Foot Specialist

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👉What Happens to Unused Long-Term Care Insurance? There are options and plans to help with your new long-term care insurance!👈

What Happens to Unused Long-Term Care Insurance?

Many long-term care insurance buyers die before making any claims under the policy. If they purchased traditional long-term care insurance coverage, they have paid their premiums without any financial benefit.

There are other options to help you get more out of your policy.

For example, policies with shared spousal benefits will allow a surviving spouse to use any new benefits.

Return of premium policies offer another option to get benefits from new long-term care insurance policies, but they are significantly more expensive.

Get Home Care Assistance in Michigan with Assisting Hands Home Care:
https://michiganpersonalcare.com/

👉– Shoes –👈
Our Recommended Shoes:
https://www.michiganfootdoctors.com/podiatrist-recommended-shoes/

Our Recommended Products: https://www.michiganfootdoctors.com/recommended-products/

📢See a Physician!📢
See a Physician if you have a health issue. This information is NOT specific to your medical problem.

If in Michigan, consider seeing us:
https://michiganpersonalcare.com/

Directions:
https://g.page/r/Ca4Dg-JS_3XPEAE

👉– LINKS –👈
(With some links, we use affiliate links and may earn a commission. Check with your doctor before using any product!)

📢Disclaimer:📢 This video and description contain affiliate links, which means we may receive a commission if you click on one of the product links. Thank you for your support of this channel!

This is opinion only:
Do not consider this video a substitute for professional medical advice, diagnosis, or treatment for the viewer or reader. We strongly urge you to contact your physician with any questions regarding your medical condition. If you have an emergency, call 911 immediately or see your physician. Do not allow this information to let you disregard your professional’s medical advice or delay seeking information from this content. Do not rely on information provided by this general education video.

Healthcare practitioners: The content here is for education purposes only. The authors have done their best to provide the most up-to-date, evidence-based information, but this content should definitely not be considered any type of medical standard. It does not reflect individual practices in other geographic areas.

This is strictly for medical education purposes only, and it is not intended for diagnosis or treatment. The information in these videos is the author’s opinion and is not an official opinion of any organizations that the authors may be a part of. The authors or speakers are not associated with any of the above products.

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what disqualifies from long term care insurance

👉What Disqualifies From Long-Term Care Insurance? There are requirements and disqualifications 👈

Can Anyone Get Long-Term Care Insurance?
Not everyone can get long-term care insurance, and certain prerequisites are required.
To qualify for coverage, you must meet certain requirements, such as legal requirements. Most insurance companies require you to be 18 years old and a U.S. citizen or legal resident.
You must also be in good health and have no pre-existing medical conditions.

Different insurance companies have different disqualifications.
Different companies have different disqualifications.

Long-Term Care Insurance Disqualifications

A major health condition: If you have a major health condition, such as cancer, heart disease, or Alzheimer’s disease, you will likely be disqualified from long-term care insurance.

A history of substance abuse: If you have a history of substance abuse, you will not be eligible for coverage. This includes abuse of alcohol, drugs, and prescription medications.

A criminal record: If you have a criminal record, you may be disqualified from long-term care insurance. This is especially true if you have been convicted of a felony.

Elderly age: If you are considered elderly (usually over 85), you may not be eligible for long-term care insurance.

Who Qualifies For Long-Term Care Insurance?
Most people over 65 and with a significant health condition will generally qualify. However, each insurance company has its specific criteria that they use to determine eligibility.

For example, some companies may require that you have a certain amount of assets or income to qualify. Others may only consider your health history when making a decision.

Ultimately, it is up to the insurance company to decide who qualifies for long-term care insurance. If you think you might need this type of coverage, be sure to research the requirements of different insurance providers to find one that best meets your needs.

Get Home Care Assistance in Michigan with Assisting Hands Home Care:
https://michiganpersonalcare.com/

📢See a Physician!📢
See a Physician if you have a health issue. This information is NOT specific to your medical problem.

