The Economy and Long Term Care PlanningJuly 7, 2017
Long Term Care Plans…the time is right!July 7, 2017
Next item of interest is that inflation options on traditional LTC plans have increased in variety. Most companies offer 5% simple and 5% compound inflation options. Now we can offer 3%, 5% compound capped at 20 years, and most recently; CPI compound. John Hancock’s CPI compound inflation rider provides annual increases in benefits based on the Consumer Price Index (CPI). Therefore if we ever see double digit inflation…the client is covered and the benefit is increased by the CPI increase. This flexible option is less expensive than the traditional fixed 5% compound option and ensures true value regardless of inflation.
Finally, updated group products have entered the market and they have easier qualifications and underwriting concessions as well as significant discounts. Business owners can discriminate and are not required to offer this company benefit to all employees. The tax benefits can be substantial and LTC is finally being valued as a true employee benefit.
Schneider & Shulman Associates is determined to have the most creative Long Term Care plans available to you. We represent all of the major carriers and can tailor a plan that provides the retirement protection you need for you and your family at a cost you can live with.
Call us toll free at 1 877 843-9582 or 516 870-0800 for a FREE consultation.
Or visit us on the web at SSLTC.com