083 Jack Lenenberg: How To Qualify for Long-Term Care

0:04
welcome to fun with annuities with your

0:06
host me stan the annuity man america's

0:09
annuity agent can annuities be fun can

0:12
contractual guarantees be fun

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absolutely they can find out the brutal

0:17
facts about annuities with no sales

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pitches or high pressure nonsense just

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the brutal and factual annuity truth

0:25
which is all you need to hear

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let's have some fun with annuities and

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let's have that fun start right now

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[Music]

0:39
welcome to fun with annuities i'm your

0:42
host stan the annuity man america's

0:44
annuity agent license in all 50 states

0:46
i'm very glad to have a repeat guest on

0:49
today's program

0:50
backed by popular demand the top in my

0:53
opinion the top long-term care expert

0:56
in the country and if he wants to argue

0:58
with me then i'll argue

1:00
on his behalf but it is a fact and his

1:03
name is jack

1:04
lindenberg hey jack how are you

1:07
i'm doing great stan how are you today

1:09
excellent i am looking forward to the

1:11
topic which is um

1:14
how to qualify for long-term care and

1:16
what are the things people need to kind

1:18
of have in in the back of their mind if

1:20
it's feasible

1:22
and the way to go about working with you

1:24
and then if you can't find the solution

1:26
then then working with me i will have

1:29
jack's specific information on my site

1:32
um if you're driving or if you're on a

1:35
treadmill you can go there if you have a

1:36
pen and pencil in front of you his site

1:39
is

1:39
of course www.ltcpartner.com

1:44
ltcpartner.com

1:46
all one word and you can find jack there

1:48
you can schedule call with him

1:50
um he is

1:53
he is exclusively who i use

1:56
when my clients need long-term care

1:59
advice because he's like me he's

2:02
brutally factual um and he's not it's

2:05
not some sales pitch he's going to try

2:06
to help solve what you're trying to

2:08
solve for it's not if it can't be solved

2:10
for he's going to tell you and i think

2:12
that's refreshing so what else do you

2:14
want to add about how good you are jack

2:18
not much

2:20
thank you for the very kind words i

2:22
appreciate it

2:24
all right let's jump in um

2:26
you know since your last time on the

2:28
podcast i mean

2:29
phones have been ringing off the hook

2:31
people have been emailing me and of

2:32
course they've been contacting you as

2:34
well

2:35
which is great we want them to look

2:37
underneath that long-term care rock we

2:39
want them to

2:40
understand what's available and what is

2:43
feasible and if they qualify which is

2:45
which is the part of which is the main

2:47
topic today i think long-term care

2:51
is growing every month it grows in

2:54
importance when people are looking at

2:56
their retirement plans before we jump

2:58
into the qualification stuff jack can

3:00
you

3:01
kind of weigh in on what you've been

3:04
hearing reading because you are the

3:06
thought leader in that space about

3:07
long-term care

3:09
and just where we're headed with it as a

3:11
product

3:13
well i mean it's

3:16
you know everyone is living longer today

3:18
and the cost of care

3:20
is increasing you know tremendously you

3:23
know with inflation so

3:25
you know it's important to plan for it i

3:27
mean uh

3:29
so

3:30
it's on everybody's mind

3:32
and

3:34
you know a lot of there's a lot of

3:37
states for instance the state of

3:38
washington just had a long-term care

3:41
program mandating

3:43
payroll tax

3:45
on all employees

3:46
unless people planned for long-term care

3:49
you know they could get out of the tax

3:51
so

3:52
you know there's public programs that

3:53
are being developed they're not very

3:55
good

3:56
um

3:58
but the the general messaging is

4:00
everyone needs to plan for long-term

4:02
care the states don't have the money

4:04
medicaid doesn't have the money to fund

4:07
long-term care

4:08
so

4:09
we either private pay or

4:12
you know we can

4:14
you know transfer the risk to an

4:16
insurance company and and take the sting

4:19
out of the need for care so

4:22
it's here to stay is what you're saying

4:24
the the question yeah i mean how to

4:26
price it from the carriage it's not

4:28
going away i mean we're living longer

4:31
you know it 70 percent

4:34
uh

4:34
if we have a married couple the

4:36
statistics show 70 percent of people

4:38
will need some care you know one you

4:40
know in a marriage in a couple situation

4:43
you know forty percent of all of all

4:45
individuals will need some care an

4:48
average need is is now up to three and a

4:50
half years that's an average need

4:53
you know and the cost of care

4:55
it's a hundred thousand dollars a year

4:57
so

4:58
you know we either plan for it or we we

5:01
private pay

5:02
i mean

5:03
that's just the the reality of the

5:05
situation so i know that i was on a um i

5:08
was on kind of a

5:11
panel the other day and somebody kind of

5:13
threw out there and i've heard this

5:14
before and i've actually repeated it to

5:16
people at very very high net worth

5:18
levels

5:19
um that if you're at a certain dollar

5:21
amount investable not house car and art

5:23
i'm talking about investable liquid type

5:25
assets then maybe you can self-insure

5:29
for long-term care even the rever the

5:31
ultra-rich are by long-term term care

5:33
because they want to transfer that risk

5:35
is there a dollar amount jack that you

5:39
think that you said okay if you're at

5:40
this point because the guy on the panel

5:42
said three million if you have three

5:43
million liquid you probably can

5:44
self-insure do you agree with that or is

5:46
that just me well i mean

5:49
again it's

5:53
i mean today 3 million i mean

5:58
i'd say then my whole book of business

5:59
can maybe self-insure um

6:02
everybody i work with could self-insure

6:04
so that's pretty much the average i mean

6:05
where we're going today so so

6:08
it's again it still comes down to do you

6:10
want to pay

6:12
for all the costs of your care should

6:14
the need arise i mean

6:17
i i bought my policy stan i was 46 years

6:20
old

6:20
i mean i could self-insure

6:22
usually i don't want to self-insure i

6:25
just don't want to do it you know i

6:27
wanted a policy i wanted to have a plan

6:30
enforced so that my kids

6:32
would not have to be burdened with any

6:34
of these issues you know in 30 years

6:36
they're going to have enough

6:38
you know responsibilities of their own

6:40
at that time to not worry about you know

6:42
mom and dad

6:44
you know i just wanted to be responsible

6:46
to my family and have a plan and

6:48
you know certainly if i could

6:50
self-insure and write a check for a

6:51
hundred thousand dollars a year

6:53
to pay for the cost of my care certainly

6:55
i could actually afford to you know

6:59
buy a plan and and write a check for a

7:01
premium

7:02
