Your firm can help its partners and other key employees who are MSBA members protect their lifestyles and retirement portfolios with Executive Carve–Out Long Term Care Insurance. Not only does it offer your firm an innovative tool for rewarding and retaining top attorneys as well as provide tax advantages, it also gives a valuable and meaningful benefit to your top employees.
An LTC Executive Carve-Out brings customized long-term care insurance to your partners or other key employees and provides tax advantages to your firm.
By establishing predetermined criteria for these benefits, you are able to legally segment a class of employees eligible to have long-term care insurance premiums paid by the firm.
Benefits for partners/key employees
Benefits for Firms/Employers
Answers about the plan, including eligibility, options, enrollment, customer service and more.
In addition to receiving a 100% tax deduction on premiums paid for employees and their spouses, an LTC Executive Carve-Out offers your firm the flexibility to reward top partners/key employees.
Research shows that most people are not prepared to cover the rising costs of long term care—or manage the complex details associated with long-term care. In fact, while 6 in 10 Americans are worried about this growing risk; 75 percent have made no plans to address it. 1
Your top partners or other key employees have savings, assets and other wealth that will need protection from potential long term care costs. The LTC Executive Carve-Out helps preserve their retirement plan and other assets, while offering portable coverage and favorable tax treatment.
1Genworth Financial, “Yearly Long Term Care Costs Increase 15% Since 2004 to Nearly $75,000 in 2007 According to Annual Study by Genworth Financial,” (April 3, 2007), http://phx.corporate-ir-net/phoenix.zhtml.
For more information regarding Long Term Care options for your firm, contact:
Senior Vice President
333 S. 7th Street
Minneapolis, MN 55402
If you are looking for more information about individual Long Term Care Insurance, please call 1-800-501-5776.
For more information regarding Long Term Care
options for your firm, contact: