|Where should we start? We have so many
Why do I need long-term care insurance
- Peace of Mind
- To help protect the income and assets you worked so hard to accumulate
- To help protect your retirement plan
- To help protect your loved ones
Shouldn't I wait until I retire when I
- No - The average age of our clients has dropped from 69 in 1993 to 53
- No - Personal health issues could occur prior to 65 that might deny you
- No - Premiums are age based; it is always more expensive to delay applying
Isn't this just nursing home insurance?
- No - Long-term care insurance services can take place in your own home,
adult day care, assisted living apartments, Alzheimer's facilities, and
nursing homes. Most long-term care is provided in your home or in an assisted
When is the best age to get long-term
- The best age is the age you are now. Health is critical, and underwriting
has become more restrictive for potential clients. This trend will only
continue in the future.
- The premium and coverage selected should be affordable. Since premium
cost is age-rated, younger is better than older (2009 NAIC Shopper's Guide, page 21).
Why should I use my investment dollars
to get this insurance?
- There is no guarantee that investing will generate
the amount of money that a policy with 5% compounding written into it will
- The monetary benefit received from a tax-qualified long-term care insurance
policy is tax free. Cashing in investments to cover a long-term care expense
carries with it a tax liability.
What if I never use my long-term care
- Several companies have available a Return of Premium rider (additional cost) that gives
a surviving spouse or the estate the return of all premiums paid, minus
claims, if the policy has been in force at least 10 years.
Can I write this off through my business?
- Yes - Depending how your business is organized, you can write off as a
pre-tax deduction all or a significant part of your premium.
- Long-term care insurance can be discriminatory; an executive carve out
can be incorporated as a benefit and a tax deduction.
Dunn Insurance Services LLC
602-923-4949 or, toll-free: 1-866-380-2169
© 2003-2014 Dunn Insurance
Services LLC - All rights reserved.