If in Michigan, consider seeing us:
https://michiganpersonalcare.com/

Directions:
https://g.page/r/Ca4Dg-JS_3XPEAE

👉– LINKS –👈
(With some links, we use affiliate links and may earn a commission. Check with your doctor before using any product!)

📢Disclaimer:📢 This video and description contain affiliate links, which means we may receive a commission if you click on one of the product links. Thank you for your support of this channel!

This is opinion only:
Do not consider this video as a substitute for professional medical advice, diagnosis, or treatment for the viewer or reader. We strongly urge you to contact your own physician with any questions regarding your medical condition. If you have an emergency, call 911 immediately or see your physician. Do not allow this information to let you disregard your professional’s medical advice or delay seeking information from this content. Do not rely on information provided by this general education video.

Healthcare practitioners: The content here is for education purposes only. The authors have done their best to provide the most up-to-date evidence-based information, but this content should definitely not be considered any type of medical standard. It does not reflect individual practices in other geographic areas.

This is strictly for medical education purposes only, and it is not intended for diagnosis or treatment. The information in these videos is the author’s opinion and is not an official opinion of any organizations that the authors may be a part of. The authors or speakers are not associated with any of the above products.

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👉Is Long Term Care Insurance Tax Deductible? We review if it is financial tax deductible?👈

👉What is a tax-qualified long-term care policy?
Most long-term care policies are tax-qualified (Always check with your insurance specialist for specifics like Dan Tripp).

-term care insurance policies come with tax-free benefits and deductible premiums. This means that insureds are generally not taxed on the benefits they receive from these policies.

Also, the premiums can be deductible as unreimbursed medical expenses if the insured meets the adjusted gross income (AGI) threshold.

Your insurer can tell you whether your long-term care policy is tax-qualified or not.

The rules for deductibility and tax-free benefits can differ at the state level. Check with your tax adviser to confirm the rules for your state.

👉Is tax insurance policies tax deductible?

Long-term care insurance premiums can be costly.
The IRS allows qualified taxpayers to deduct a portion of their long-term care insurance premiums on their tax returns based on their age.

Generally, you must itemize deductions and have expenses that exceed the AGI threshold to qualify.

There is an exception for qualified self-employed individuals.

Consult your financial advisor to learn more about your long-term care insurance policy and how you can deduct it from your tax return.

Get Home Care Assistance in Michigan with Assisting Hands Home Care:
https://michiganpersonalcare.com/

👉– Shoes –👈
Our Recommended Shoes:
https://www.michiganfootdoctors.com/podiatrist-recommended-shoes/

Our Recommended Products: https://www.michiganfootdoctors.com/recommended-products/

📢See a Physician!📢
See a Physician if you have a health issue. This information is NOT specific to your medical problem.

If in Michigan, consider seeing us:
https://michiganpersonalcare.com/

Directions:
https://g.page/r/Ca4Dg-JS_3XPEAE

👉– LINKS –👈
(With some links, we use affiliate links and may earn a commission. Check with your doctor before using any product!)

📢Disclaimer:📢 This video and description contain affiliate links, which means we may receive a commission if you click on one of the product links. Thank you for your support of this channel!

This is opinion only:
Do not consider this video a substitute for professional medical advice, diagnosis, or treatment for the viewer or reader. We strongly urge you to contact your physician with any questions regarding your medical condition. If you have an emergency, call 911 immediately or see your physician. Do not allow this information to let you disregard your professional’s medical advice or delay seeking information from this content. Do not rely on information provided by this general education video.

Healthcare practitioners: The content here is for education purposes only. The authors have done their best to provide the most up-to-date, evidence-based information, but this content should definitely not be considered any type of medical standard. It does not reflect individual practices in other geographic areas.

This is strictly for medical education purposes only, and it is not intended for diagnosis or treatment. The information in these videos is the author’s opinion and is not an official opinion of any organizations that the authors may be a part of. The authors or speakers are not associated with any of the above products.