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12 Crucial Proven Strategies: Tax Planning
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Tax Planning & LTC Insurance — Perfect Together


A Great Time to Discuss LTC Insurance

When meeting with clients to discuss the benefit that a Long Term Care (LTC) Insurance policy can bring to their overall financial plan, tax deductions might not be the first thing you emphasize. Paying LTC Insurance premiums does provide tax advantages. Take the time to detail the opportunity- this may be the tipping point for clients who are hesitant about purchasing a policy.

Rely on our expert team to help you discuss the benefits of LTC with your clients. Contact us today to get started.


Four Approaches to Selling LTC:


1. On The Fence

Many states offer a deduction or credit on paid LTC Insurance premiums, which can make purchasing coverage more attractive to your clients.
 
For example, in the state of Ohio, residents are able to deduct the entire annual premium for their LTCI policies on their tax returns.

3. Business Owner

When a C-Corporation purchases a policy on behalf of its employees, and their spouses or dependents, the corporation is entitled to take 100% deduction as a business expense on the total premiums paid. 
 
If self-employed, clients can deduct 100% of their out-of-pocket LTC premiums up to the age-based Eligible Premium amounts.

2. The Planner

If you are working with clients on their tax strategy, consider turning their tax refund into an LTC Insurance premium payment. 
 
It’s a great way to plan for the cost of the insurance and can make annual premium payments a non-event.

4. Current Policyholders

Clients who already have an LTC Insurance policy may not know about the tax deductions available to them. During your annual review, be sure to educate them about an opportunity to take a tax deduction.

Tax Season


Tax season  is a golden opportunity to touch base with your clients! 

Learn more about the CPS LTC 12 Crucial Proven Strategies campaign.


We Are On Your Team


Our team is available to discuss the benefits of having an LTC policy for your client's overall tax plan. Contact us today.

Terese Chanel

Terese Chanel
LTC Sales & Marketing Manager
1.800.326.5433 x159
tchanel@cpsinsurance.com

Matthew Anderson

Matthew Anderson
Internal Sales Representative
1.800.326.5433 x142
manderson@cpsinsurance.com
CPS Insurance Services

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