Another Advantage of Traditional LTCi

Posted on November 1, 2018 by Jeffrey Berson

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

About Jeffrey Berson

40 years in and around the industry has made Insurance a part of my DNA. I have had the pleasure of working with and for some of the greatest minds in our industry. My "Bersonal" View is an attempt to capture some of the best ideas, the best concepts and the best practices in a way that can lead to success for others. It will certainly be my point of view, so please...don't take it "Bersonal".

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1 Response to Another Advantage of Traditional LTCi

Chris Conrad says:

November 1, 2018 at 8:59 am

Hey Jeff, I am assuming traditional meaning a Mutual of Omaha or Genworth policy Inspire has written in the past, not One America or Lincoln Asset based LTC (life insurnance)? I think I know but always good to hear from the expert.

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