Do Indexed Annuity Income Riders Offer LTC Coverage?: Q&A Friday

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welcome to Q&A Friday I'm your host Stan

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the annuity man America's annuity agent

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licensed in all 50 states today's

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question is do indexed annuity income

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writers offer long-term care

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coverage so do index annuity income

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writers writers that are attached to

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index fixed index annuities do those

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income writers offer long-term care

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coverage short answer is no and let me

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tell you why even though you might have

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heard otherwise long-term care

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is a great product but it's a health

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insurance product income writers

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attached to index annuities index

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annuities are life insurance products

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okay so if someone's saying that the

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index annuity income riter offers

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long-term care coverage that is not true

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and in a lot of cases agents don't even

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know why that's not true but it's not

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true long-term care is its own animal

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and it's a health insurance animal and

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it involves underwriting whether it's

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simple underwriting or full underwriting

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there's three different types of

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long-term care coverage you know there's

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traditional and then there's asset-based

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and if I would tell you to if you if you

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want a good referral go to my site at

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the annuity man.com and contact us and

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we'll give you that person um that that

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organization that we refer long-term

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care to but what the income Writers Do

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offer not all but some is what's called

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a doubler and a D buer means that in

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English and in southern when you get

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sicker you get your money back quicker

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it's nothing more than that it's it's

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guaranteed issue which means if you're

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drinking a bottle of Jack Daniels every

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single day and and smoking a full carton

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of Lucky Strikes with no filter first of

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all God bless you okay you're a goal

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Setter but second of all anybody

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qualifies you're just going to get your

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money back quicker when you get sicker

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and when you prove to the annuity

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company that your life expectancy is

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less than projected if you were healthy

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but that's not long-term care

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okay it is not long-term care whatsoever

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it's confinement care enhanced benefit

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there's all kind of semantic word games

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that are played out there but what I

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would tell you and this is very

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important the the the main thing I want

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to tell you is if you have long-term

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care coverage of any type real long-term

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care do not replace it with income

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writer doublers please income writer

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doublers should be for the person that

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cannot qualify at all for any types of

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long-term care that health insurance

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product and this is their only option

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albeit not a really good one because

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you're going to get your money back

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quicker when you get sicker meaning that

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it's going to draw down subtract from

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that total faster so I know I threw a

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lot at you please go to my site at the

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annuity man.com schedule call with us

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we'll be more than happy to explain you

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can go to my site also and um get a book

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that I've written on income writers for

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free and you can read the chapter on

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confinement care and all that stuff

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long-term care Etc but just don't fall

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for a sales pitch that this index

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annuity or variable annuity gives you

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long-term care with the income writer it

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does not long-term care is a health

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insurance product and a very very good

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one if you can qualify for it that's Q&A

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Friday have a great weekend I'll see you

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next time