Long Term Care Insurance
You have heard of long-term life insurance before, but do you really know what it is?
How does it work?
Buying a long-term life insurance policy is purchasing the ability to receive benefit dollars to pay for qualified long-term costs. Policies can vary depending on companies.
When should I buy a policy?
Anytime is a good time to consider buying a long-term policy. It really depends on your financial situation. You can purchase a policy as early as 18 years old. It is recommended to purchase before the need for long-term care arises.
Are they expensive?
They can be, but the price will depend on your region.
Are there tax advantages?
Federal and state tax levels may provide incentives for individuals and businesses who purchase qualified long-term care insurance policies. Federal tax deductions are sometimes available for individual, non-business owners who itemize medical expenses.
How do I choose the right plan?
One way to help make sure you are getting the right plan for you is to seek assistance from a financial advisor.
If you are interested in finding out more about Long-Term Care Life Insurance Policies, Prosperity Financial Group can help. Give us a call or email me at firstname.lastname@example.org.