Ask Terry Questions Funding Long Term Care Insurance

Funding Long Term Care Insurance

By Terry Savage on June 01, 2024 | Insurance & Annuities

I read your article regarding rolling over money from an IRA into an annuity to fund Long Term Care Insurance. Can I roll over money from a 401k into annuity for the same purpose

Terry Says

Yes — IF the 40l(k) plan offers that option. Most limit you to the investment choices within the plan.

If you’ve stopped working, then you should probably roll over the entire 40l(k) to an IRA rollover.  REad this:  Rollover Now – Terry Savage

Then it’s easy to make the move into paying for LTCi.

So first ask your plan — then get expert LTCi advice as described in that column to make the transition correctly.  Only a few companies offer this kind of setup in combo policies.



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