Long Term Care Tax Break
There are some tax implications when it comes to purchasing an long term care policy. Two types of policies are available: tax qualified and non-qualified. The primary difference between the two is whether or not the benefits will be considered income and be taxed.
There are also ramifications regarding how each defines disabled and when benefits would begin. Non-qualified tax plans are becoming rarer and most financial planning advisers recommend a qualified plan.
Here is more information on tax qualified plans and some recommendations for each.
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