Long Term Care Policies
Select Benefits
For Business Owners And Professionals
A preferred Tax - Qualified Long Term Care Insurance program
specifically designed to benefit a business, its owners, and their families.
Why Long Term Care?
-
One in five Americans over the age of 50 is at risk of needing long term care
services in the next 12 months.
-
43% of the long term care services in the U. S. are provided to people under
the age of 65
-
Home health care costs for full time, live in coverage average $50,000 annually
.
-
Average nursing home rates are $41,000 per year ...
Tax Favored Plan
Premiums paid by company are tax deductible as a business
expense.
-
Employer selects participants .
-
Can include family members .
-
Single or Ten pay plans
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Two insured spouses may receive up to a 50% discount .
-
No tax on benefits .
Tax Issues
Premiums paid by company are tax deductible as a business expense.
-
Employer deducts premiums as a business expense .
-
Employee pays no income tax on employer contributions .
-
Employee receives benefits free of income tax equal to actual benefits or $190
per day .
-
May help avoid retained earnings problems .
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"C" Corporations expense is 100% deductible .
-
"S", Self Employed, Sole Prop Partners 70% deductible in 2002 and 100%
deductible in 2003.
What does it cost for me And my wife?
For Lifetime Benefits
| @ $100 per day? |
|
@ $130 per day + 5% Increase |
| Names |
Ages |
Single Pay |
10 Pay |
| John & Mary |
40/40 |
$31,509 |
$3,939
|
| John & Mary |
45/43 |
$33,982 |
$4,248
|
| John & Mary |
50/48 |
$33,560.97 |
$4,195
|
| John & Mary |
55/53 |
$35,606.32 |
$4,451
|
| John & Mary |
60/58 |
$39,437.97 |
$4,930
|
| John & Mary |
65/63 |
$73,762.36 |
$9,220
|
| John & Mary |
70/68 |
$100,338.33 |
$12,542
|
| John & Mary |
75/73 |
$123,671.24 |
$15,459
|
| John & Mary |
80/78 |
$245,448.41 |
$30,681
|
| Plan is $100 per day for nursing home or home health
care, increasing by $5.00 per day for each year ... 90 day elimination period
....
|
|
|
| Names |
Ages |
Single Pay |
10 Pay |
| John & Mary |
40/40 |
$47,583 |
$8,755
|
| John & Mary |
45/43 |
$43,866 |
$5,483
|
| John & Mary |
50/47 |
$42,217.72 |
$5,284
|
| John & Mary |
55/52 |
$54,431.77 |
$6,804
|
| John & Mary |
60/57 |
$58,105.29 |
$7,263
|
| John & Mary |
65/62 |
$98,131.03 |
$12,266
|
| John & Mary |
70/67 |
$136,286.32 |
$17,036
|
| John & Mary |
75/72 |
$171,193.07 |
$21,399
|
| John & Mary |
80/77 |
$286,581.30 |
$35,823
|
| Plan is $130 per day for nursing home or home health
care, 5% compound benefit increase each year ... 90 day elimination period ...
indemnity benefit
|
|
Submit the form below for
information about planning for your Long Term Care with the most advantageous
Tax considerations.
|
OR
You may contact us via phone, fax, mail, or On-line Form:
Taxstrategy.com
111 Aleta Drive
Belleair Beach, FL 33786
(727) 538-7762 . (800) 433-9667
FAX (800) 967-5109
|