as well so so i think it really comes

7:05
down to

7:08
you know does everyone do they want to

7:11
have coverage you know do they want to

7:13
have a plan do they want to you know for

7:16
whatever their reasons are whether it's

7:18
not not burdening

7:20
you know a

7:21
family with these issues

7:24
protecting assets to possibly leave a

7:26
legacy

7:28
so there's many reasons why why people

7:31
plan um

7:33
but uh as far as

7:36
can people self-insure sure

7:38
i mean

7:39
it all comes down to risk risk tolerance

7:41
i guess and just kind of what you're

7:43
doing jack one of the biggest

7:44
misconceptions that i think the

7:46
long-term care industry

7:48
and and it also the annuity industry uh

7:51
suffers from and it is a misconception

7:53
is i'm gonna set up this long-term care

7:55
plan with jack linenberg the top a

7:58
long-term care expert in the country but

8:00
if i don't use it money goes poof please

8:02
explain and clarify and pound the table

8:05
and yell into the microphone that that's

8:08
that's not true and you can set things

8:10
up so that 100 of the money goes to

8:12
somebody in your family if you don't use

8:15
it

8:16
well true i mean so there's different

8:17
ways to fund the plan right you know we

8:20
have

8:21
the

8:22
the old way of doing it the traditional

8:25
way was you just buy a stand-alone

8:26
long-term care insurance policy and you

8:28
pay premiums your you know monthly or

8:31
annually for the rest of your life and

8:33
if you don't need it well yeah you know

8:35
you you pay your insurance and the money

8:37
went away what is um what percentage of

8:39
the marketplace does that product

8:41
represent right now in your in your

8:44
guesswork

8:45
um

8:46
a lot lower than it used to be i i

8:51
i i it might be down i mean it might be

8:55
down to

8:56
20 today 25

9:00
where it used to be 100 right right no

9:02
so now the market is completely shifted

9:05
completely shifted

9:06
you know so

9:08
the other way to plan you know policies

9:11
are called asset-based policies

9:14
where they combine

9:16
the long-term care benefits with a cash

9:19
value policy an annuity contract or a

9:22
life insurance policy

9:24
such that

9:27
the money that you pay for your plan if

9:29
you don't need care

9:30
comes back to your estate at your death

9:34
you know generally with most of the

9:36
plans the money that you put in all of

9:38
it will come back

9:40
repeat that again i'm going to interrupt

9:41
you i need you to repeat exactly what

9:43
you said again because i can't tell you

9:45
how many people

9:47
call me and i can't imagine you get it i

9:49
mean

9:50
just repeat that again that you're yes

9:52
you're placing your money there yes

9:54
you're getting long-term care coverage

9:55
but if you don't use it money comes back

9:57
to you or your beneficiaries say that

9:59
again

10:00
well you know so we're we're

10:02
repositioning the premium

10:05
and

10:06
we're growing the money for long-term

10:08
care we're not growing the money you

10:10
know for for investment gain we're

10:12
repositioning money growing it for

10:15
long-term care if care is needed but if

10:17
not the insurance company returns the

10:20
premium at death 100

10:23
so

10:23
you know essentially

10:26
you win in three ways i mean if you live

10:28
too long

10:30
you have long-term care benefits

10:31
tax-free

10:33
if you die

10:34
money comes back for the death benefit

10:37
and with a lot of the plans even if you

10:39
change your mind and you quit

10:42
you get the money back they have you

10:44
know cash surrender value to where

10:46
if you change your mind you can get

10:48
some or well a few companies still will

10:52
give all of the money back you know but

10:54
that's been changing recently

10:56
but yeah the plans are are completely

10:59
flexible benefits are guaranteed

11:01
premiums are guaranteed

11:03
and if you don't need care the money

11:05
comes back to the estate so with

11:08
my high net worth clients

11:10
who have assets

11:12
of three million dollars

11:14
you know or more or less again it

11:17
there's no risk to the plans because

11:19
we're just

11:20
taking money from from our our right

11:22
pocket and putting it into our left

11:24
pocket

11:26
it's still our money but if we need care

11:29
the insurance company you know puts in

11:32
their money

11:33
and there's plans that provide lifetime

11:36
unlimited long-term care coverage

11:39
forever if you need it so

11:42
so when when people go to ltcpartner.com

11:45
and they contact you

11:46
they just need to be very very specific

11:48
on what they're going to try to which

11:50
what they're trying to achieve and what

11:51
their hopes and wishes are for the

11:53
product you're going to tell them

11:54
whether it exists or not and if it does

11:56
you're going to quote all carriers if it

11:58
doesn't you're going to tell them yeah

12:00
you can get close to to what you're

12:02
dreaming of right here but once again

12:04
you're kind of looking at it as a

12:05
commodity product you're quoting on

12:07
carriers

12:09
tell everybody yes yes

12:11
all types of policies

12:13
you know traditional policies

12:16
you know the asset-based policies

12:18
you know whatever whatever my clients

12:20
want to consider i can show them what

12:22
the rates are based upon their age based

12:25
upon their health

12:27
you know for for any policy

12:30
why would somebody choose that

12:31
traditional policy jack why would

12:34
someone use that why would someone

12:36
choose the traditional policy

12:38
um the one that's that keeps lowering uh

12:41
you know the people who are buying it

12:42
the percentage lowers every single year

12:44
why are people choosing that

12:46
well it's

12:48
you know some people are more

12:49
comfortable with just you know let's say

12:52
someone has not a lot of liquidity for

12:55
example right but maybe they have a

12:57
pension

12:58
eight thousand dollars a year and social

13:00
security on top of that so maybe their

13:02
strength is just

13:04
guaranteed income right

13:07
and they might not have the liquidity

13:09
to maybe use towards an asset-based

13:11
policy well for someone like that the

13:13
traditional policy

13:15
if it's five or six hundred dollars a

13:17
month

13:18
and they know that they have 10 000 a

13:20
month of income for life

13:22
they could reposition some of their

13:24
income

13:25
and get and get the coverage very easily

13:27
you know so so

13:30
and then some people

13:31
don't mind just paying for insurance

13:33
right you know we have homeowners

13:35
insurance auto insurance

13:37
you know we write a check if we don't if

13:40
our house doesn't burn down

13:41
you know we don't get anything back so

13:44
you know there's nothing wrong with a

13:46
traditional policy the risk with the

13:49
traditional the one risk

13:52
the insurance company could change your

13:53
premium that's the risk

13:56
you know so so a premium could change so

13:59
you're getting into a contract on a

14:01
traditional policy

14:03
with the insurance company

14:05
where

14:06
they could

14:08
increase your premiums and that's what

