Long Term Care Insurance ProsDane Petchul - Long-Term care Insurance Specialist

Dane A. Petchul

CLTC , LTCP

 

 

 

Nothing is more preventable than the swift and total financial devastation that comes from a long term care
stay.

Suze Orman

"In You've Earned It,
Don't Lose It."

 

 

LongTermCareInsurance Pros was able to insure me and my wife after previously being declined. We are so thankful that he is such an advocate for every individual and thoroughly knows all the carriers and plans available.

Toni & Mel H.

 

 

 

quote The first step is to consider the purchase of long-term care insurance...Since these polices come with "concierge" services to find appropriate caregivers, this is a must-do for women who are alone...The time to buy is in your late 50s or early 60s, when costs are lower and you're healthy enough to qualify. quote

Terry Savage Author, “The Savage Number” Nationally syndicated financial columnist
March, 2008

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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2009 Tax Deductions for Long-Term Care Insurance


 

The Internal Revenue Service has announced the maximum tax deduction that can be taken on qualified LTCi premiums in 2009.


Maximum Deduction for Qualified LTCi Premiums Under Code 213(d)(10)


Attained Age Before Close of Year 2009:

 

  • 40 or less - $320
  • More than 40 but no more than 50 - $600
  • More than 50 but no more than 60 - $1,190
  • More than 60 but no more than 70 - $3,180
  • More than 70 - $3,980

 

Of course, these deductions are not available to everyone who owns Long-Term Care insurance. Those who are self-employed, owners of an LLC, or incorporated, will be able to get the most benefit from this schedule. I would happy to explain who benefits most from these deductions for anyone who inquires.

 

As in all tax matters it is best to consult your tax professional for clear advice on how much Long-Term Care insurance premiums can be deducted in your individual situation though.

 

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