In business since 1991, Actuarial Strategies has gained distinction by identifying product solutions to market opportunities. We bring a broad understanding of client needs, market requirements, pricing and risk issues, project parameters and implementation requirements to help our clients turn opportunities into financial and market successes.
The Pension Protection Act (PPA) passed in 2006 creates major opportunities for insurance and LTC combinations under certain conditions. There is major activity going on in the industry in this segment mostly in anticipation of the January 2010 effective date, but also a fair amount of work for those who want to enter the market earlier.
This Act provides favorable tax treatment of suitably structured long term care benefits within annuities, thus in effect transforming a tax-deferred vehicle into a tax-free vehicle when so used. The market need for such offerings is great. Customers can use the combination to address both traditional annuity needs and long term care needs in one instrument.
The implications of PPA are particularly promising because no other financial security (e.g., mutual funds) can provide the same type of benefit to clients, and consequently the insurance industry has the opportunity not only to expand sales but to collectively increase market share at the expense of such competing offerings.
Actuarial Strategies, Inc. may well have a leading market share in the combination arena, and certainly it is one of the top providers. We have been in the combination business since 1996 (HIPAA) and have been actively involved in the annuity side even before the passage of PPA. Our services are comprehensive, so we can help guide or complete an entire project for a company, or contribute more selectively. Many companies, for example, don’t want to become a full service LTC provider, but would like to provide LTC to drive their annuity business. How to do that? A feasibility study can answer how to do just that. Of course, we design and price products as well -- indexed, variable, or fixed; life, deferred or immediate annuities.
We welcome your inquiries.
|
Without doubt, the passage of the Pension Protection Act of 2006, which extends the Health Insurance Portability and Accountability Act’s favorable treatment of combination life and long term care policies to combination annuity...
The Pension Protection Act’s qualified long term care insurance provisions for annuities and life insurance contracts will become effective on Jan. 1, 2010. But insurers are already gearing up to address the related opportunities and challenges...
Simplified issue life insurance products have always been sold in the U.S. and have always aroused the keen interest of the of the industry. Because of their ease of issue and speed of sale, they form an important part of...