14:10
that's that's what a lot of my clients

14:11
are concerned about with the traditional

14:14
is

14:15
the fact that the rates aren't

14:16
guaranteed

14:18
um

14:20
you know i mean medicare supplement

14:22
rates aren't guaranteed right health

14:23
insurance rates aren't guaranteed

14:25
it's not

14:26
anything different than other policies

14:28
that people

14:29
uh have

14:31
but i guess you know that's their

14:33
concern where the asset-based policies

14:35
everything's guaranteed the premiums are

14:37
guaranteed they can't change so with the

14:39
um the traditional policy and someone

14:41
that fits that that mold they're not

14:43
they don't have a large liquidity they

14:45
have an income stream coming in to cover

14:46
it

14:47
um

14:49
you know the concern and you tell them

14:50
up front is is the potential for the

14:52
increase in premium and we see that i

14:55
get those calls a lot um pass them to

14:56
you obviously that you know they're

14:58
raising it what do i do

15:00
um what's your answer to they're raising

15:02
it and what do i do

15:04
well if anyone's owned a policy if

15:06
anyone's owned an older policy that has

15:08
had a rate increase they're sitting on

15:10
gold

15:11
i mean just sitting on absolute gold

15:14
even with the rate increases they need

15:16
to

15:17
i mean in my mind just

15:19
write the check pay the premium don't

15:22
change their benefits at all because

15:24
they're in a definitely a position of

15:26
strength if they have an older policy

15:29
that was written between the years of

15:31
1995 and you know

15:34
2013. like those old policies are

15:37
gold because they were priced too low

15:41
so and we get a lot of calls as well

15:43
from from individuals nationwide who are

15:46
getting rate increase letters and

15:47
they've owned the policy for 10 or 15

15:49
years and

15:50
you know now they're dying to make

15:52
changes and it's not the time to make

15:53
changes they're older now

15:55
what they own is irreplaceable

15:57
irreplaceable it would cost tens of

15:59
thousands of dollars more to try to buy

16:01
anything new today

16:04
so they really just need to work within

16:06
the plan that they have and

16:09
you know either pay the increase or

16:11
modify the benefits within the plan that

16:13
they have

16:14
the newer policy i mean the policies

16:16
written today the traditional policies

16:18
are much less likely to have rate

16:21
increases

16:22
than the older policies because we have

16:25
rate stabilization guidelines in effect

16:27
now on the traditional policies today so

16:29
they are

16:30
much less likely to ever have

16:33
the rate increases

16:35
that's interesting i didn't i didn't

16:37
know that let's stay in the traditional

16:38
for a second

16:40
um qualifications

16:42
so what someone fits you've talked to

16:44
them um it's they have that that income

16:46
stream flow that can cover the monthly

16:48
premium they don't have the liquidity to

16:50
go and do an asset base it doesn't seem

16:52
appropriate and suitable

16:55
what are we looking at from the

16:56
standpoint of the underwriting process

16:58
can you walk the listeners and viewers

17:00
through that yeah absolutely so

17:03
and the different types of policies do

17:05
have some different underwriting so the

17:08
the hardest policy to qualify for will

17:11
be the traditional policy

17:13
all right so all the traditional

17:15
underwriters today have a consistent

17:17
underwriting protocol why is that hold

17:20
for a second why is that why

17:22
with the traditional one which seems to

17:24
be the one that where the money goes

17:26
poof right if you die you don't use it

17:28
right why is that why is that more

17:29
difficult to get because you're using

17:31
less money for the for more benefit

17:34
um well okay so so think of it this way

17:36
a traditional policy

17:38
someone writes a check for 400

17:41
a month

17:42
right

17:43
and

17:44
let's say the underwriter got it wrong

17:47
and after five months they're on claim

17:49
the underwriter collected two thousand

17:51
dollars and now you are immediately in

17:53
their pocket no more premiums and you've

17:55
got you know seven hundred thousand

17:58
eight hundred thousand of coverage or

17:59
whatever you bought and they owe it to

18:01
you for a couple of monthly checks

18:03
mm-hmm the asset-based policy i mean

18:07
even if they get it wrong

18:09
they're still using the asset for the

18:11
first two years of claims so they

18:12
totally

18:14
they're still hedged even if they really

18:17
get it wrong

18:18
they still have a hedge they don't want

18:20
to get it wrong they're going to

18:21
underwrite both you know they will both

18:23
underwrite they don't want to get it

18:25
wrong

18:26
but there's no hedge on the traditional

18:28
so the traditional on the rider is not

18:30
going to take any

18:32
underwriting shortcuts whatsoever

18:35
okay they never will so here's the

18:37
process with the traditional

18:39
if you are

18:41
under age 65

18:45
telephone health interview it will last

18:47
45 minutes

18:49
and they will do a prescription drug

18:51
report up front so they're going to see

18:53
all your medications they're gonna know

18:57
what you know what you've been treated

18:58
for so when they're interviewing you

19:00
you know you can't not

19:02
tell them something they kind of already

19:04
have their their their information

19:07
and they're gonna order medical records

19:09
from your primary care physician

19:12
and any specialist that you have seen

19:15
within the last five years so they're

19:16
going to get all of your medical records

19:18
within five years okay

19:20
they're going to interview you over the

19:22
phone

19:24
and they're going to do electronic

19:25
prescription drug report

19:27
okay the telephone interview over the

19:30
phone

19:31
they give a memory test now for

19:33
individuals under 65

19:35
usually not that complicated but that's

19:38
the process they're going to do full

19:41
medical record review

19:43
so

19:44
generally speaking everything will come

19:46
out in the wash on the traditional

19:49
application over age 65

19:54
they're going to meet with you face to

19:55
face

19:58
and give you the cognitive

20:00
screening screening test at your kitchen

20:02
table

20:03
okay

20:04
so so they're just they're doing

20:06
everything but the phone and they're

20:08
replacing the phone with the

20:10
face-to-face when you're over 65 right

20:12
over 65 is going to be a face-to-face

20:15
yes

20:16
but so and they're going to get all the

20:18
medical records sure so

20:20
so a traditional policy now there's no

20:23
exam right there's no exam

20:25
um

20:27
they do require to even apply

20:30
they do require

20:34
you've seen your doctor within the past

20:35
two years and

20:37
you've had full labs

20:39
in the past two years

20:41
whether you're below 65 or above 65.

20:44
that's right i can't tell you how many

20:46
people will call me and say i'm healthy

20:48
when's the last time you saw your doctor

20:50
i don't see a doctor because i'm healthy

20:53
62

20:55
1962.

