The overlooked business benefit: LTC planning for pass-through owners and key employees
Long-term care planning is often one of the most overlooked areas of business and retirement planning, despite its growing financial and personal impact on business owners, employees, and their families.
Please keep in mind that the primary reason to purchase a life insurance product is the death benefit. Life insurance products contain charges, such as Cost of Insurance Charge, Cash Extra Charge, and Additional Agreements Charge (which we refer to as mortality charges), and Premium Charge, Monthly Policy Charge, Policy Issue Charge, Transaction Charge, Index Segment Charge, and Surrender Charge (which we refer to as expense charges). These charges may increase over time, and these policies may contain restrictions, such as surrender periods. Policyholders could lose money in these products.
This information should not be considered as tax or legal advice. Clients should consult their tax or legal advisor regarding their own tax or legal situation.