Disclaimer: With Medicaid, VA, and insurance regulations frequently changing, past blog posts may not be presently accurate or relevant. Please contact our office for information on current planning strategies, tips, and how-to's.
At The Krause Agency, we offer several products and services to help boost your business. However, it’s our top three products that can make the most difference in the lives of your senior and retirement-age clients. Beyond our products alone, when you work with us, you can rest assured you’re getting expert advice and support from our team of specialists.
Medicaid Compliant Annuity
The Medicaid Compliant Annuity (MCA) is a single premium immediate annuity used in crisis Medicaid planning. This product is designed to help clients who have already entered the nursing home and need to find an immediate solution to preserve their assets. The MCA accomplishes this by converting assets that would otherwise prevent Medicaid eligibility into an income stream with zero cash value.
There are multiple strategies and considerations involved when it comes to the MCA, but we have a variety of educational resources to help train you on this crucial product. Plus, our team of Benefits Planners specializes in MCA strategies, and they are available to walk you through every case.
Long-Term Care Insurance
While the MCA is a great solution for clients already in a nursing home, you need to offer your clients an option for pre-planning as well. That’s where Long-Term Care Insurance (LTCI) comes in. This product is ideal for retirement-age clients looking to preserve their assets now and in the future. In essence, LTCI allows your clients to plan ahead and avoid a crisis situation down the road.
We offer both traditional and asset-based LTCI policies, and, like our MCA, we have an entire team of specialists devoted to servicing agents looking to sell this product. Whether you’re new to LTCI or you’re already familiar with the product, we can help.
Funeral Expense Trust
MCAs and LTCI are complex products that can only be used in specific cases, so if you’re looking for a simpler product to add to your business as you begin your relationship with Krause, look no further than the Funeral Expense Trust (FET). This product consists of a small whole life insurance policy that is irrevocably assigned to a trust controlled by the insurance company. Upon the client’s passing, the funds are available to pay for their funeral expenses.
Since every client needs a funeral, the FET is the perfect add-on product for nearly any client planning for their future. Plus, when structured properly, this product can be used in conjunction with an MCA in crisis Medicaid planning.
Ready to Learn More?
If you have questions about our products, services, or how we can best work together, simply contact our office!