20:58
you know so so again they want they want

21:01
a recent exam a recent checkup within

21:04
two years

21:05
you know with with labs the traditional

21:07
one the rider they will require that

21:10
so

21:12
you know it it's not easy to get

21:15
approved for the traditional policies

21:18
because

21:19
there could be a lot in your medical

21:20
records you know so on average

21:23
on average they decline 30 of

21:25
applications

21:27
on average and how long does that you

21:30
can't pinpoint it give me a range how

21:32
long does that process typically take

21:33
from start to finish

21:35
six weeks

21:38
traditional six weeks

21:40
got it

21:42
and when you interview people and they

21:44
call you just like people schedule call

21:46
with me and we talk annuities they're

21:47
gonna schedule call with you and talk

21:48
long-term care

21:49
um if they're leaning toward the

21:51
long-term care i'm assuming you're gonna

21:53
ask some pre-qualifying questions can

21:55
you steer people away from that if you

21:57
feel like it's going to be

21:59
um not approved or you know

22:01
quote-unquote a waste of time

22:04
well

22:06
you know at the end of the day i

22:07
pre-qualify everyone yes i mean

22:09
you know so i will let everyone know up

22:12
front

22:14
if we can submit an application and if

22:16
we're likely to be approved

22:18
you know so it's

22:21
you know

22:22
everyone i speak with i'm trying to

22:24
gather as much health information up

22:26
front so that i can make proper

22:27
recommendations

22:29
on

22:31
not just which avenue we have to go but

22:33
i mean even within the avenues the

22:35
underwriters are different

22:37
you know we could have

22:39
one traditional underwriter for instance

22:41
hates depression just hates any

22:43
medications that deal with depression

22:45
anxiety

22:47
another one doesn't

22:48
you know so again we have to know which

22:50
underwriter to go to even within an

22:52
arena

22:53
you know based upon the health history

22:58
so it's

22:59
you know it's a it's a challenging

23:01
process especially with traditional

23:03
because they're always getting medical

23:05
records and sometimes even when i speak

23:06
with my clients they don't

23:10
know everything

23:11
that's in their medical records

23:15
got it or they forget that they talk to

23:17
their doctor about something or you know

23:19
so

23:20
so sometimes they don't always

23:23
share everything with me up front that's

23:25
in their records for whatever reason

23:27
you know maybe a lack of knowledge

23:30
um

23:32
but it it

23:33
it can be a challenging process uh if

23:36
there's if there's information that's

23:38
that's adverse within medical records

23:41
um

23:42
the hybrid

23:43
asset-based policy policy

23:46
approval process is so much easier yeah

23:49
let's stay on the traditional for just a

23:50
second to ask a few more questions then

23:52
we'll go to the asset based

23:54
um

23:55
so

23:56
people need to understand when they

23:57
speak with jack or myself first of all

23:59
everything is confidential non-shared

24:01
non-sold all information uh we're very

24:04
we're very um serious about that so you

24:07
need to know that up front so you need

24:08
to be up front with jack when you talk

24:10
to him and he's gonna he's gonna bring

24:12
that out of you anyway with his decades

24:14
of experience and i think you've heard

24:16
kind of the reason you need to interact

24:18
with jack is because he knows

24:20
who to work with how to work with these

24:22
carriers to get you approved he

24:24
certainly can't guarantee approval but

24:27
he can he can give you guidance

24:30
and a reasonable expectation of what

24:32
would what would happen am i correct

24:34
about that oh absolutely i mean

24:36
everybody's time is valuable my clients

24:39
time is valuable

24:41
you know we don't like to create false

24:43
expectations

24:44
you know i'm very good at what i do i

24:46
generally get approvals

24:48
so

24:49
but i pre-qualify everyone because i

24:52
just you know

24:54
i don't want to have anyone get declined

24:56
you know i want positive outcomes

24:59
so and don't get mad if jack tells you

25:01
that you can't qualify based upon his

25:03
experience he's trying to help that's

25:05
also trying to help as well so

25:08
so that's the traditional side i think

25:10
it's very interesting a couple things

25:11
that you said which is

25:13
you know it's um it's still there and i

25:16
i thought you did a fantastic job

25:17
explaining who it's for

25:20
um which is that person that doesn't

25:22
have the the large liquidity to do an

25:24
asset based and that can afford it and

25:27
the reason i thought was fascinating

25:28
which was the the reason for the

25:30
stringent underwriting

25:32
with it is because

25:34
they have to they the carrier the issuer

25:36
has to get it right

25:38
um which leads you back to why you

25:40
should keep the traditional long-term

25:42
care if you've owned it for a while

25:44
which i thought was good so let's

25:46
anything to add on traditional before we

25:48
head toward the asset base anything we

25:50
forgot

25:51
um

25:53
no no it's

25:54
you know it's it's just a very constant

25:57
more than anything it's a very

25:58
concentrated arena there's only a couple

26:00
of underwriters left so that's you know

26:02
again it's it's concentrated arena

26:05
challenging arena

26:07
um

26:08
but it's absolutely still has its place

26:10
then absolutely that's it you just

26:13
really tied a good

26:14
nice little bow to that one let's

26:16
transition to the first type

26:18
of acid and i want to take them in

26:20
tranches so we've covered the

26:22
traditional the second one that you

26:24
primarily work with is a asset based

26:27
with an annuity chassis for lack of a

26:30
better phrase can we go down that path

26:33
to talk about that because let me let me

26:35
give some background to the listeners

26:36
and viewers

26:38
annuities

26:39
are issued by life insurance companies

26:42
long-term care annuities are issued by

26:44
health insurance companies correct

26:48
um

26:50
yes

26:52
yes

26:53
well no i mean it again it depends

26:57
that's why you're here jack lindenberg

27:00
i mean i i think

27:02
again the the long-term care annuities

27:04
is also a fairly concentrated arena and

27:06
one of the bigger players is a life

27:07
insurance company you know it's a life

27:09
insurance company

27:11
so um

27:14
so let's talk about the asset based care

27:17
with with the annuity chassis

27:20
how does that underwriting work jack

27:22
lindenberg

27:24
it's the easiest on the street

27:26
so so so where traditional is the

27:28
hardest

27:30
the annuity

27:32
long-term care policies telephone

27:35
interview

27:36
generally telephone interview only

27:39
i i

27:40
and and i can get an approval in the day

27:43
with some with one of my underwriters in

27:45
a day

27:47
telephone interview 45 minutes

27:49
prescription drug report

27:52
cognitive screening that's it

27:55
they they will generally never order

27:57
medical records

27:59
on the annuity approach so you control

28:02
the asset

28:04
explain

28:05
broad base because every every carrier

28:07
is different the the type of coverage on

28:09
an annuity chassis that's offering this

28:11
long-term care coverage

28:14
okay so

28:16
as a general rule they're going to

28:17
multiply the money that we deposit

28:20
so a common approach is

28:23
triple your money

28:24
you write a check for

28:26
a hundred thousand dollars today you

28:28
have three hundred thousand for

28:29
long-term care you write a check for two

28:31
hundred thousand now you have six

28:32
hundred thousand for long-term care

28:35
okay

28:36
um you know you can

28:38
you can

28:40
buy individual policies you can buy

28:42
joint policies you know cover a spouse

28:45
so they will triple your money and then

28:47
they will provide you long-term care

28:49
benefits

28:50
on an individual basis you know for six

28:53
years of coverage is a is a standard

28:55
plan

28:56
joint policies you can share

28:59
seven and a half years of

29:01
of coverage

29:03
between the two of you between the two

29:05
right

29:06
so it's it you know that we're going to

29:07
multiply the money

29:10
if care is needed long-term care

29:12
