 1038574, Virginia 129027, Washington 864498, West Virginia 100107166, Wisconsin 100192273, Wyoming 27517

[@chumbawumba1959]

Really appreciation your many options being reviewed for LTCI out of IRA funds, and spreading the cost over time. Very helpful for newly retired couples (like me & wifey) who have almost all money in IRA accounts.

[@KevinDonaldson-n8o]

Is this policy available in California?

[@CardinalAdvisors]

@@KevinDonaldson-n8o It is filed in California but not approved yet by the insurance department. An earlier version of this policy is approved and for sale in California. Thanks

[@michaelabraham7747]

Is there a huge different if you are single?

[@CardinalAdvisors]

@@michaelabraham7747 Single male about 60% of the $200,000 and single female 65% of the $200,000 buys similar benefits.