In an effort to help insurance professionals build relationships with accountants and tax professionals, the American Association for Long-Term Care Insurance has produced a comprehensive guide, aimed at accountants and CPAs, outlining the tax advantages available to long-term care insurance owners.
The guide is the latest marketing tool from AALTCI and includes current tax information for individuals, business owners and employer groups.
Accountants are a rich source of referrals because they generally have the trust of their clients and see them on a regular basis, typically around tax time. However, many accountants still do not understand the tax-advantaged status of long-term care insurance or some of the simple planning strategies that can benefit their clients, especially those who own businesses or are self-employed.
To help the roughly one million accountants, CPAs and professionals assisting individuals and business owners with tax preparation, the new brochure provides comprehensive information on tax advantages offered to Americans who own long-term care insurance.
The eight-page guide provides tax information and planning tips of special interest to insurance and financial professionals who are looking to form strategic alliances with accountants and tax professionals. The guide includes federal tax deductibility limits for 2007 and 2008 and important facts such as the break-even point for long-term care insurance or the cost of waiting to purchase insurance.
Insurance professionals must educate accountants about the benefits of long-term care insurance because no one else will. A growing number of accountants “get it,” and for sales to continue growing, they need to spread the word.
Jesse Slome is the executive director of the American Association for Long-Term Care Insurance.