benefits are tax-free if care is not

29:14
needed the money that you put into the

29:15
annuity

29:17
comes back to your estate as a death

29:19
benefit

29:20
you know typically there can be a little

29:23
bit of growth

29:24
on the money but it's not an investment

29:26
play it's really a play for the

29:28
extension of benefits through long-term

29:31
care riders

29:33
so that's the purpose of the plan you

29:35
know we're not we're not going to be

29:36
making five or six percent on the

29:38
annuity so the accumulation of value on

29:41
that is like buying a bad cd you're

29:43
getting gonna get a small interest rate

29:45
on that amount of money that

29:48
you could walk away with in the future

29:49
would that be a simplistic way to put it

29:51
is that right yeah yeah i mean i've got

29:53
one underwriter now paying three percent

29:55
which is good that's real good it's just

29:57
not guaranteed right you know it's not

29:59
guaranteed they could they could change

30:01
that to you know one percent at their

30:04
discretion so

30:06
um and again there's costs of insurance

30:08
that's coming out of the crediting

30:09
interest anyway so it's

30:11
you know you're getting credited but

30:13
you're getting debited so the cash

30:14
values it's a wash

30:16
it's a wash you might get some gain but

30:19
nobody's doing it for the gain of the

30:21
cash values they're doing it to turn

30:23
a hundred thousand hundred thousand

30:25
dollars into three hundred thousand

30:26
immediately for long-term care now

30:29
now the you know you said they could

30:31
change the the interest rate crediting

30:33
rate on the accumulation value but they

30:35
cannot change the long-term care

30:37
coverage once you lock that in correct

30:40
no everything's guaranteed everything's

30:43
guaranteed

30:44
so

30:45
the person that would choose that option

30:49
yes

30:50
why

30:54
so

30:57
these policies will be the best for

31:01
applicants in their 70s

31:04
older applicants

31:08
or

31:11
possibly

31:13
due to health issues underwriting

31:16
issues if

31:20
they might not be able to qualify for

31:22
the other type of asset based policy

31:24
which is tied towards a life insurance

31:27
policy not an annuity you'll be ready to

31:29
talk about that one how what's the

31:31
what's the minimum is that is that a

31:33
deterrent

31:34
the minimum

31:36
uh premium because you're going to lump

31:37
summit this isn't this isn't flexible

31:40
correct this is a lump sum product

31:41
correct well single pa single pay

31:43
annuities where the life insurance

31:44
policies i can spread premiums out over

31:47
five or ten years

31:48
yeah but so single pay but assuming

31:50
we're going to write a check for a

31:52
single premium the annuity contracts are

31:55
priced really well for individuals in

31:57
their 70s

31:59
or individuals who might have some

32:01
health issues that might not then allow

32:03
allow them to look at other options

32:06
or it's a great fit for someone who

32:08
might have not you know might have gains

32:11
in a non-qualified annuity

32:14
you know significant gains over basis

32:17
and they want to do a 1035 exchange

32:20
and then if they need long-term care all

32:21
the gains come out tax-free

32:23
and for people what a 1035 exchange is

32:25
is the irs ruling if you're so bored

32:28
with no life and you want to look it up

32:29
section 1035 says

32:32
that you can take a

32:33
non-qualified non-ira annuity using

32:36
non-qualified assets and you can

32:38
transfer it without tax consequences

32:40
non-taxable event

32:42
to another annuity that's the irs 1035

32:45
so when you hear people say 1035

32:47
exchange you're exchanging an annuity to

32:50
another annuity but you're not paying

32:52
the taxes go backwards a little bit jack

32:54
and and talk to people about what you

32:57
just said quickly but i pulled that gold

33:00
nugget out

33:01
about an annuity with some gains in it

33:03
that you want to transfer to this

33:06
say that again

33:08
well sure so if someone has say they

33:10
bought an annuity you know 20 years ago

33:13
and they deposited 50 000 and the

33:15
annuities now worth you know with gains

33:18
220 000 and they're sitting on

33:21
you know 170 000 of taxable income

33:25
you know

33:26
they could do a tax-free exchange into a

33:29
long-term care annuity

33:32
you know and turn 220 into immediately

33:35
for example 660 000 that if they need

33:37
care it is all tax free

33:40
all those gains will be washed away

33:42
through tax-free long-term care benefits

33:45
under the pension protection act

33:48
so

33:49
all right hold up for a second hold for

33:50
a second is we got to let the people

33:51
that just fell off their treadmill and

33:53
pull their car over just to regroup just

33:55
a second

33:56
because

33:57
what you just said

33:59
applies to a lot of people that say

34:02
bought a variable annuity a long time

34:03
ago and forgot about it

34:05
and it's just kind of grown

34:07
and they can they can transfer it

34:09
without tax consequences and then reap

34:13
the rewards of a tax-free long-term care

34:15
benefit

34:16
by multiplying that asset again

34:20
oh the leverage the leverage is

34:22
incredible it's incredible to do that

34:24
there's a lot of individuals sitting on

34:26
gains inside

34:28
non-qualified annuities

34:31
going to be taxed at ordinary income

34:34
they have a need for long-term care they

34:36
want long-term care

34:38
we simply do a tax-free exchange and

34:40
then if care is needed

34:42
it all comes out tax-free

34:44
that is that is beautiful now if they

34:46
don't use it they transfer 1035 over to

34:50
the long-term care annuity and they

34:51
don't use the long-term care

34:54
well the basis gets transferred over so

34:57
again still in the same position got it

34:59
now you can use ira assets for these

35:01
long-term care annuities correct or not

35:03
correct i have one underwriter yes one

35:06
underwriter yes

35:07
yes

35:09
how about roth iras jack lindenberg

35:13
roth iras

35:15
well roth is you can just withdraw the

35:17
money with no taxable

35:20
do people use roth ira money with you

35:23
occasionally

35:25
um well yeah i mean rocks present no

35:27
problems sure you know because we can we

35:31
we can withdraw the money

35:34
tax you know tax-free but

35:36
but a a traditional ira

35:38
you know i have one underwriter that

35:40
will accept traditional iras

35:43
so

35:44
so traditional ira roth ira the sweet

35:47
spot is non-qualified annuity transfers

35:50
if you can do that but you can also just

35:52
take checking account money and get this

35:54
as well and once again the underwriting

35:56
process is not full underwriting but

35:59
phone correct

36:00
it's simplified telephone interview

36:03
easy process

36:06
a very easy

36:08
medical questionnaire that we just you

36:10
know complete up front

36:12
um

36:13
it's a yes or no questionnaire and if if

36:16
my clients answer no to all the

36:18
questions they're going to be approved

36:19
and it's a very easy

36:21
very easy process to get the long-term

36:24
care annuities extremely easy

36:27
so we've got the traditional that takes

36:29
six weeks and if they're gonna look

36:30
they're gonna look at you with a

36:31
fine-tooth comb as they say then you

36:34
have the long-term care annuity which

36:36
can be approved in as soon as a

36:38
day um

36:41
if all of the uh all of everything's

36:43
lined up and and jack and his staff will

36:45
certainly do that for you if that makes

36:47
sense

36:48
and then before we move on to the the

36:50
last the form of asset care that i want

36:53
to talk about

36:54
just remember everyone listening if you

36:56
have that non-qualified non-ira

36:59
non-qualified means non-ira for everyone

37:01
out there that doesn't know that um

37:04
non-ira annuity with some gains inside

37:06
of it and you're really not sure what to

37:08
do with it and you need long-term care

37:11
coverage

37:12
just remember this could be the best

37:14
podcast you've ever heard and yes i do

37:16
accept thank you notes and omaha stakes

37:18
jack does too

37:19
um that

37:21
this might be a place for you to at

37:22
least contact jack and say you know what

37:25
i got this variable annuity

37:27
and i put 50 grand in it's now worth

37:29
300.

