Long term care insurance not only helps the bottom line. For executives and all employees, it's an increasingly essential firewall against looming economic disaster. It protects assets and retirement savings plans as nothing else can.

You can pay good salaries and create excellent retirement benefits, but these can all disappear in a flash, along with the employee's life savings, when a care crisis happens. This is as true of owners and senior managers as it is of rank-and-file employees. With a long term care policy in place, however, all is well. Everyone is shielded because the insurance pays the bills.

There are many other pluses to LTC insurance beyond its core value as a firewall:

> Benefits received are tax free with qualified plans. No matter how big or long-lasting the beneficiary payments, taxes can’t eat into them.

> Employee coverage is portable. Insured employees can take the benefits with them and need only make any subsequent premium payments.

> Special company-paid plans can be provided just to key executives or selected staff. It’s a great incentive benefit allowed by Federal tax laws. Plus the recipients don’t need to report premiums as taxable income.

> Premiums are 100 percent deductible in sole proprietorships, partnerships, S-Corps, or LLCs. (Owners may be subject to limitations.) They’re also 100 percent deductible as an ordinary cost-of-business expense by C-corporations providing paid coverage to shareholders, employees, spouses and dependents. Benefits received are tax free as well.

> The cost of premiums can be refunded to heirs. Riders may be available whereby all the money paid out in premiums can be refunded to an insured’s estate or a pre-designated beneficiary, minus any benefits paid by the plan. (If no care was required, every penny paid in would be returned—a real and valuable asset to pass on to others.) What a great added bonus for an employee and families.

And there are all kinds of other similarly beneficial options, depending on how
your plan is designed.

Get all the facts in the 8-page guide, "Long Term Care Insurance at the Worksite."