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21 Tarpaulin Way Wareham, MA 02571 Phone: (508) 291-7000 |
Frequently Asked Questions |
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bdk Services |
Why should I do business with Healthy Assets? |
Because we have your best interests at heart. While we are in business to make a profit, we will NEVER sell you a product if it is not right for you. We would rather not make a sale than sell you a product that is not going to help you. |
How do you get paid? |
We receive commissions from the companies that write the policies. We do not receive payments from our clients. |
What is an annuity? |
I have heard annuities are not a good investment. |
What is an irrevocable trust? |
What is spend down? |
What does the five year look back mean? |
Why do I need an attorney? |
Today's new fixed annuities are, guaranteed not to lose principal. If you put in 100k you will always have 100k plus interest. Fixed annuities have upside potential with no downside risk. |
An attorney can advise you on what is and is not a good program for you. An attorney will give you an unbiased opinion because they do not have a financial gain in the sale of an insurance policy. Most attorneys do not have the required license to sell insurance and most insurance agents are not licensed to practice law. |
An annuity provides regularly scheduled payments to an annuitant (you the buyer) from a financial institution (the seller) for a fixed period of time or until the buyer passes away. The buyer pays for the annuity, either in a lump sum or in installments, prior to receiving payments from the annuity. |
An irrevocable trust means that once the trust is finalized it cannot be changed or revoked in any way. |
Spend down means using your assets to pay for your care until you reach the asset level that qualify for Medicaid. Asset and income thresholds vary by state. In Massachusetts monthly income must be less than $2,686 for single residents and $10,268 for married couples. Assets must be less than $2,000. |
Any transfers you make into an estate or some other vehicle must occur 60 months prior to applying for admittance into a nursing facility. |
A veteran owned business |