E-News – June 2022

AFFORDABLE LONG-TERM CARE ("LTC")  INSURANCE –  available to age 85

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NEWSFLASH – THE PENDING LONG-TERM CARE INSURANCE TAX MAY IMPACT YOU

Multiple states, including California, are considering following Washington State's lead in taxing those who do not own a Long-Term Care Insurance policy.

NEED FOR LTC INSURANCE

The primary need for Long Term Care Insurance is the expense for Dementia/Alzheimers, as the impairment can last from eight to twenty 20 years. The average cost of a private room in a San Francisco Skilled Nursing Facility is $15,000 a month. Premiums escalate with age and decline in health. Medicare and Private Medical Insurance provide minimal benefits. Forty percent (40%) of those receiving care are aged 18 to 64 due to car accidents, illness, injury, and disability.

POLICY DESIGN

A policy that pays for lifetime benefits for two insureds. A policy that pays a death benefit exceeding the premium paid if LTC is never needed. A policy that guarantees cash values and a gain. A policy that provides loans against the cash surrender value at a 4% net cost.

COVERAGE

Adult Day Care, Assisted Living Facility, Home Health Care, Hospice Care, Respite Care, International coverage.

FUNDING LONG-TERM CARE PREMIUMS – HIGH NET WORTH INDIVIDUALS

There is no need to self-insure because of leveraging lifetime benefits and the guaranteed return of premiums. Health Savings Account, Annuities NQ, IRA's, Life Insurance, C CORP (best)

Please contact us for further information or a quote.

Kind regards,

Withbert W. Payne, CPA, CGMA, Chartered Accountant (England & Wales)

Insurance Review Services

3150 Crow Canyon Place, Suite 100

San Ramon, CA 94583

Phone:  (925) 708-6501

Fax:      (925) 407-8270

Email:                withbert.payne@insurance-review-services.com

Website:           https://www.insurance-review-services.com

Website LTC:     https://www.LTCCPAS.com

LinkedIn:          https://www.linkedin.com/in/withbertpayne/

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Insurance Review Services specializes in optimizing insurance portfolios consisting of - Life Ins. - Disability Ins.- Long Term Care Ins. –  Business Ins.  - Trust-owned Life Insurance for Estate Planning.