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Finance
go up over time. A Hybrid Life Insurance policy with a long-term care rider allows
one to have a life insurance benefit while still working or in retirement, with the
ability to use some or all of their death benefit for the purposes of long-term care
in their later years. ;his option can give clients the ability to pay for a benefit that
they know will be used in one way or another, potentially eliminating the feeling
of ;use it or lose it; that some may have with traditional policies. ;lso, ;ybrid
policies can be structured with ;fi;ed; premiums or a lump-sum and therefore,
reduce the risk of rising premiums that some may e;perience traditionally.
The downside is that underwriting requirements are typically more stringent
since you are underwriting a death benefit and living benefit together. ;any
individuals have older cash value policies
without a LTC benefit that may consider
re-evaluating those policies to create a new
benefit. The third option is asset-based;
using either retirement accounts or cash to
generate an annuity stream during retirement that can continue to pay for long-term care costs later in life. This option can also be useful to individuals who are
not able to pass the medical e;amination re;uirements of traditional or hybrid
policies, as well as those in risk classes such as smokers and those with ;iabetes
where the price may be prohibitive.
;s far as a strategy for estate planning is concerned, all pre-ta; retirement
plans and traditional IRAs require a minimum annual distribution after
reaching the age of ;0 and a half. ;ost take that distribution and simply put
it into a savings account. ;ther options can be to take the cash and invest
post-ta;, to contribute to long-term care protection, or to leave a legacy. ;hat
type of legacy would you like to leave; ;ou could gift money to your children/
grandchildren, set up an endowment for charity, or protect the assets in a
trust. There are countless options and strategies to create the legacy you
choose.
;ost-retirement living is very different, so take the time to e;plore
your options well in advance of your retirement age. ;e encourage you
to sit down with an unbiased, independent financial advisor that puts
your best interests first and helps you compose a written personali;ed
and holistic financial strategy with the goals of protecting your retirement
investments and securing the ne;t chapter of your financial future. ;o
learn more about the topics above, please attend ;awrence’s seminars
held at the ;ing of ;russia, ;;, and ;arsippany, ;;, ;deal-;;;;;; ;eal
;states ;hows in ;anuary and ;ebruary. ;n the meantime, if you have any
;uestions, feel free to contact ;awrence at
LawrenceT@VoyaFA.com.
Investment adviser representative and registered representative of, and securities and
investment advisory services offered through Voya Financial Advisors, Inc. (member SPIC).
Neither Voya Financial Advisors nor its representatives offer tax or legal advice. Please
consult with your tax and legal advisors regarding your individual situation. Tundidor &
Weiss is not a subsidiary of nor controlled by Voya Financial Advisors. 37310919_IAR_102D
6. Working with a ;nancial advisor who puts your best interests ;rst.
What type of legacy
would you like to leave?
An extraordinary value: Homesites from the $50s; Homes from the $250s
It’s a picture perfect lifestyle, spent among friendly neighbors and fun-filled activities, including swimming,
tennis, pickleball and miles of walking and biking trails. And the convenience is further enhanced with a retail
center now open at the community’s entrance. If you’re searching for a retirement community that celebrates
the art of living, these are definitely your Colours.
Inquire about our Discovery Package and come visit Carolina Colours for yourself.
252.636.3700 CarolinaColours.com
NEW BERN, NC
THE SHADES OF CAROLINA COLOURS
SUIT YOU PERFECTLY
The blues of abundant waters flowing throughout this coastal region of North Carolina.
The greens of our Bill Love-designed championship golf course. The many hues of life in a celebrated
planned community, situated in New Bern, a town that is at once historical and modern.
WATERCREST LAKEFRONT PROPERTIES JUST RELEASED
