We all know a traditional Long Term Care policy can help with long-term care expenses. But, did you know it can give your clients tax advantages too?
Current tax laws allow your clients to deduct either the actual or eligible premium paid for a tax-qualified LTCi policy. The eligible premium is determined by the Consumer Price Index and the age of the policyholder.
And, since most Long Term Care policies are tax-qualified, benefits paid are intended to be tax-free as long as they do not exceed the greater of:
- Qualified LTC daily expenses
- The per-day limitation which is set each year by the Internal Revenue Code
We have a new agent tax guide that is available now that gives detailed information on this unique advantage of our traditional policy. You can download immediately here or call us at ISN Network 800-338-1892 x 1