* It’s true. Most importantly Medicaid can’t require you to use the cash value in your life insurance policy to pay for nursing home costs. Instant Approval! National Guardian Life was founded in 1910. Funds used for funeral expenses are protected from creditors. That means you can’t borrow from the life insurance policy, terminate it, or anything like that. There are two types of trusts currently available: 1. Funeral Expense and Estate Planning Trusts, Two-page application and one-page trust document, About 95% of death claims are processed the same day. thall, Aug 9, 2010. thall, Aug 9, 2010 #1. Guaranteed issue if you answer yes. All rights reserved. You might obtain a death benefit of $30,000. However, if you contribute $15,000 to NGL AssetGuard, you might obtain a death benefit of $15,750. First, we discuss their AssetGuard product. In 2011 NGL received an A- … In conjunction with National Guardian Life Insurance Company, AC Thompson’s funeral trust plans offer: Peace of mind for you and your family; Guaranteed issue – Up to the age of 99; Growth for inflation protection This statistic comes from the Department of Health and Human Services. On a single pay, an applicant can be up to 99 years … Let’s say you purchased a traditional whole life policy with a single premium of $15,000. Simple and easy. $50,000 – $99,999 Batesville Homesteaders Matthews International Michigan Funeral Directors Association New York State Funeral Directors Association Precoa Selected Independent Funeral Homes & Selected Educational Trust Trigard/Darby Family Most seniors who require nursing home care rely on government programs to pay their costs. An irrevocable funeral trust is a guaranteed issue product with no underwriting. Unity Financial; National Guardian; Global Atlantic; Register NGL Funeral Expense Trust $15,000 maximum (or City/State limit, if less) The ability to help exclude assets in order to qualify for Medicaid and SSI* when applying immediately The Trust will pay funeral costs with any excess funds going to the estate of the insured NGL Estate Planning Trust $100,000 maximum (or state limit, if less) The process is similar to their funeral trust. “That’s nice John,” you say. If you answer “no,” you have the standard insurance plan. Advocate. If we can’t help you, then you’ve learned something new, and we will part as friends. Maybe it is not. AC Thompson Insurance & Financial Services is pleased to offer Funeral Trusts as part of an overall estate plan. Offline Newby Guru. You might obtain a death benefit of $30,000. (2) your heirs (and yourself) will have peace-of-mind knowing your funeral is already taken care of. Be careful what other websites tell you. What makes NGL AssetGuard even more unique is that it can sit inside NGL’s irrevocable funeral expense trust. 101(a) FET Trust Flyer 08/07 National Guardian Life Insurance Company (NGL) In our opinion, this insurance could be the easiest and most efficient final expense or burial insurance policy that we have worked with. DelcoUSA Training Videos; Live Radio Show; Contracting. offers agents the resources and information you need to improve your Final Expense sales. No one does. Can be used in addition to any other trust you may have. Standard or guaranteed issue payment plans include Single pay, one year pay, and 3, 5, 7, and 10 year multi-pay plans. NGL Funeral Expense Trust Each of these policies is intended to help your family deal with end-of-life expenses. The trust protects your money. For multi-pay, issue age is up to age 80. NGL is rated one of America's most successful independent mutual life insurance companies. However, we used the term “irrevocable” before. National Guardian Life’s product combined with an irrevocable Funeral Expense Trust or Estate Planning Trust offers an increasing death benefit for final expense planning. This chart will help your understanding. Through NGL AssetGuard, here are ways to fund the trust: You will essentially transform countable assets for Medicaid into a non-countable asset. This brings us to another point: it’s hard to compare the NGL Assetguard and Funeral Trust to another final expense or burial insurance policy. Contact us to find out or use the form below. Working with one of America’s oldest and most successful mutual insurance companies provides agents with a guarantee single pay or multi-pay Funeral Expense Trust. Most people don’t have proper long-term care protection, leaving their assets at risk to pay for long-term care services. The trust through NGL AssetGuard protects your money from creditors and Medicaid spend-down rules. The issue age is one of the benefits of NGL AssetGuard. Remember if you answer “yes,” you would have the guaranteed issue plan, so you will always obtain insurance. Quick and easy access to your personal and corporate data. Its Settlers Life Insurance subsidiary in Virginia markets final expense products through 2,800 agents in about 30 states. Take a look at the chart below. • The ability to exclude That is nice to hear, and I don’t plan to either. View all posts by John, Your email address will not be published. The below picture shows which assets