The Scariest Part of Retirement

The scariest part of retirement is the need for long-term, non-skilled health care — a cost that can easily wipe out all your retirement savings in just a few short years. Just check out the prices for nursing homes and home health aides at, and you'll see how quickly you can run through your retirement savings, leaving nothing for a surviving spouse or as a college fund for your grandchildren. But, there is a new way to plan for the need for custodial care: by using combination products that use life insurance or annuities to fund long-term care costs. If you have retirement savings that are now invested conservatively in bank CDs and money funds (earning basically nothing currently), now may be the time to “reposition” some of those retirement assets to do “double duty” as a source of funding for long-term care, just in case. These fast-growing products are based on either a life insurance policy or an annuity, which allow your money to grow tax-deferred. This pool of money inside the insurance contract can be used to pay for long-term care if it is needed. But if you don't use some or all of the money for that purpose, it remains an asset that can be left to your heirs. There's no “use it or lose it” feature with these combo policies. And there's no worry about rising premiums as there would be with a straight LTC policy. Plus, unless the money used to pay for the policy comes from an IRA, all withdrawals to pay for care come out tax-free.

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Glisson-LeBlanc Insurance

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         (941) 755-8899

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Glisson-LeBlanc Insurance is authorized to conduct life insurance business in Florida and may be licensed in other states.  

Glisson-LeBlanc Insurance cannot conduct business instates in which they are not licensed.  

This website is in no way to be construed as an offer for the sale of insurance products in unauthorized states or countries.
Provided content is for overview and informational purposes only and is not intended and should not be relied upon as individualized tax, legal, fiduciary, or investment advice.  Neither Glisson-LeBlanc Insurance, nor their representatives provide tax or legal advice.  For answers to specific questions and before making any decision, please consult a qualified attorney or tax advisor.
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