37:30
um

37:31
you know me and the misses me and the

37:33
wife whatever

37:34
need to get or look at long-term care

37:37
this could be a very simplistic and

37:39
quick way to do it if you qualify

37:41
correct

37:43
correct

37:44
and

37:44
you don't even have to exchange the

37:46
entire amount you can do a partial

37:48
exchange

37:50
if you have you know 50 into 300

37:53
you could end up

37:55
deciding to just transfer half keep half

37:57
in the variable annuity that you have

37:59
transfer half over into the long term

38:01
care annuity so

38:03
you know that's very that's fantastical

38:06
options

38:07
jack you just get get better looking to

38:09
us with each podcast recordings

38:11
phenomenal

38:12
um let's transition to

38:15
the third one i want to cover and i

38:17
think i think this is maybe you can

38:18
correct me but this these are kind of

38:20
the three tranches am i missing

38:22
something getting ready to go to the

38:23
third one

38:24
we're not missing anything there's three

38:26
correct okay here's the third one

38:28
everybody so

38:29
rev that treadmill up or car whatever

38:31
you're doing

38:32
um

38:34
it's it's asset based life insurance

38:38
that has long-term care coverage i said

38:40
a lot there jack and i said it slowly

38:42
let's dig in let's talk about how you

38:44
qualify for that animal

38:46
all right so the asset based life

38:49
insurance underwriting

38:51
is

38:53
similar but more comprehensive than the

38:55
asset based

38:57
annuity

38:59
underwriting

39:00
so for the most part

39:02
the asset based life insurance

39:04
underwriters they will start with the

39:07
telephone health interview that's where

39:09
they'll start

39:12
75 percent of the time

39:14
will get an approval right after the

39:16
interview so it can be very similar and

39:18
and as easy as the the the annuity

39:21
approach

39:22
however if during the course of the

39:25
interview

39:26
they feel that they need to gather and

39:29
obtain more information at their

39:32
discretion

39:35
they can order medical records

39:38
and if they're ordering medical records

39:40
now we're probably down to a 50 50 shot

39:43
of getting approvals

39:44
you know um

39:46
so how long's the process it could be a

39:48
day up to what if they start digging in

39:50
how long does that take

39:52
yeah so it it's

39:54
again now we're at the mercy of our

39:57
clients doctors

39:58
so anytime there's medical records

40:00
because

40:01
you know just like the traditional

40:03
underwriter always orders medical

40:04
records so the average time is six weeks

40:06
it's because they always order medical

40:08
records so we're we're just at the mercy

40:10
of the specific

40:12
doctor's office and the copy service

40:14
that they use and sometimes we get the

40:17
records in two weeks

40:18
sometimes it could be four

40:21
sometimes

40:23
well

40:24
it could just be longer if you got to

40:26
get the car and go

40:27
go get the records

40:28
yeah so so it's a it's a process i would

40:32
say though you know on average

40:36
four weeks

40:37
four weeks if they dig in ordering if

40:39
they need the record if they need the

40:40
records it can be quick if they don't

40:42
right

40:43
oh yeah i mean if they don't i i the

40:46
turnaround time for these

40:49
applications is usually

40:53
it's usually five five to ten business

40:56
days at most

40:58
so you have a life insurance policy

41:00
which we all know that that's the best

41:02
um legacy product

41:04
ever because it uh the death benefit

41:06
goes tax-free probate free lump sum to

41:09
the beneficiaries it's the best as i

41:11
tell people the best return on

41:12
investment you you will never see

41:13
because you're dead

41:15
tell us how inside of that policy jack

41:18
lindenberg how does that long-term care

41:20
coverage work

41:22
well it will depend upon how we design

41:24
the plan

41:25
okay so but but it's going to look a lot

41:28
like

41:29
you know just a traditional long-term

41:31
care insurance policy monthly benefit

41:34
how much per month do we want for

41:35
long-term care benefit period how many

41:37
years of benefits are we buying

41:39
you know these policies are typically

41:41
six years of benefits or lifetime

41:43
unlimited

41:44
and inflation protection are we growing

41:47
the money to keep up with the rising

41:49
cost of care

41:51
so the planning with all of these

41:52
long-term care policies really just

41:54
revolve around

41:56
the same three issues over and over

41:58
again how much per month do you want for

42:00
the cost of your care

42:02
how many years of coverage do you want

42:05
how much inflation protection do you

42:07
want

42:08
so the

42:09
the benefits are going to be designed

42:11
around those three factors

42:14
say this again jack for the people say

42:15
those three factors one more time three

42:17
factors monthly benefit how much do you

42:20
want your check to be every single month

42:22
if you need care

42:23
okay whether you're in your own home

42:26
whether you are

42:28
in assisted living room and board

42:30
whether you are in a nursing home what

42:33
do you want your monthly check to be

42:36
every month tax free

42:39
so that's the first piece of the puzzle

42:41
second piece of the puzzle how long do

42:43
you want your monthly check to come to

42:45
you

42:46
how many years do you want

42:48
in your plan

42:51
average stay is about three and a half

42:53
years

42:54
eighty-five percent of individuals will

42:57
need care for

42:59
less than six years

43:01
fifteen percent of people will need care

43:03
for greater than six years stan you know

43:06
that's a lot that's higher than i

43:07
thought that's a lot oh yeah i mean so

43:10
that i mean well it's why a lot of

43:12
underwriters don't sell lifetime

43:14
unlimited benefits

43:16
i have one i have i have two

43:18
underwriters that do

43:19
still sell lifetime unlimited

43:22
two underwriters that do and one of the

43:24
underwriters it's priced very well the

43:26
other one is not nobody buys it even

43:28
though it's offered

43:29
but i have one on the rider on the

43:31
asset-based side still offers unlimited

43:34
but that's you know so if my clients

43:37
if they're concerned that three or four

43:39
or five years of coverage isn't enough

43:40
we just you know

43:42
unlimited and then the third thing is

43:43
what inflation protection oh you're just

43:46
singing everyone's song out there jack

43:48
you're

43:49
remember i told you you're getting more

43:51
and more attractive at this point you're

43:52
the brad pitt of long-term care for gosh

43:54
sex

43:55
