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Welcome to Low & Johnson – Insurance tips – Newsletter. Tax Advantages of Long Term Care Insurance

We are working with Maryglenn Boals, CLTC, a long term care specialist to profile this important coverage for our clients.  

Long Term Care has Tax Benefits for Business Owners

    		• Certain Business Owners or Self-employed Individuals including non-profit corporations may use pre-tax dollars to purchase long term care coverage.
    		• The coverage is unique because it is tax advantaged both when purchased and when paid out.
    • To be tax qualified the policy must meet 2 criteria: 
    1.  Benefits are provided when 2 or more Activities of Daily Living are restricted or as a result of a cognitive impairment such as Alzheimer’s.
    2.  Inflation protection and non-forfeiture benefits to insure that the policy will pay for increased costs in the future and preserve some coverage if the purchaser stops paying premiums.


    MGBoals and Associates, LLC is an independent insurance agency specializing in long term care planning and related insurance products.  With over 20 years experience in health and aging services, Maryglenn Boals, CLTC, brings a depth of knowledge regarding long term care products together with personalized planning services for individuals and companies.   Maryglenn can be reached at 602-418-5069 mgboals@mgboals.com

    Please note: J. Michael Low is a former AZ Director of Insurance, and is the founding partner and an attorney with Low & Childers, PC of Phoenix, AZ. He is still practicing full time and has agreed to help Low & Johnson on certain coverage and claims issues relating to insurance. He is not issuing legal opinions or legal advice on behalf of Low & Childers. Mr. Low is a licensed property and casualty producer in the state of Arizona.

    Any questions please give me a call or e-mail. Also, we keep the insurance tips newsletter an various topical insurance issued posted on the Low & Johnson web site www.lowjohnson.com.