About the Alumni Plan

What Is Different (Better) About This Plan?

Your premiums are discounted due to your Alumni affiliation. Your policy is tax-qualified and your insurance benefits are tax-free and can be estate tax-exempt. In some cases premiums can be tax-deductible. Your policy can never be cancelled as long as premiums are paid.

You have numerous plan design choices which can be customized to meet your own personal objectives, includingenhanced benefits for home health care, and inflation protection choices which include uncapped automatic benefit compounding (increasing the likelihood benefits will keep pace with inflation.) A cash benefit feature (with no restrictions) can be built into the plan design and your insurance benefits would be paid to you in any setting you choose – including the privacy and comfort of your home. (A shared care benefit option, can increase flexibility. )

As an option, premiums can be returned if benefits are not used – if you don’t use it you don’t lose it. You can now buy a long-term care insurance policy with a guarantee that 100% of your premium payments will be returned to your beneficiaries when you die. This means that the maximum cost of the insurance to your family unit has been reduced to interest; the interest you might lose by not being able to invest the premiums.

The combination of these tax-advantaged features and benefits creates unique wealth transfer and planning opportunities. Increasingly high net worth individuals are purchasing long-term care insurance. The issue may not be“need” in the strictest sense, but one of not wanting to be financially uncomfortable, or not wanting to put millions of dollars of principal at risk. This risk is insurable. For these individuals, the insurance purchase becomes a pure risk management decision.