When it comes to long-term care insurance, many business owners are still unaware of the significant tax-savings benefits available. “Business owners have exclusive tax benefits that individuals don’t enjoy,” explains Jesse Slome, Executive Director of the American Association for Long-Term Care Insurance, Los Angeles. “Corporations can use 100 percent tax-deductible business dollars for long-term care insurance for owners and their spouses. Owners can select who receives corporate-paid coverage and premiums can be fully pre-paid prior to when the owner’s retirement begins.”
To help agents and brokers market tax advantaged long-term care insurance to their clients who are business owners or self-employed, the American Association for Long-Term Care Insurance (AALTCI) has introduced a Marketing & Sales Tool Kit.
“The kit contains everything a producer needs to make the sale simple including a 50-minute audio interview with four leading experts who successfully focus on selling to business owners, two highly colorful countertop office displays, generic marketing material and 20 copies of the 2007 edition of the Business Owner’s Guide To Tax-Qualified Long-Term Care Protection,” Slome explains.
“The first producer who promotes and explains the tax deductibility of long-term care insurance to owners has significant sales advantages,” Slome notes. “And, average premiums for policy sales are typically larger because owners of profitable business seek to maximize the tax deductible advantages and let Uncle Sam share in the cost of their benefits.”
The LTC Marketing & Sales Tool Kit is available for $49 to Association members ($89 for non-members) and can be ordered by calling the American Association for Long-Term Care Insurance at (818) 597-3227.