LTC in the News
The word is spreading. Major news outlets are letting the American people know the importance of long-term care planning. Are you? Here are a few recent third-party articles.
- APNews.com – Retirement Planning Should Include Long-Term Care Costs
- ThinkAdvisor.com – Completing the Retirement Planning Puzzle: Where Long-Term Care Fits In
- ThinkAdvisor.com – 12 Best Big Cities for Successful Aging: 2017
Long-Term Care Insurance Tax Deductible Limits Increase
Long Term Care Insurance (LTCI) remains one of the most tax advantaged planning solutions available. Not only are the benefits paid tax-free (IRC 7702b), but policyholders may deduct some or all of their premiums. The Internal Revenue Service has announced it will be increasing the amount long term care insurance policyholders can deduct from their 2018 taxes for owning coverage. Note that the per diem limit for indemnity benefits has not increased for 2018, and remains the same as 2017 at $360 per day. Read more
Failing to Plan: Long Term Care Insurance and The Estate Plan
Benjamin Franklin, the venerable inventor, statesman and intrepid leader, once said, “If you fail to plan, you are planning to fail!” Much the same can be said for the general populace and their attitude toward long term care and estate planning; nobody plans to fail, but they often fail to plan. As producers and advisors, 70 percent of those with whom we will come into contact will require some degree of long term care at some point in their lifetime. Read more
Funding A Tax-Advantaged Long-Term Care Insurance Plan
Long term care is a risk that we all know needs to be funded. In the absence of LTCI coverage, the burden of long term care can shift to family and friends. For high net worth individuals, setting aside sufficient assets dedicated to pay future long-term care expenses is one possible strategy. Unfortunately, self-insuring of future long-term care expenses has its limits: Assets currently grow slowly in today’s low interest rate environment, especially if there are taxes to be paid on the accumulating funds.
5 Things an Asset-Based LTC Veteran Sees Today
Pat Foley is right in the middle of the action for life insurance policies and annuity contracts that offer long-term care (LTC) benefits. As president of individual and retirement services at OneAmerica, he works for an Indianapolis-based company that has been offering “hybrid LTC” products, or “asset-based LTC” products, before the hybrid products were cool. Here’s a look at five things Foley said he’s seeing in the market for LTC solutions now. Read more
Long-Term Care Marketing Resources
Long-Term Care Planning Solutions – What’s the Best Fit?
The pros and cons of long-term care planning solutions in a simple, easy to use chart. View chart