Long-Term Care
Short-Term Care
Since 1970 we have designed, critiqued, and brokered Long-Term Care Insurance. We research and bring to you the highest rated plans for Long-Term Care Insurance in Ohio. With over 60 years of combined experience, we can provide knowledge and insight that can only be gained through experience in this market.

Contact Us:

Toll Free:(800) 728-0994

Telephone:(330) 499-5824

FAX:(330) 499-5829

Email: info@hardingharding.com

Long-Term Care:

Asset Based LTC Plans

An Alternative to Traditional LTC

Asset based Long Term Care plans or Linked-Benefit policies as they are commonly called, offer the ability to “leverage” the asset{s} designated to pay for long-term care by those choosing to self-insure their potential long-term care expenses.

These policies are typically a combination of Life / Long-Term Care insurance or, Annuity /Long-Term Care insurance. The leverage provided differs between which option is used.

The choice of which approach to use is often determined by the type of funds designated for future long term care needs.

Asset Based LTC Linked-Benefit Plans

These policies can provide from 3 to 6 times{or more} the value of the deposit for long-term care. Depending upon one’s age, a Life / LTC policy with a $50,000. deposit could generate a Death benefit of $100,000. and Long-Term Care benefits of $200,000., $300,000. or more

Annuity / Long-Term Care policies triple the amount of deposit for Long-Term Care benefits. So, a deposit of $75,000. will provide $225,000. of coverage for LTC, regardless of one’s age.

Linked policies are very attractive to those concerned with “if I don’t use it (LTC) I lose it (the premium paid)” that is often associated with traditional LTC policies, as well as for those who have sufficient assets to pay for LTC. The leverage in these policies limit the amount of assets exposed to the LTC risk, and allows some of those assets to be freed up for other purposes.

Changes taking place as of 1-1-2010 due to the Pension Protection Act have also clarified that benefits for LTC, as well as associated premiums for the LTC benefit are NOT TAXABLE. This means the premium that is charged for the LTC benefit is Tax-Free.

There are many ways to fund this type approach, the most common being a 1035 tax free exchange of a current Life or Annuity contract to a Linked Benefit contract that is essentially dual purpose.

The Life policies also offer a Live, Die or Quit feature meaning if you live you have the LTC protection, if you die before getting sick you have the death benefit, or if you quit the policy there is a built-in Return of Deposit.