LONG-TERM CARE INSURANCE
CONSIDERATIONS

If the daily tab for all private rooms in a nursing home now averages $192.00, up 6.1% from a year ago, that means a Nursing Home stay of 2.4 years – the average length of care, according to government estimates – currently would be about $168,000.

46 Years Experience U.S. Licensed Agent/Broker

If your are thinking about buying long-term care insurance, there are some tax-breaks available.  If you and your spouse now own, or are thinking of starting your own small business, as many are considering in their 50’s and 60’s, the BUSINESS can purchase your long-term care insurance for either or both of you – and deduct the premiums, up to a dollar amount set up by the Internal Revenue Service.  Effective 1/1/2005 the limit your business can deduct is $1,020 per policy if you are between the age of 51 thru 60; $2,720 if you are 61 to 70, or $3,400 a year if you are 71 or older.

This is almost like an additional retirement plan.

                                               F. Darrell Lindsey
                                               Financial Planner
                                               U.S. Licensed Agent/Broker                                           

 Note:  See Long-Term Care Insurance as an option.