inflation let's talk about that how's

43:57
that work

43:59
well you know

44:01
if we buy a monthly benefit today and if

44:04
it doesn't have inflation protection

44:06
right so if we buy 5 000 a month in

44:08
coverage and we need care in

44:11
you know 20 years we still have 5 000 a

44:13
month

44:14
if we put inflation protection in the

44:17
plan you know we're going to have 9 000

44:19
a month instead of five in 20 years

44:22
it automatically grows your money

44:25
guaranteed

44:26
by the inflation factor that you choose

44:29
so this is a customizable product

44:31
everything is customizable this is

44:33
customizable this is hey jack i wanted

44:36
to do this

44:37
i want this amount of money i want it to

44:39
increase with inflation and i want it to

44:41
last for this amount of years or for

44:42
life jack lindenberg go find it for me

44:45
are there a lot of asset based life

44:48
insurance carriers doing this is this

44:50
the

44:51
sweet spot everyone it's it's it's it's

44:54
it's

44:55
totally customizable there's a price for

44:58
every seat on the bus wherever you want

45:01
to sit there will be you can you can sit

45:02
anywhere you want

45:04
design your plan however you want yeah

45:06
and you know there's a different premium

45:08
for every seat on the bus

45:10
no no jack my learjet hits the mountain

45:12
i'm in my learjet i just bought this

45:14
from you right i rented the learjet from

45:16
netjets because it's a warren buffett

45:18
owned company as you know

45:19
and it hits the mountain

45:22
and i die

45:23
what happens to the money jack

45:26
tax-free to your estate stan

45:29
my goodness

45:31
so

45:34
what else what else am i missing from

45:36
the standpoint here so they you can get

45:38
it done as soon as a day or they they

45:40
dig in and do some underwriting which

45:41
then lessens your chance of getting it

45:43
but it's fully customizable from the

45:45
standpoint of amount of money inflation

45:47
and length of time

45:49
um

45:53
what am i missing here you should i mean

45:55
this is this your king for the day here

45:57
what

45:58
that sounds good

46:01
yeah it's it's what everybody's doing

46:03
today everybody's doing these types of

46:05
plans everybody

46:07
you know repositioning assets

46:09
you know

46:12
inflation-adjusted long-term care

46:14
benefits if that's how we design it yeah

46:16
some policies look good if we

46:18
somewhat good with inflation some the

46:20
way their price looked good without but

46:22
however we design it

46:24
you know you can get lifetime unlimited

46:25
benefits if you want it and if care is

46:28
not needed the money comes tax free to

46:30
the estate

46:31
and we can use ira and 401k rollover

46:33
money for these plans too

46:36
so unqualified in ira and 401k so um

46:39
it's certainly

46:40
you know worth um

46:42
you know connecting with jack and the

46:44
reason we're doing this podcast is i got

46:46
a lot of people saying well that sounds

46:47
great but how i mean i need to know more

46:49
about the qualifications i think we've

46:50
done a pretty good job pat myself on

46:52
back a little bit and you too i can't

46:54
reach that far in atlanta um but

46:58
but i think this helps people now let's

47:00
let's go to the dark side just for a

47:02
second jack

47:03
somebody calls you up

47:05
they get jack londenberg the top expert

47:07
long-term care in the country it's not

47:08
even an argument and he comes back and

47:11
is brutally factual because he is

47:13
brutally factual and honest

47:15
and uh he says

47:16
i can't help you with the darn thing

47:18
because you're smoking two bottle i mean

47:20
you're smoking a carton of cigarettes

47:22
every day and drinking two bottles of

47:23
jack daniels would that make you a bad

47:25
person

47:26
but you might not get coverage

47:28
now the dark side is

47:31
there is an annuity that has a

47:33
guaranteed issue kind of doubler that if

47:35
you go to the bad chicken dinner seminar

47:38
and the guy stands up there in a bad

47:40
leisure suit and says

47:42
i can get you up front bonus an index

47:44
annuity and long-term care number one

47:47
all that's crap okay

47:50
but it is the last resort if jack can't

47:53
find something for you and typically in

47:56
my world they call them income doublers

47:57
where it's an income rider where if you

47:59
qualify they just double the income for

48:01
a specific period of time i don't want

48:03
to spend much time on that jack because

48:05
i want the people to know that if

48:06
they're calling for long-term care if

48:08
they're going to call me for long-term

48:09
care i'm going to refer them to you

48:12
you're going to exhaust

48:14
those three tranches traditional

48:17
long-term care annuity long-term care

48:19
life insurance with long-term care if

48:21
you can't cover them then you'll come

48:23
back to me and say stan not they can't

48:25
qualify then at that point in time we

48:27
will visit an income rider with what's

48:30
called a confinement care benefit it is

48:32
not long-term care it's confinement care

48:34
um

48:36
that's what we've been doing jack i just

48:38
want to let people know that you're

48:39
going to hear things at the bad chicken

48:41
dinner or expensive steak dinner seminar

48:43
that sounds fantastic one size fits all

48:45
it is not it to get

48:48
a good long-term care coverage product

48:50
you are going to have to go through some

48:52
underwriting

48:53
do you agree with me jack londenberg oh

48:55
some underwriting yes and again it's

48:59
it can be really really easy or really

49:02
really challenging you know just

49:04
depending upon the health history of the

49:06
individual

49:08
i can usually within about

49:11
90 seconds

49:12
know everything i need to know

49:14
regarding you know will i be able to get

49:17
my client

49:19
approved declined which policy will be

49:22
best

49:23
i mean

49:24
minute and a half

49:26
conversation and i'll know everything i

49:28
need to know generally next time i talk

49:30
to your wife i'm going to say 90 really

49:32
90 seconds do you fall in love with this

49:34
cat in 90 seconds there's no way

49:37
you know um i kid hey jack

49:41
what have we missed i think we've done a

49:43
pretty good job covering this and i want

49:44
my listeners and viewers to feel

49:46
comfortable

49:47
to contact jack or myself if you haven't

49:49
caught it yet

49:50
we're kind of old curmudgeony dude's

49:52
been doing this a long long time there's

49:54
no you know we have cowboy boots older

49:56
than most advisors that are out there

49:59
don't hesitate to contact us if you want

50:00
to look under the rock and and see if

