Jack Bendahan of LSM Insurance facilitated two (2) insurance policies that fit my financial needs and lifestyle in 2006. After signing the policies, my dealings with Jack and LSM never ended as he referred me to someone who helped me buy a house and he also gave me tips regarding insurance mortgage. He is not like a car salesman where once a deal is closed, you are basically on your own. Jack will not stop being a professional insurance/financial advisor as soon as he closed his own deal(s). He will see to it that he will be there for any assistance that you require within his expertise and reliable network. For my friends, acquaintances and work colleagues who've asked me for a financial advisor, I never hesitated in giving them Jack's contact information.
Sun Life’s Long-term Care Plan
Many Canadian insurance companies carry a Long-term Care plan, but we know how hard it can be to tell the differences between them all. That is why we have taken the liberty of breaking down three Long-term Care plans from three of Canada’s leading insurance providers.
First in this series is Sun Life Financial:
Pros
Rolling five year guarantee (guaranteed to remain the same for five years).
Zero elimination period available for facility care.
No waiting period if there’s a relapse of illness within 180 days of recovery.
Payment for the longer of 20 years or until the age of 55 is available.
Cons
The premiums are only guaranteed for the first 5 policy years.
The following is an example of pricing for a 60-year-old, female non-smoker: Weekly coverage @ $750 means the facility care monthly payment is $172.80 and the comprehensive benefit is $268,79 with a 90-day waiting period. Premiums are lower for men.
If you need more information on Sun Life’s long-term care plan, or information on Canada’s other long-term care insurance providers, visit our Long-term Care Instant Quote Page, or call us at 1-866-499-4849.
are long term care premiums tax deductible
Generally speaking no – as a rule of thumb if your insurance premium is tax-deductible the benefit is taxable. But you should check with your insurance company or a visor and get your response in writing.