Posts: 15,427 Death proceeds used for funeral expenses will avoid probate costs and delays. The NGL Funeral Expense Trust protects this policy from Medicaid spend down/long-term care costs. The company is licensed in throughout the US and Washington, DC, with the exception of New York. We at My Family Life Insurance do not think that is bad. I founded My Family Life Insurance to provide honest, trustworthy advice and economical insurance solutions to individuals, families, and business owners. End of life expenses are no different. Karl Dovnik, Jr. - Elder Law Attorney - How to do a Medicaid Spenddown using Funeral Trusts. Can your current agent say this? Here’s what we will discuss: NGL (National Guardian Life) established in 1919. Most importantly Medicaid can’t require you to use the cash value in your life insurance policy to pay for nursing home costs. It’s true. protecting one’s assets against nursing home costs. DelcoUSA Training Videos; Live Radio Show; Contracting. 40 National Guardian Life Insurance Company reviews. You might obtain a death benefit of $30,000. Instant Approval! The NGL Web Portal is a simple platform providing you with instant access to … Lebanon, PA and the surrounding communities. Guaranteed issue if you answer yes. It ensures your heirs that money will be there upon your death. Most seniors who require nursing home care rely on government programs to pay their costs. 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. Standard or guaranteed issue payment plans include Single pay, one year pay, and 3, 5, 7, and 10 year multi-pay plans. Can be used in addition to any other trust you may have. Funds used for funeral expenses are protected from creditors. “Way!” I respond. • Privacy Policy • Marketing by Vision Advertising. NGL Funeral Expense Trust benefi ts T $12,500 maximum. *IRC Code Sec. We also offer funeral pre-planning and carry a wide selection of caskets, vaults, urns and burial containers. Additionally, your designated beneficiaries receive money after the funeral expenses. How To Get Approved For Term Life Insurance Wicked Fast | No Medical Exam! Page 1 of 2 1 2 Next > Offline thall Guru. That means no matter what you will get the policy and your funeral funds will always be there. 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 AssetGuard is a simplified issue life insurance policy. AC Thompson Insurance & Financial Services is pleased to offer Funeral Trusts as part of an overall estate plan. National Care Planning Council (NCPC) National Academy of Elder Law Attorneys; Marketing Products; Review Letters; Estate Trust PowerPoint; Funeral Trust PowerPoint; DelcoUSA Videos. NGL AssetGuard is a simplified issue life insurance policy. I think we can all agree DHS is not in the business of making stuff up, right? Notice this insurance does not have a height/weight chart and no outright diabetes question, either. Be sure to check your state for a specific asset list. Your money essentially works for you from day 1. The trust through NGL AssetGuard protects your money from creditors and Medicaid spend-down rules. You might obtain a death benefit of $30,000. ... National Guardian Life Insurance Company is not affiliated with The Guardian Life Insurance Company of America a.k.a. 164 were here. It’s true. 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. NGL AssetGuard is NGL’s only life insurance policy. NGL AssetGuard is a little different compared to other types of life insurance. Final Expense For Brokers 2016 | All Rights Reserved. National Guardian Life Insurance Company (NGL) Irrevocable Funeral Trusts are the final piece of the financial planning puzzle! National Guardian is a mutual company controlled by its policy owners and is licensed to do business in 49 states and the District of Columbia. For multi-pay, issue age is up to age 80. NGL Funeral Expense Trust Life's most memorable milestones require planning. including a life insurance policy. That means your estate receives $5,000. Everyone age 55+ needs to consider establishing a Funeral Trust. National Guardian Life was founded in 1910. The process is simple and, in many states, the assignment to the trust is part of the application. However, if you contribute $15,000 to NGL AssetGuard, you might obtain a death benefit of $15,750. The funeral expenses are $10,000. No Agent! National Guardian Life - Paul Henney Cremation and Funeral Tributes Inc. offers a variety of funeral services, from traditional funerals to competitively priced cremations, serving Bethel Park, PA and the surrounding communities. Combined, they represent a powerful combination to protect your assets while ensuring the money is there for your funeral. The whole life policy offers $50,000 face amount for single pay and $25,000 for 3pay, 5 pay, 7 pay and 10 year pay. Our well-designed preneed, final expense, paired with our high-quality service, allows us to reaffirm our dedication to you. transferring the cash value from a life insurance policy. Life's most memorable milestones require planning. If we can’t help you, then you’ve learned something new, and we will part as friends. 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. Unity Financial; National Guardian; Global Atlantic; Register As we mentioned, the combination of the NGL AssetGuard and The NGL Funeral Expense Trust creates a powerful combination. You can either pay with a single premium or over multiple years of 3, 5, 7, or 10 years. (4) the trust and funds are portable. Contact me if you have any questions. For example, you have $15,000 in the trust. The below picture shows which assets are countable towards or not. That means you can’t borrow from the life insurance policy, terminate it, or anything like that. A.M. Best rates NGL at A-, which is the 3rd highest out of 15 rankings. An Irrevocable Funeral Trust isn’t your normal life insurance policy. We Go Into Detail What The “Best” Means, 3 Important Things Doulas Need To Know About Disability Insurance | Learn About This Important Insurance. We focus on niche markets including preneed, individual life and annuity products, as well as specialty and student insurance. 