“It’s 2019. Enrich the lives of your family with one additional, long-lasting gift.” says Dana Dee, who represents ACSIA Partners LLC in NY. The company is a national leader in long-term care planning.
“Americans should consider the gift of long-term care insurance. It makes sense any time, but in 2019, a decision to go for it could be particularly enticing.”
No matter who you get the policy for -- aging parents, a spouse, or yourself -- it’s a great present.“We might consider LTC insurance as our gift.” Some examples:
1. With money available to pay for your own care, your savings and property won’t be as vulnerable to unexpected care costs, avoiding the stress that spoils happiness.
2. You avoid relying on your children or other relatives to pay for your care. This knowledge alone can ease tensions and make family get-togethers more pleasant.
3. If you get a policy for aging parents, everyone benefits, not just them. They may live the rest of their lives with greater security and less fear, and you may also relax knowing you’re guarding against sudden, large care expenses down the pike.
4. You gain more control for a brighter future. For example, there may be less likelihood you or your spouse will have to leave a job to provide care personally.
5. Your children may have more reason to smile, too. With care expenses made more manageable through planning, educational plans can be made with greater certainty. It’s less likely you will ever have to choose between tuition for your kids and care for your parents or spouse.
6. LTC insurance can be a gift at tax time. A portion of the premiums may be deducted on federal income tax returns. Tax deductions or credits are available in many states. An annual gift, NY State has a 20% tax credit on LTC premiums.
Long-term care insurance is a gift that keeps on giving.
The options include traditional long-term care insurance, life insurance or annuities with long-term care riders.