Los Angeles, CA, February 14, 2018 --(PR.com
)-- A new guide exploring the benefits of a 1035 exchange as part of long-term care insurance planning has just been made available by the American Association for Long-Term Care Insurance.
The guide is designed to be of value to the millions of older Americans who have a current annuity or life insurance policy but have failed to undertake any long-term care insurance planning.
"Americans have $2.8 Trillion in annuities that could be repurposed to continue accruing value but now would also provide a tax-free long-term care insurance benefit," explains Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI). The national organization has just released the Guide To Long-Term Care Planning Using 1035 Exchanges.
Those who have cash value life insurance policies can also gain valuable insights from the guide. "Individuals who bought a life insurance policy when their children were young find that need for protection no longer exists," Slome notes. "The 1035 guide explains how to repurpose an existing life insurance policy to one that has both a death benefit for beneficiaries in addition to a tax-free long term care benefit that be of significant value."
To read the 1035 exchange guide online visit the American Association for Long-Term Care Insurance's website at www.aaltci.org/1035-exchanges.
Established in 1998, the American Association for Long-Term Care Insurance advocates for the importance of LTC planning and supports insurance professionals nationwide. The organization website has been recognized nationally as the top resource utilized by consumers to find information regarding long-term care planning.
Jesse Slome is a leading consumer advocate and author of numerous consumer and professional guides focused on retirement and insurance planning that have been published by governmental agencies and private organizations. Slome also serves as director of the American Association for Medicare Supplement Insurance as well as the National Advisory for Short Term Care Information.