LTC tax questions await guidance from the IRS and Treasury

Tax questions about long-term care insurance seem to be developing almost as briskly as LTC products themselves. The insurance industry and individual insurers have requested guidance from the Internal Revenue Service and Treasury Department on these issues. In the absence of guidance, companies hav...

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Bibliographic Details
Published in:National Underwriter 2001-09, Vol.105 (36), p.18
Main Authors: Springfield, Craig, Spina, John
Format: Article
Language:English
Subjects:
Accelerated death benefits
Estate planning
Executive compensation
Insurance industry
Life insurance
Long term care insurance
Retirement plans
Self employment
Tax regulations
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Summary:Tax questions about long-term care insurance seem to be developing almost as briskly as LTC products themselves. The insurance industry and individual insurers have requested guidance from the Internal Revenue Service and Treasury Department on these issues. In the absence of guidance, companies have adopted a variety of approaches. Given the various reasonable interpretations of existing law, these issues have not been a serious impediment to development of the LTC rider market. Areas of LTC uncertainty are discussed.
ISSN:1940-1345