Benefits for Success -- Long-Term Care Insurance

Long-Term Care Insurance

The Benefits of Long Term Care

Life is precious, but uncertain. We can look back into the past; we can fully live for today; but we cannot foresee what will happen next year… next week…or even tomorrow. Like car insurance, home insurance and health insurance, Long Term Care insurance is an important consideration. We hope you never need this coverage, but like other insurance, it is important to have “just in case.” Here’s how you may benefit:

So you can remain independent.

So you do not become a burden to your family.

So you can preserve your assets for retirement or for distribution to your heirs.

So you can stay off welfare.

Facts about Long Term Care

Four out of 10 people age 65 will spend time in a nursing home during their lifetime.
Today, an average stay in a nursing home costs approximately $175,000 and 20 years from now it is projected to be $465,000.
Medicare will pay for only a limited stay in a nursing home, if at all.
Today’s plans provide for care in ones home, an assisted living facility and in a nursing home.

Tax Benefits May also be Available to You…

If you itemize deductions.
Because self-employed or corporate tax deductions are available, just like the health insurance deduction.
Because closely held businesses (C-Corporations) can provide qualified LTC policies to their owners and key employees with or without including the other employees and
- You get a corporate deduction, and
- the premium is excluded from an employee’s taxable income, and
- an employee’s potential LTC claims benefits are tax-free, and
- you can include spouses and dependents if desired.

For more information concerning the costs, specific benefits and other details of Long Term Care insurance coverage, please contact Dave Lysne or Don Haga.

David Lysne
Telephone: 701-232-3833 Fax: 701-232-0939

Don Haga
Telephone: 701-232-3833 Fax: 701-232-0939