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  #1 (permalink)  
Old 01-24-2010, 11:36 PM
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Join Date: Jan 2010
Posts: 7
Default What are the benefits of Long Term Care Insurance?
Could anyone please explain the benefits of Long Term Care Health Insurance?
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  #2 (permalink)  
Old 01-25-2010, 10:34 AM
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Location: United States
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LTC isn't a product that can be easily explained in a forum. So here's a site where you can get some great information. Long Term Care Insurance - Long Term Care Companies Quotes Information Center From LTC Industry Trade Association
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Old 01-25-2010, 07:20 PM
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Location: United States
Posts: 1,105
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Revacyrus something to consiuder is I don't think anyone is going to giuve you a hard answer on your questions. Your best bet is to contact a agent who is licensed in your state. LTC isn't a simple product to just give out general information. If someone says you don't need it and in the future a LTC issue comes up there might be liability issues. So find an independent agent licensed in your state who offers LTC and get your questions answered.
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Old 01-26-2010, 11:20 PM
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An individual may be able to deduct part of the premiums for a long term care insurance policy and benefits paid out will generally not be taxable as income. List on Form 8853. Benefits paid to you under a non tax-qualified long term care plan may be considered taxable income. Buying a non tax-qualified plan could increase your tax liability and reduce the value of the benefits.

Compare Long Term Care Insurance Rate Quotes
  #5 (permalink)  
Old 01-27-2010, 10:30 PM
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Thanks to both pf you for replying to my post.
 
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