How to Reach Your Potential
You might be asking yourself this question – “What can I possibly say to my clients about long term care insurance that would be of interest to them?”
Here are some suggestions:
· Jack, I’ve come across a new long term care insurance plan that can increase the amount of money you can leave to your family at your death, transfer wealth to your family members without gift taxes – and will refund 100% of your premium cost to your family when you die if you never need care.
· Ruth, as partner at a law firm, I want to tell you about a new tax-deductible long term care insurance plan that can preserve assets for your children, guarantee that you won’t have to reduce your lifestyle after you retire if you need extended health care – and will refund 100% of your premiums to your family at your death.
· Peter, as a shareholder-employee in your closely held “C” Corporation, I’ve come across a new long term care insurance plan that will enable you and your wife to buy long term care insurance income with the following key features:
- Your corporation will pay your premiums.
- The premiums will be tax-deductible to your corporation.
- The premiums will not be taxable to you or your wife.
- Your insurance benefits will generally be income tax-free.
- You can include employees of your choice in the plan because it is not subject to discrimination rules or testing.
- When you die, 100% of the premiums that your corporation has paid for your personal insurance will be refunded to your beneficiaries. And when your wife dies the premiums paid on her behalf will be refunded to her beneficiaries.
In summary, the Plan will help preserve your assets, protect your retirement income, reduce your corporate income taxes, and transfer corporate assets to your personal beneficiaries.
· Alice, as the Director of Executive Compensation in a public corporation, you should know about a new plan to help your company attract and retain the top talent it needs to compete in today’s global economy. Here are the key features of the Plan:
- It will preserve your employees’ assets and protect their retirement income.
- The cost is tax-deductible to your company but not taxable to the employees.
- You can pick and choose the participants; there are no discrimination rules.
- The Plan is not subject to IRS Section 409A rules.
- You can use it as a non-taxable recruiting bonus.
- When the employee dies, 100% of your corporate premium payments will be paid to his or her beneficiary as a survivorship benefit.
- You can design the Plan on a cost-neutral basis to both your firm and your employees.
· Roger, as the Director of Human Resources for a large non-profit organization, you will want to know about a new plan to help you attract and retain top talent. Here are the key features of the Plan:
- It can provide deferred compensation benefits without IRS Section 409A and 457f issues.
- It will preserve your employees’ assets and protect their retirement income.
- You can pick and choose the participants; there are no discrimination rules.
- You can use the Plan as a true “Golden Handcuff” to retain employees.
· Ellen, as the owner of a substantial IRA account, I know you will be very interested in a plan that will help you preserve its assets for the benefit of your children – and that will involve little, if any, cost to yourself.
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