New 1035 Exchange Guide
A new guide published by the American Association for Long-Term Care Insurance (AALTCI) kicks off a national campaign to heighten awareness for the use of 1035 exchanges for effective and tax-advantaged LTC planning.
The AALTCI Guide To Long-Term Care Planning Using Using IRS Approved Exchanges formally launches the national consumer and insurance-focused campaign.
“Section 1035 exchanges are one of least known planning strategies,” declares Jesse Slome, executive director of AALTCI. “Every insurance agent and financial professional who has prospects or clients in their 50s, 60s and 70s are going to need to familiarize themselves with the significant advantages they provide.”
“Americans have $2.8 trillion in fixed and variable annuities and we know far too few older adults have a financial strategy to deal with the real risk of needing long-term care,” Slome reports. “Many of these individuals could benefit by taking advantage of a 1035 exchange; repurposing an existing annuity into one that continues to accrue but also can provide.”
To access the new guide online visit the American Association for Long-Term Care Insurance’s website at www.aaltci.org/1035-exchanges.
MESSAGE TO CONSUMERS: The Association has made this informational guide available online. You can read it from any device and NO SIGN-IN information is required to access and read the guide. If you find the information of value we encourage you to discuss with your current insurance or financial professional. Or, if you prefer, complete the online form (also on the web page) and we will connect you with one knowledgeable independent professional familiar with how these exchanges work as a benefit for consumers.
MESSAGE TO INSURANCE AND FINANCIAL PROFESSIONALS: You may also access and read the guide online. It can also be downloaded. As the Association moves forward on it’s awareness efforts we will decide next steps. Watch the Association’s website for more details.
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