Episode #5

Bryan Anderson, founder of Annuity Straight Talk, speaks with Ashok Ramji, a financial consultant with TOP Planning LLC, an independent asset protection and retirement income planning firm serving retirees and pre-retirees alike. In this episode, they delve into the topic of long-term care and how people can start planning for it.

Ashok opens the show with a discussion on his article “Long-term IRA Planning for Long-term Care”. He and Bryan stress why the average consumer needs to plan for extended care even though it’s not a comfortable topic for a lot of people. They also talk about life insurance policies as a way to retain assets.

Want to learn how annuities are involved in all of this? Ashok explains how an annuity can be used as a tool to fund premium payments for insurance, and Bryan talks about his newsletter “Long Term Care and Annuities”. 

What You’ll Learn in This Episode:

• [02:48] The 6 activities for daily living and the 2 biggest payers of extended care
• [07:35] On traditional long-term care insurance
• [11:15] On guaranteed renewable contracts
• [13:43] On permanent cash value life insurance
• [18:38] Alternatives to doing insurance 
• [20:23] Case study about a couple who used annuities in an efficient strategy to prepare for any type of emergency
• [23:32] 2 ways to use annuities according to Bryan
• [29:05] Statistics on who avails of long-term care
• [31:30] The “live, die, or quit” structure

Key quotes:

• “Take control of what you can.” ~Bryan
• “We need to have some…compounding of benefits so that we’re maintaining our purchasing power.” ~Ashok
• “You can take death benefits while you’re still living to offset costs of long-term care.” ~Bryan
• “Annuity can serve two roles. It can either be on the funding side or the providing benefits side.” ~Ashok

Call Annuity Straight Talk at 800-438-5121 or schedule a call at AnnuityStraightTalk.com