are countable towards or not. This means NGL has the financial strength and ability to service and meet their policyholder obligations. A.M. Best rates NGL at A-, which is the 3rd highest out of 15 rankings. On a single pay, an applicant can be up to 99 years old to qualify. I am a CFP® Professional and have an MBA. There’s no risk to contacting us. Standard or guaranteed issue payment plans include Single pay, one year pay, and 3, 5, 7, and 10 year multi-pay plans. National Guardian Life Insurance Company (NGL) Web Portal. It includes an increasing death benefit and is used as part of NGL's asset protection planning via an irrevocable funeral expense trust or estate planning trust. How To Get Approved For Term Life Insurance Wicked Fast | No Medical Exam! And, if you already have a permanent life insurance policy with cash value, Medicaid will force you to terminate the policy and use the cash value to pay for long-term care / nursing home costs. Since 1910, National Guardian Life Insurance Company (NGL) has consistently been rated one of America’s most successful, independent mutual life insurance companies. Well, you can’t break this trust once established. Nina Herseberger - Out of the Box Marketing that really works. One caveat: it is hard to compare this to a traditional final expense insurance policy. Carl Wackerle - Vice President - National Guardian Life You can either pay with a single premium or over multiple years of 3, 5, 7, or 10 years. Establishing the NGL Funeral Expense Trust does not require much effort. We Go Into Detail What The “Best” Means, 3 Important Things Doulas Need To Know About Disability Insurance | Learn About This Important Insurance. As we mentioned, you have two choices: either single pay or multi-pay. National Guardian Life Insurance Company is not affiliated with The Guardian Life Insurance Company of America, a/k/a The Guardian or Guardian Life. One way to pay for your funeral expenses in advance is to purchase a funeral insurance policy, also known as final expense insurance.When buying life insurance policies, you can assign a beneficiary to receive the death benefit, such as a family member, a friend, or anyone else who you trust. National Guardian Life’s product combined with an irrevocable Funeral Expense Trust or Estate Planning Trust offers an increasing death benefit for final expense planning. As you can see from the above, one of the unique characteristics of NGL AssetGuard is that its application contains one health question (some states have 2, including an HIV/AIDS question). This is an important advantage, and the reason why I included it as a. It is called the NGL Estate Planning Trust. ... "Don't trust the executive team" 1.0 ... leader in the preneed industry for their superior customer experience and collaborative partnerships with agents and funeral homes," said Jennifer. We talked about NGL AssetGuard, and you should have a good understanding about the product. protecting one’s assets against nursing home costs. I founded My Family Life Insurance to provide honest, trustworthy advice and economical insurance solutions to individuals, families, and business owners. Fact is, 7 out of 10 will have a long-term care need in their future. Required fields are marked *. Whereas the maximum contribution to the Funeral Trust is $15,000, the maximum contribution to the Estate Planning Trust is $100,000 (subject to state rules). The Guardian or Guardian Life. We focus on niche markets including preneed, individual life and annuity products, as well as specialty and student insurance. That means no matter what you will get the policy and your funeral funds will always be there. Combining National Guardian Life (NGL) with Legacy Safeguard service provides agents a unique and powerful marketing tool. Advantages Of The NGL Funeral Expense Trust, Now You Know The Powerful Combination Of NGL AssetGuard And The NGL Funeral Expense Trust, Medicaid could make claim to that policy if you are in a nursing home, type of burial insurance you should consider buying, Medicaid considers most of your assets, including permanent life insurance, as a countable asset, 7 out of 10 will have a long-term care need in their future, protecting your money from nursing home costs, What Are The Best Medicare Supplement Plans In Massachusetts? An Irrevocable Funeral Trust isn’t your normal life insurance policy. You’ve probably never heard of NGL or a funeral expense trust (or funeral trust, for short). Once this funeral trust is set up, you can’t change it! Today, the firm offers a suite of pre-planning and final expense insurance products that can help you pay for your funeral and related costs. Recall that your gross estate receives any balance left over in the Funeral Trust. The issue age is one of the benefits of NGL AssetGuard. This is the money you are protecting from nursing homes and the Medicaid spend-down process. “I don’t plan needing assisted living.” Your policy will be gone. National Guardian Life - Laughlin Memorial Chapel, Inc. offers a variety of funeral services, from traditional funerals to competitively priced cremations, serving Mt. Your death benefit operates on a graded schedule. The NGL AssetGuard product sits inside the trust, protecting your money from nursing home costs and ensuring your money is there to pay for your funeral. Funeral Insurance or Final Expense Insurance Policies. The advantages of the NGL Funeral Expense Trust stand out. Let’s say you purchased a traditional whole life policy with a single premium of $15,000. Easily access your data. However, Medicaid could make claim to that policy if you are in a nursing home. Note, check your state to see which assets are countable or not.”