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All can play a role. Term and permanent life insurance, Long Term Care, and Disability Insurance.
Depends on the client
You forgot auto, home and umbrella. I don't sell it, but I have reliable peers that can legally review and comment. You'd be shocked at the issues out there.
By some long term care on your kids and grandkids too. Lol
Can be - depends on the situation. It’s like a Roth IRA that you can have compounded year over year to pay for care - comes out tax free. Depending on the policy, you can get 100% cash back. It’s just a more efficient mouse trap than putting the funds in a brokerage or tax-deferred account and being taxed on the funds when you need them.
All of it
Agreed, a solid foundation to any plan would include disabily, life and LTC if necessary.
Ive had 2 different clients in the past 2 months that both filed a claim and ended up being saved by disability insurance. Life insurance w accelerated DB so you can knock out 2 birds with one stone.
Depends on the age and stage of the client, but if they are working, life and disability should always be discussed. LTC discussion is generally for ages 40+.
All!!!!!!!!
Is LTC really worth it?
I call insurance a protection strategy. We’re protecting against the unexpected events that could easily wreck the plan we have in place. Of course it depends on the client, but over age 50 I prefer permanent life with LTC or CI rider. Leverage the client’s money for a tax-free bucket of money to increase their net worth