Sun 6 Nov, 2011 05:20 am
My friend said there's a tax deduction in long term care insurance policies, but he didnt explain how..Would like to know how it happens
@cornwatermelon,
You would take it when you file your yearly taxes, if you itemize.
@cornwatermelon,
Insurance policy provides you tax benefit when you file tax returns. You can show the insurance document as investment proof. Thus you can save your tax.
@cornwatermelon,
The premiums paid for long term investment policies are tax excepted when they exceed a certain percentage of the insured's adjusted gross income.
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