AALTCI Campaign Targets Personal Financial, Retirement and Money Bloggers to Address 1035 Exchanges

Los Angeles, CA, March 28, 2018 --(PR.com)-- A little known financial planning strategy that can help consumers gain no-cost long-term care insurance protection is the focus of a special campaign undertaken by the director of the American Association for Long-Term Care Insurance (AALTCI).

"Today we are targeting personal financial columnists and bloggers and media reporters who address retirement planning issues with information about a powerful planning opportunity," declared Jesse Slome, director of the national long-term care insurance organization. "There are millions of seniors with annuities and life insurance policies who could basically exchange for a newer policy and thus gain no-cost potential tax free long-term care benefits."

Slome cited a little known provision approved by Congress that enables an individual to do what's called a 1035 exchange. "Simply, let's say you currently have an annuity with your what-if money, meaning it's there for those what if situations that may arise, such as a need for long-term care," he noted. "That's great but should you need to tap the annuity there could be tax consequences, taxes at a time when you need every dollar available to pay for those what if costs."

By taking advantage of a 1035 exchange, Slome explained that you simply convert your current annuity for one that meets the provisions specified by Congress. "Your funds continue to grow but here's the real benefit; if you need dollars to pay for long-term care, they can be paid out 100 percent tax free."

The Association just published an informative Guide To 1035 Exchanges that can be accessed online. "We want to make retirement reporters and those who cover money matters for seniors to read the guide and convey this powerful retirement planning technique with consumers," Slome added. The guide can be accessed at www.aaltci.org/1035-exchanges.

There is nearly $3 Trillion held by Americans in annuities according to AALTCI. "In addition, there are countless others with life insurance policies that they purchased when they had a need to protect their families during their working years," Slome added. "In retirement, their protection needs have changed and certainly nothing could be more important than planning for the real risk of needing long-term care. A 1035 exchange from and existing life insurance policy to another that also provides LTC benefits could be most beneficial at this time."

Consumers and insurance agents who want to learn more about long-term care insurance costs and planning options can call the American Association for Long-Term Care Insurance at 818-597-3227 or visit the organization's website to find and connect with local LTC insurance professionals.