Frequently Asked Questions

Yes, the IRS allows you to deduct long-term care insurance deductibles from your annual tax returns. The exact amount varies according to age, about 7.5% of your Adjusted Gross Income. Check with your CPA.

The premiums paid, minus any long term care benefits used, will be returned to your family in the form of life insurance, tax free.

Anyone who wants to ensure they have quality care in their old age should apply for Hybrid LTC plan. This policy guarantees that you won’t have to depend on your loved ones to provide care, because you can have a professional at-home nurse or are able to cover the costs associated with an assisted living facility or nursing home.

When you’re young and healthy! 

• The younger you are, the more money you’ll have available to use.
• Couples get discounts.
• Policies can be paid off before retirement.
• You may be able to transfer your unused life insurance premium into an HLTC plan via a 1035 exchange.
• Depending on the policy, your money will be credited at 3% interest and will be compounded monthly or annually.
• Any money paid into the plan will come out tax free.
• Death benefits are paid out in the form of a tax free life insurance benefit.