[Music] so this next slide talks to you about the options for long-term care we talk about self-funding we're going to go from the the left side of the screen over to the right side of screen so we talked about self-funding and we talked about some of the uh the the cons on that and some of the disadvantages of self-funding which just to summarize is the fact that the fact that taking a lot of that income or i should say assets away may jeopardize the spouse also the fact that um on some of these plans or most of these plans they do have a full management system so even though you can sell fun even even if you get a small insurance policy with these management systems you'll be utilizing that on on your self funding number two the hybrid solutions annuities with long term care riders definitely a good solution um some of these annuity companies do have long-term care riders on them whereas if your annuity is x they'll actually increase that a certain amount to for if you do have long-term care it again is reducing your assets for your spouse or something of that nature or i should say your spouse or your loved ones so even utilizing annuities with long-term care even though on the top it may say hey let's do that you'll see that there's not as significant a benefit as if we go to the next section and that is life insurance because as you know life insurance with abrs is accelerated benefit rider that's actually where you can buy a life insurance plan as you know when you put a premium on a life insurance you can usually get a very large amount so if you utilize that now you get a very large amount of benefit for either death benefit or for long-term care these solutions are specifically designed that you can accelerate your death benefit for long-term care for example if you buy a half a million dollar plan and you need a hundred thousand dollars a year you can accelerate that death benefit so if you draw it down a hundred thousand dollars a year it would last five years for long-term care if there is anything left in the death benefit after that that would be payable to your heirs okay the third solution is the hybrid solution another one is life insurance with a long-term care rider very similar to the what we just talked about life insurance with accelerated benefits but this actually has a a life insurance portion and a true long-term care rider with it what i might mean by that is that the fact that you do have to go through your life insurance but then you have an increasing uh amount of long-term care that can be utilized subtle differences between the life insurance with abrs and life insurance with ltc combos but when we do meet i'll explain those differences in detail and then finally traditional long-term care what these are about is it is just straight long-term care it's not like the life insurance where there's a death benefit it's not like a life insurance plan where you have cash value it is true just long-term care you pay your premium every year if you need coverage then great then you can um they can utilize a benefit if you don't then you're out for that year and if you never use it then you paid premiums your for that long period of time without any benefits so which one's right for you i don't know it would take that we do have a meeting we talk about what your needs are and then talk about what you're um what some of the options are and match up what your needs are with the different types of plans out there so we can find a solution that is right for you i do really want to thank you for for taking the time and and reviewing this with me i try to come at it from an educational standpoint so that once you're educated on these topics then you can make some some good decisions that really meet your needs so thank you very much and i i truly do feel or want to express my uh opinion of coming to see me and talking about the long-term care planning for this is so so very important you don't want to go into this blind when you're in your let's say late 70s or 80s or so you need to do some pre-planning so thank you very much and i look forward to hearing from you thank you you
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