CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

All New and Current customers who purchase the Premium, Plus, or Core (Total Value Package) 2021 Federal Tax Update or the 2021 Federal and California Update will get the Tax Advisory Complement Bundle for free.

NOTE:

  • New Federal Tax Update customers will get an immediate email with a coupon code for the free course once their Tax Update purchase is complete.
  • Current Customers that purchased the Premium, Plus, or Core (Total Value Package) 2021 Federal Tax Update will get an email with a coupon code to get the Tax Advisory Complement Bundle for free.

Long-Term Care Fundamentals

Icon_Self-Study
Self-Study
Icon_Level
Basic
Credits
CPE Credits
5 Credits: Taxes

Course Description

The risk of needing long-term care – a designation given to a broad range of services designed to meet an individual’s mental, emotional, physical, and personal needs – is present at all ages. However, as individuals become older, the risk increases significantly.

The U.S. population is expected to increase by about 27% by the year 2050. In contrast, the part of the U.S. population most at risk for needing long-term care – the segment comprised of individuals 85 years or older – is expected to grow by 280% during this same period. This segment of the population is growing disproportionately, while simultaneously, the already substantial costs of long-term care are rising at a rate exceeding the inflation rate.

These issues present significant and burdensome financial concerns for many clients and their heirs. This course examines the nature, risks, and associated costs of long-term care, as well as the forms in which it may be delivered; the sources available to help pay for it; and the features of long-term care insurance.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Define long-term care;
  • Describe the normal activities of daily living;
  • Identify the settings in which long-term care may be provided;
  • Recognize the risk of needing long-term care and the factors that may affect the risk; and
  • Describe the social factors affecting the need for long-term care.

Chapter 2

  • Identify the national average cost of obtaining long-term care in a nursing home;
  • Recognize the average U.S. cost of residing in an assisted living facility;
  • Identify the average costs normally associated with community-based long-term care;
  • Describe the U.S. population trends expected to affect the future cost and availability of long-term care; and
  • Recognize the various sources of long-term care funding in the United States.

Chapter 3

  • Compare the indemnity and reimbursement approaches to providing long-term care insurance benefits;
  • Identify the qualified and nonqualified long-term care insurance policy benefit triggers;
  • Recognize the basic provisions contained in a long-term care insurance policy;
  • Describe the tax treatment to which long-term care insurance premiums and benefits are subject; and
  • Identify the alternatives for paying the costs of long-term care services.

Chapter 4

  • Identify the factors that affect the suitability of long-term care insurance for an individual client;
  • Recognize the client disclosures that should be made in any ethical long-term care insurance recommendation; and
  • Describe the special suitability and disclosure requirements applicable to the replacement of a long-term care insurance policy.

Course Specifics

Course ID
8162546
Revision Date
February 23, 2021
Prerequisites

There are no prerequisites.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01692-20-S
IRS Federal Tax Law Credits: 5
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-0915
CTEC Federal Tax Law Credits: 5

Course Instructor

Paul J. Winn Headshot
Paul J. Winn CLU ChFC

Paul Winn CLU ChFC is a writer with more than 30 years experience in the life insurance and securities industry as an agent/registered representative, an agency head, a marketing vice president for a life insurance company and the president of a corporate registered investment adviser. He was a long serving member of the advisory board to the New York State insurance department. He is a published book author and creator of more than 200 taxation, insurance and securities training courses.

Long-Term Care Fundamentals

Expert Instructors
Format
CPE CREDITS
5 Credits: Taxes

$145.00$175.00

Clear
Icon_Self-Study
Self-Study
Icon_Level
Basic
Credits
CPE Credits
5 Credits: Taxes

Course Description

The risk of needing long-term care – a designation given to a broad range of services designed to meet an individual’s mental, emotional, physical, and personal needs – is present at all ages. However, as individuals become older, the risk increases significantly.

The U.S. population is expected to increase by about 27% by the year 2050. In contrast, the part of the U.S. population most at risk for needing long-term care – the segment comprised of individuals 85 years or older – is expected to grow by 280% during this same period. This segment of the population is growing disproportionately, while simultaneously, the already substantial costs of long-term care are rising at a rate exceeding the inflation rate.

These issues present significant and burdensome financial concerns for many clients and their heirs. This course examines the nature, risks, and associated costs of long-term care, as well as the forms in which it may be delivered; the sources available to help pay for it; and the features of long-term care insurance.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Define long-term care;
  • Describe the normal activities of daily living;
  • Identify the settings in which long-term care may be provided;
  • Recognize the risk of needing long-term care and the factors that may affect the risk; and
  • Describe the social factors affecting the need for long-term care.

Chapter 2

  • Identify the national average cost of obtaining long-term care in a nursing home;
  • Recognize the average U.S. cost of residing in an assisted living facility;
  • Identify the average costs normally associated with community-based long-term care;
  • Describe the U.S. population trends expected to affect the future cost and availability of long-term care; and
  • Recognize the various sources of long-term care funding in the United States.

Chapter 3

  • Compare the indemnity and reimbursement approaches to providing long-term care insurance benefits;
  • Identify the qualified and nonqualified long-term care insurance policy benefit triggers;
  • Recognize the basic provisions contained in a long-term care insurance policy;
  • Describe the tax treatment to which long-term care insurance premiums and benefits are subject; and
  • Identify the alternatives for paying the costs of long-term care services.

Chapter 4

  • Identify the factors that affect the suitability of long-term care insurance for an individual client;
  • Recognize the client disclosures that should be made in any ethical long-term care insurance recommendation; and
  • Describe the special suitability and disclosure requirements applicable to the replacement of a long-term care insurance policy.

Course Specifics

Course ID
8162546
Revision Date
February 23, 2021
Prerequisites

There are no prerequisites.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01692-20-S
IRS Federal Tax Law Credits: 5
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-0915
CTEC Federal Tax Law Credits: 5

Course Instructor

Paul J. Winn Headshot
Paul J. Winn CLU ChFC

Paul Winn CLU ChFC is a writer with more than 30 years experience in the life insurance and securities industry as an agent/registered representative, an agency head, a marketing vice president for a life insurance company and the president of a corporate registered investment adviser. He was a long serving member of the advisory board to the New York State insurance department. He is a published book author and creator of more than 200 taxation, insurance and securities training courses.

Long-Term Care Fundamentals

Expert Instructors
Format
CPE CREDITS
5 Credits: Taxes

$145.00$175.00

Clear