50:03
this type of coverage works for you but

50:05
if you're looking for if you've been

50:06
looking for that long-term care person

50:08
that you can trust guess what

50:10
you found him um you know we're going to

50:12
keep putting them on the program to

50:14
explain these products over and over and

50:16
over

50:17
what specific things do you think we

50:19
missed jack or were we just fantastic

50:21
well i think you know i think

50:23
with long-term care underwriting you

50:25
know i think

50:27
where individuals misunderstand

50:31
whether or not they're going to be

50:32
approved or declined

50:34
you know like the common the common

50:36
comment i get the when someone calls me

50:39
initially is

50:41
i have no cancer i have no heart disease

50:43
i have no diabetes i i it's like

50:45
everybody wants to tell me that i have

50:46
no cancer i have no heart disease i have

50:48
no diabetes okay

50:51
what do you have

50:55
they're automatically going to get

50:56
approved i have no cancer i have no

50:58
heart disease i have no diabetes what do

50:59
you have

51:00
well

51:02
you know and then we dig deeper and it's

51:04
woo

51:05
you know i

51:07
i i i

51:09
have you know physical therapy and i've

51:11
had some injections you know the last

51:13
few months and and

51:15
try to control the pain you know things

51:17
like that things that they think are no

51:19
big deals you know

51:21
um that are huge deals for long-term

51:23
care underwriting just absolutely huge

51:25
and they will find out

51:28
yeah i mean you know can you know

51:31
breast cancer you know a year ago two

51:33
years ago prostate cancer like nobody

51:35
cares nobody cares about stuff like that

51:38
they will give you your policy a heart

51:39
attack

51:40
10 years ago you will get your policy

51:43
you know ongoing physical therapy with

51:45
injections right you know very

51:48
challenging um

51:50
you know

51:51
osteoporosis with a history of a

51:53
fracture

51:55
right

51:56
where my clients want to tell me you

51:58
know why they slipped and fall you know

52:00
what they were carrying down the steps

52:02
and and and give me underwriter doesn't

52:04
care how it happened they care did you

52:06
fall see i would tell i would say listen

52:09
it was my wife's fault

52:10
um she was talking to me while i was

52:12
trying to focus and then i turned three

52:14
flips and hit my head um

52:17
but they're they're looking so so the

52:19
under long-term care underwriting is all

52:21
about stability

52:24
and control

52:26
you're allowed to have issues

52:28
but are the issues managed

52:32
stable non-progressive right stable

52:36
and controlled

52:38
that's what long-term care underwriting

52:39
is

52:40
stability and control if they're not

52:43
stable and they're not well controlled

52:44
the underwriter will say

52:46
come back to us in six months or 12

52:48
months after you show us a history of

52:50
stability and control

52:52
you know so so that's what they're

52:54
looking for and there's just a lot of

52:56
issues that revolve around muscles bones

52:59
joints

53:01
depression anxiety

53:03
chronic fatigue fibromyalgia

53:06
stuff that has nothing to do with cancer

53:08
heart disease and diabetes

53:13
i think it's important for people to

53:14
when they go

53:16
uh to your site again ltcpartner.com and

53:18
connect with jack

53:20
put your fists down put them down

53:22
get your defenses down

53:24
have a conversation with jack be very

53:26
honest up front and forthright with him

53:29
and he can find the solution for you if

53:31
there is a solution to be had

53:34
but to go in it

53:36
not trying to hide things go in and open

53:38
and and have him he's the top guy in the

53:40
country have him look at it he

53:42
represents pretty much every carrier out

53:44
there if not all and he's going to find

53:46
the best contractual guarantee and the

53:49
customized solution based on what you

53:51
tell them based on

53:52
on your situation i think it's important

53:54
jack that we found out today

53:56
that you are the best the brad pitt

54:00
of long-term care you just get more and

54:01
more attractive with each time we talk

54:03
to you

54:04
um

54:05
any last

54:07
items before we close this wonderful

54:09
podcast out

54:12
i just want everyone to remember

54:15
you buy long-term care insurance with

54:18
your health

54:19
that's what you buy it with your health

54:23
you may pay for it with your money

54:25
but

54:26
you got you're walking through the door

54:28
of approval

54:30
with your health so it all comes down to

54:33
underwriting perfect perfect all comes

54:36
down to underwriting hey jack you're

54:38
going to be on another podcast whether

54:40
you want to or not because the people

54:41
still need more from you this has been a

54:44
a great uh if you haven't listened to

54:46
jack's first podcast with us go to my

54:48
site at

54:49
theannuityman.com and under podcast

54:52
you'll see the list and he'll be there

54:54
we're going to post this one as well

54:56
jack lindenberg it's always a pleasure i

54:58
consider you a friend and respect you as

55:00
the top expert

55:02
in long-term care in the country thank

55:04
you so much for joining us you're

55:06
welcome stan thank you for having me

55:08
once again always a pleasure

55:10
being with the top annuity expert in the

55:13
world

55:15
the world

55:16
there you go and for everybody listening

55:19
to this podcast on all major platforms

55:21
and viewing it on the youtube channel

55:22
fun with annuities i want to thank you

55:24
for joining us and i will see you

55:27
next week

55:33
thanks for listening to fun with

55:35
annuities please hit the subscribe

55:36
button and make sure to go to my site at

55:39
the annuityman.com where you can run

55:42
your own spea dia and culat quotes and

55:45
see a live feed of the best micah fix

55:47
rates in the country and even get

55:49
indexed and income rider quotes as well

55:52
you can also sign up for my six annuity

55:55
owner's manual books and i'll ship them

55:56
for free and under no obligation i also

56:00
encourage you to schedule a one-on-one

56:02
call with me stan the annuity man so we

56:05
can have a full discussion of your

56:07
specific situation it will be the best

56:10
brutally factual and truthful advice

56:12
you will ever get and that's one

56:14
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56:16
advantage of so join me next time for

56:18
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56:21
planet

56:22
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56:22
with annuities

56:26
[Music]

56:37
you