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Regardless of what survey you read or what poll you listen to one thing is very clear,  people  today are living longer, largely a result of modern pharmacology’s ability to convert an acute illness into a chronic illness.  As a result they will now require  many additional months and years of custodial or skilled care  costing additional billions of dollars .  However despite the fact that  over 50% of our adult population   according to the American Medical Association will require some  sort of long term care , lasting on average 3 years , less than 8% of the population has thus far purchased a traditional Long term Care  insurance product..

Make no mistake about it as people live longer there will be an ever increasing  need for  more custodial , intermediate and skilled  care required by  our aging population. However what seemed to stand  in most  

can a person aged 60-85 that has had various medical problems ranging from high blood pressure heart disease osteo-arthritis diabetes and even cancer still obtain life insurance or long term care care insurance?
The answer is yes depending on which insurance company an application is turned into.

Often times I hear the following questions from the 30-40% of the into one of the following 2 categories:

THOSE THAT HAVE ALREADY APPLIED FOR COVERAGE  AND BEEN TURNED DOWN

Several years ago a well known  Financial Author  asked me to write a chapter for her book containing what I  thought was my best and most clever use of life Insurance that her readers would find unique and of  

Our current financial situation will make any buyer of any new financial product think twice about what they are buying as well as the integrity of whom they are purchasing the product from. However what many people miss is the need to be be as equally vigilant in evaluating those assets they already own.

WELCOME WALL STREET JOURNAL READERS!

Chances are pretty good that if you stay healthy eat right and take care of yourself you’ll get to live a long healthy life. The Trusted Expert in our network want to remind you that with longevity comes an added responsibility to do things today to help you financially and emotionally prepare for that long life. This type of planning helps assure yourself that the rest of your life will be filled  

There’s nothing more disturbing than to see an individual using an inappropriate Life Insurance product for their needs.  For example if one wants to have maximum protection with the lowest cost possible, for a specific time period say 5-30 years ending by age 80) you should only consider Term Insurance.  An example of where this is appropriate involves the breadwinner of a young family desiring to provide maximum coverage so that his Family can continue their lifestyle in the manner they were accustomed to even if the breadwinner were no longer here to provide for their monthly living expenses and college costs.

If on the other hand you want your insurance to last beyond age 80, for example to create an inheritance for your kids or grandkids, or to be used to pay for your estate tax if you are not married, then and only  

A fixed annuity is an accumulation planning vehicle that allows an individual to accumulate money they’re not going to need for at least 5-7 years. One of the benefits of this type of vehicle is that it offers a return significantly larger than usually offered in a bank CD or money market fund.  In addition it allows the money to accumulate on a tax deferred basis. In addition It is GUARANTEED by the Life Insurance company that issues the contract.  Even in this day and age  of Bailouts and failed financial institutions that GUARANTEE is extremely meaningful as not one investor has ever lost a nickel in a failed Life Insurance contract.

In today’s volatile investment climate, which you may have noticed, an Immediate annuity may be an excellent investment vehicle for the individual who wants to assume absolutely no market risk yet be provided with a guaranteed income for the rest of their lives. With the assurance that it will be significantly higher than what could be earned in a CD. I suppose a favorable tax treatment wouldn’t hurt either right?