. If I can't help you, you've learned a little more, and we'll part as friends. We also offer funeral pre-planning and carry a wide selection of caskets, vaults, urns and burial containers. Everyone age 55+ needs to consider establishing a Funeral Trust. This may exclude the policy as an asset in order to qualify for Medicaid. If you answer “yes,” do not despair: you will have the guaranteed issue plan. “Way!” I respond. Funeral Trust and Pre-Need Featuring the industry leaders Check all that apply . That is who we are at My Family Life Insurance. The American Association for Long-Term Care Insurance shared 10 interesting facts everyone should know about long term care planning: 1. National Guardian Term Life Insurance offers a variety of services, including: Flexible products, including trust options Convenient credit card premium-pay Call for Quotes : 844-217-5486 Toggle navigation There is no risk! It was formed in 1910 and is an independent mutual life insurance company and is licensed to do business in 49 states and the District of Columbia. NGL operates in the niche insurance space, offering several different kinds of insurance and annuities for specific situations. There are differences, however. This is very important to understand. It markets its products through independent agencies and funeral directors. NGL Funeral Expense Trust • $15,000 maximum (or state limit, if less) • The ability to help exclude assets in order to qualify for Medicaid and SSI* when applying immediately • The Trust will pay funeral costs with any excess funds going to the estate of the insured • $50,000 maximum (or state limit, if less). In fact, it’s more of an annuity. You don’t need to feel that way with the NGL Funeral Expense Trust. What do you think? While that does not seem like much, consider this: (1) when a nursing home or long-term care services deplete your assets, saving anything you can will matter Anyone can qualify. “I see that, John. Completely FREE (No Fees) Funds are totally portable – used with any funeral provider. National Guardian Life Trust Info. Ambassador. We will explain why. NGL Funeral Expense Trust Life's most memorable milestones require planning. Save my name, email, and website in this browser for the next time I comment. Page 1 of 2 1 2 Next > Offline thall Guru. NGL Estate Planning Trust 2. We only provide insurance solutions which meet your goals and objectives. NGL AssetGuard is NGL’s only life insurance policy. NGL AssetGuard is a little different compared to other types of life insurance. They also offer their popular NGL Funeral Expense Trust and The NGL Estate Planning Trust. Moreover, there is no cost to establish the trust. NGL also provides quick payment options so you… Death proceeds used for funeral expenses will avoid probate costs and delays. (4) the trust and funds are portable. Interested in learning more about the information in this article? We will determine if the NGL AssetGuard/Funeral Trust meet your goals and objectives. Call or Text: November is National Long Term Care Awareness Month which means it is the perfect opportunity to learn more about what long term care is and the need for it. More importantly, the Estate Planning Trust must be created at least 5 years before long-term care services start (the look-back period). Can your current agent say this? The NGL AssetGuard sits in the trust. I recently was told I have a chargeback on a sale i did over 13 months agoin the Estate planning insurance trust. The company is licensed in throughout the US and Washington, DC, with the exception of New York. End of life expenses are no different. Posts: 402 Likes Received: 0 State: Georgia. 300 Brickstone Square The NGL AssetGuard creates a life insurance policy that works for you day 1. NATIONAL GUARDIAN LIFE ... MUTUAL OF OMAHA NATIONAL GUARDIAN LIFE LIFESECURE GENWORTH TRANSAMERICA STATE LIFE ONE AMERICA LINCOLN MONEY GUARD … Source: *AARP Funeral & Burial Planners survey published November 2007 Trust Options The NGL Trusts have no trust fees, and can be used in addition to any other trust you may already have. It’s true. Also, the maximum one can contribute is $15,000, subject to state laws. , an applicant can be established even when the insured is in the article we... As a care protection, leaving his or her family exposed to a Trust nice to hear, and Medicaid..., which is the NGL Funeral Expense Trust in more detail policy as an asset in order to for! No matter what you will get the policy as an asset in order to qualify for Medicaid a! 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