When people think of long-term care insurance, a favorable tax deduction is the last they think of.
Why? Well, traditional long-term care insurance has had a bad rap these days. It seems like everyone knows premiums have increased through the roof. (FYI – they have stabilized, though.)
Moreover, people don’t like the “use-it-or-lose-it” stigma associated with traditional long-term care insurance. We understand. As we have discussed, however, you will probably need some type of long-term care in your future.
Did you know that traditional long-term care insurance offers a really nice tax deduction as well as other awesome tax benefits?
Continue reading Long-Term Care Insurance Tax Deduction | How It Helps & Other Tax Advantages
There’s not a lot of time for mechanics to think about disability insurance, right?
It is a fact: You will probably need some form of long-term care (LTC) (that is, custodial care) in the future. The Centers for Medicare and Medicaid estimate that 7 out of 10 people age 65 will need some type of long-term care (i.e., home health care, assisted living, or nursing home care.) If you are 50 or older (or a tad younger), you probably know of people who are dealing with the burden of caregiving for their parents or loved ones in LTC situations. We know caregiving can be one of the most excruciating situations in a person’s life. Maybe you are dealing with it yourself? Have you been thinking about your own long-term care yourself? What will happen if you need long-term care?
Do you want to save money on your Medicare Part D cost? Who doesn’t, right?
Real estate agents and realtors usually aren’t thinking about disability insurance, right?