No matter how much you plan for the future, life can throw you an unexpected curveball.
It is never fun to think about taxes and death, but these things are expected in life so we plan for them in advance. Sometimes life throws something unexpected your way so how do you plan for the unexpected? What can we do to plan for these curveballs that life is throwing at us and how can we best utilize the tools we have in front of us to get the most out of our insurance policies?
In this episode of The Chris Berry Show, I'll talk about the different types of long-term care policies and which ones will best protect us and our families in times of need.
In this episode, you'll learn...
- Chris' positive focus for the week.
- How you can have the perfect plan in place, but you never know when life is gonna throw you a curveball.
- About long-term care and asset-based long-term care.
- Why Chris let his traditional long-term care insurance policy lapse.
- About the different types of life insurance.
- About the different uses for permanent life insurance
- Ways to contact the The Chris Berry Show if you want to submit a question for Chris to answer in a future episode.
- Information on the upcoming workshops that Chris is putting on.
- The key issues with a traditional long-term care insurance policy and why you may not want one.
- The major benefits of having an asset-based long-term care policy instead of a traditional long-term care policy.
- How you can pay for long-term care in a tax-free way.
- The differences between permanent life insurance and term life insurance.
- What an index universal life insurance policy is, how it works, and what you can do with it.
- How find the the right life insurance policy for you.
Q&A
In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:
- A client asked: My spouse passed away with lots of medical bills. Do I have to pay those? We have a house owned jointly and I was a beneficiary of her retirement account.
- Levi asked: "My wife and I are both in our 50s and are expecting a large check from her father's estate in the amount of about $100,000. It's in the final stages of process and we should receive our portion within 90 days. The question is, what should we do with this check once we receive it?"
- Ronnie asked: "Do grandchildren have a right to an inheritance, and does their name have to be on the will to receive it, and can they fight it?"
- Larry asked: "Is life insurance a good way to leave money to my children?"
- Donald asked: "How can I get my deceased mother's money from the bank? She has money at the bank, but passed away."
Links & Resources
TheElderCareFirm.com
CJBerryGroup.com
TheChrisBerryShow.com
Michiganestateplanning.com
Register for one of our free estate & asset protection workshops
Farm Bureau Insurance
Follow us on Social Media
Twitter: www.twitter.com/ElderCareFirm
Facebook: www.facebook.com/chrisberryshow
LinkedIn: www.linkedin.com/in/christopherjberry
