Optimized Advisor Podcast

Unlocking the Hidden Gems of LTC: Transforming Tax-Deferred Annuities into Tax-Free Benefits with Brad Shepard, One America

Episode Summary

Scott was joined by Brad Shepard for a virtual episode about Long-Term Care. Fall and the Holidays will be here before you know it and November is LTC Awareness Month.

Episode Notes

Scott was joined by Brad Shepard for a virtual episode about Long-Term Care. Fall and the Holidays will be here before you know it and November is LTC Awareness Month.

For the past 24 years, Brad has enjoyed an area of focus in selling, training and marketing Long-Term Care and Linked Benefit solutions. His current role, Regional Sales Director, with OneAmerica is to help distribution partners, advisors and agents develop and grow their Long-Term Care Planning business through extensive business planning, marketing, training and support. He has also been a speaker, on the topic of Long-Term Care Planning, at hundreds of educational seminars, workshops and webinars across the country.

Brad is a Pennsylvania native and a graduate of the University of Pittsburgh. He resides in New Bloomfield, PA with his wife, Denise, son Logan, and daughter Linsay.

In this episode you will learn the following:

LTC Awareness: November is LTC Awareness Month, not to be confused with Long-Term Care Insurance Awareness Month. The focus is on planning and awareness of long-term care needs, especially relevant during family gatherings in the holiday season.
Pension Protection Act (PPA): The PPA, effective since January 1, 2010, allows for the tax-free distribution of gains from non-qualified annuities if used for long-term care expenses. Despite its benefits, it remains relatively unknown among financial professionals.
Tax Benefits and Plan Design: The PPA allows for tax-deferred gains within non-qualified annuities to be used tax-free for LTC. This involves a 1035 exchange to a PPA compliant annuity, potentially doubling or tripling the annuity value for LTC benefits, providing significant financial leverage.
Client Examples and Practical Applications: The discussion includes real-life examples and practical advice for advisors on how to leverage non-qualified annuities for LTC planning, emphasizing the importance of educating clients about these tax advantages.

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