Long-term care insurance is protection against the astronomical expenses associated with needing care for an extended period of time. More and more people find themselves as caregivers to family members resulting in lost earnings for both the individual and his/her employer. Furthermore, many people have witnessed their hard-earned retirement funds being depleted by the cost of care for themselves or their spouses.

Corporate long-term care insurance can alleviate this potential hardship. Current legislation allows for the most flexible framework of any employee benefit available. Specifically:

● Premiums paid on behalf of owners and employees are tax-deductible.

● Premiums paid are not countable as income.

● Benefits are received income-tax free.

● Premium discounts and underwriting concessions are available and can be extended to all family members of owners / employees.

● Policies are fully portable – any discounts will be retained.

● Policies are non-cancelable – polices can only be cancelled for non-payment of premium.