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. There’s no risk to contacting us. It is called the NGL Estate Planning Trust. This may exclude the policy as an asset in order to qualify for Medicaid. This is the money you are protecting from nursing homes and the Medicaid spend-down process. Financial Rating: A- (Excellent) by A.M. Best, Featured Product: Asset Guard Final Expense. End of life expenses are no different. ... "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. They also offer their popular NGL Funeral Expense Trust and The NGL Estate Planning Trust. National Guardian Life Insurance Company (NGL) is an American insurance company located in Madison, Wisconsin. View all posts by John, Your email address will not be published. Fill out the form below and we will email you additional customer literature, explaining these options in more detail. Simple and easy. The trust protects your money. We discuss both of these next. National Guardian Life. Funeral Expense and Estate Planning Trusts, Two-page application and one-page trust document, About 95% of death claims are processed the same day. I am a CFP® Professional and have an MBA. See the diagram below. This chart will help your understanding. Creditors can’t get at your money inside a funeral expense trust. 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). It could be. Remember if you answer “yes,” you would have the guaranteed issue plan, so you will always obtain insurance. The process is similar to their funeral trust. Then he or she stops this important coverage altogether, leaving his or her family exposed to a potential financial burden. Does it require a lot of effort to start?” you ask. However, Medicaid could make claim to that policy if you are in a nursing home. “Are you currently on oxygen, hospitalized, receiving hospice care, or residing in a nursing home, long term or residential care facility, or group home; or during the past two years have you been advised by a medical professional to have any surgical procedure that has not been performed; or have you been treated or are you being treated (including medication) by a medical professional for any of the following diseases or disorders: Why is this important? The issue age is one of the benefits of NGL AssetGuard. Quick and easy access to your personal and corporate data. Americans are living longer, in large… Read More Offline Newby Guru. This means NGL has the financial strength and ability to service and meet their policyholder obligations. “It seems like it.”. Let’s talk about the advantages of the NGL funeral expense trust in more detail. $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 “I see that, John. Also, the maximum one can contribute is $15,000, subject to state laws. National Guardian Life Insurance Company is not affiliated with The Guardian Life Insurance Company of America, a/k/a The Guardian or Guardian Life. It can either be a single premium or a multi-pay policy. Moreover, there is no cost to establish the trust. 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). Congestive Heart Failure, Immune System Disorder, Chronic Obstructive Pulmonary (lung) Disease, Amputation (caused by disease), Heart Disease, Cirrhosis of the Liver, Emphysema, Alzheimer’s/Dementia, Stroke, Drug or Alcohol Dependency, Amyotrophic Lateral Sclerosis (Lou Gehrig’s Disease), Cancer (other than skin), Kidney failure (including dialysis), Diabetic Coma/Insulin Shock”. Jim, I know you are trolling,no need to post to make an offer. • The ability to exclude Once this funeral trust is set up, you can’t change it! What makes NGL AssetGuard even more unique is that it can sit inside NGL’s irrevocable funeral expense trust. Easily access your data. Fact is, 7 out of 10 will have a long-term care need in their future. In the article, we offer a review of NGL AssetGuard as well as the NGL Funeral Expense Trust. You may not know this, but Medicaid considers most of your assets, including permanent life insurance, as a countable asset. Aug 9, 2010. I wrote a lot of business ove rthe last 3 years with National Guardian Life between the Funeral Trust products and the Estate Planning Trust Insurance product. More importantly, the death benefit from the trust is not taxable—your beneficiaries will receive the full amount that is owed. An irrevocable funeral trust is a guaranteed issue product with no underwriting. This is an important advantage, and the reason why I included it as a. Posts: 402 Likes Received: 0 State: Georgia. The combination of the two creates a powerful combination of paying for your funeral expenses as well as protecting one’s assets against nursing home costs. There are two types of trusts currently available: 1. Recall that your gross estate receives any balance left over in the Funeral Trust. There is no risk! We will determine if the NGL AssetGuard/Funeral Trust meet your goals and objectives. 300 Brickstone Square The advantages of the NGL Funeral Expense Trust stand out. On a single pay, an applicant can be up to 99 years … But, within a funeral trust, this $15,750 is protected from nursing home cost claims. Carl Wackerle - Vice President - National Guardian Life With NGL's Funeral Expense Trust you can set aside funds for your funeral. Ambassador. “That’s nice John,” you say. The Guardian or Guardian Life. Maybe it is not. $100,000 – $249,999 National Guardian Life. 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. You have two choices: either single pay or multi-pay used for Funeral expenses are protected from creditors Medicaid! The 1-Question Sales Presentation: National Guardian Life Trust Info Expense products through independent agencies and directors... In 1909 and sold its first insurance policy, terminate it, or anything like.... Policy if you answer “ no, ” you would have the standard plan. 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