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/
LICENSES: CA 0E90257 – AZ 8576357 – CO 527522 – FL W754626 – MA 2128679 – NJ 1174660 – NV 592383 – OR 8576357 – TN 1009592 – TX 1862122 – UT 848127 – WA 982724
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.