tax advantages - GoldenCare Agents

Ethisphere Names Thrivent One of the World’s Most Ethical Companies for 13 Consecutive Years

March 18, 2024 | by V | Comments Off

Ethisphere Names Thrivent One of the World’s Most Ethical Companies for 13 Consecutive Years The recognition highlights Thrivent’s commitment to business integrity through robust ethics, compliance, and governance programs March 4, 2024 MINNEAPOLIS – Thrivent, a Fortune 500 financial services organization, has received the 2024 World’s Most Ethical Companies honor from Ethisphere, a global leader in defining and advancing the standards of ethical business practices. Thrivent has now been recognized for 13 consecutive years and is one of only six honorees in the financial services industry this year. In 2024, 136 honorees were recognized spanning 20 countries and 44 industries.
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Categories: Industry News, Long-Term Care, and Thrivent.
Tags: closure, holiday, holiday closing, holiday closure, insurance, Long-Term Care, long-term care insurance, LTC, LTCi, office closing, tax, tax advantages, tax deductibility, Tax Deductions, Thrivent, Thrivent Financial, and Thrivent Financial for Lutherans.

Ethisphere names Thrivent as one of the 2023 World’s Most Ethical Companies for the 12th consecutive year

March 20, 2023 | by V | Comments Off

Ethisphere names Thrivent as one of the 2023 World’s Most Ethical Companies for the 12th consecutive year Recognition honors companies demonstrating business integrity through best-in-class ethics, compliance, and governance practices March 13, 2023 MINNEAPOLIS – Thrivent, a Fortune 500 diversified financial services organization, has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2023 World’s Most Ethical Companies. Thrivent has been recognized for 12 consecutive years and is one of only seven honorees in the financial services industry on the list. In 2023, 135 honorees were recognized spanning
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Share the tax advantages of long-term care insurance

February 16, 2023 | by V | Comments Off

Tools to enable more proactive extended care conversations There are many reasons why clients should create a long-term care strategy. One message that has resonated well with consumers, is on the tax advantages of planning with long-term care insurance. Premiums might be deductible, claims are paid tax-free and some states offer tax incentives for LTCi policyholders. These tools are designed to help you share news on these tax advantages with your clients. LTCi Tax Deductibility Guide Updated with 2023 amounts Many clients are not aware that LTC benefits are paid 100% tax-free, but some or all of the premiums might
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Good News | Updated 2021 Tax Deductible Limits Just Announced

November 30, 2020 | by F | Comments Off

Good News! New 2021 Tax Deductible Limits for LTCi Just Announced Increased tax deductible limits can be a significant benefit for those with tax-qualified long-term care insurance policies, according to the American Association for Long-Term Care Insurance. The following are the just-announced 2021 limits (2020 in brackets): Attained Age Before Close of Taxable Year 2021 Limit (2020) 40 or less $450 ($430) More than 40 but not more than 50 $850 ($810) More than 50 but not more than 60 $1,690 ($1,630) More than 60 but not more than 70 $4,520 ($4,350) More than 70 $5,640 ($5,430) Click here for
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Categories: GoldenCare News, Industry News, and Long-Term Care.
Tags: Long-Term Care and tax advantages.

Important Life Underwriting Update

April 20, 2020 | by V | Comments Off

Throughout the rapidly evolving pandemic, Mutual of Omaha has been continuously evaluating our underwriting and new business practices to support business continuity, deliver a consistently high level of service, and maintain our financial strength. As a result, effective Wednesday, April 15, 2020, we are implementing the following temporary changes to our life insurance underwriting guidelines. These changes apply to all fully-underwritten life insurance cases that are not already approved or issued. This includes any newly submitted and pending in-house cases, whether formal or informal. Postponements Due to International Travel All fully-underwritten life insurance cases where the proposed insured has plans
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Categories: COVID-19, Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).
Tags: DI, disability income, income protection, insurance, mutual of omaha, omaha, PIP, Priority Income Protection, tax, and tax advantages.

Increased Simplified Underwriting Amounts for Disability Income

April 20, 2020 | by V | Comments Off

Mutual of Omaha is committed to helping you continue to meet the income protection needs of your clients. We have good news to share, to make it easier to sell disability income insurance. Effective immediately, we are making the following enhancement to new applications for simplified underwriting guidelines: Increasing the amount from $3,000 to $6,000 of monthly benefit Advantages of Simplified Underwriting: Ages 18-45, no labs up to and including $6,000 Age 46+ blood urine, physical data No financial requirements up to and including $6,000 monthly benefit, all benefit periods* *If requesting the self-employed discount, two-year financial documentation will be
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Categories: COVID-19, Disability Income Insurance, Industry News, and Mutual of Omaha (& Affiliates).
Tags: DI, disability income, income protection, insurance, mutual of omaha, omaha, PIP, Priority Income Protection, tax, and tax advantages.

The Risk is Real

March 23, 2020 | by V | Comments Off

While most people don’t think twice about purchasing auto, homeowners’ or even life insurance, they often fail to realize that their most valuable asset is their ability to earn an income. Suffering a disability for any length of time because of a sickness or injury could have devastating financial consequences for clients. Here are some insights into how real the risks are: At least 51 million working adults in the United States are without disability insurance other than the basic coverage available through Social Security. Only 48 percent of American adults indicate they have enough savings to cover three months
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Categories: Disability Income Insurance, Industry News, and Mutual of Omaha (& Affiliates).
Tags: DI, disability income, income protection, insurance, mutual of omaha, omaha, PIP, Priority Income Protection, tax, and tax advantages.

Supplementing Disability Income Insurance Coverage

March 9, 2020 | by V | Comments Off

Some consumers may have a disability income policy insurance through their employer, it’s important to ask them about how the policy would pay. Consider whether the policy’s monthly benefits would begin to pay benefits soon enough. Clients need to understand their existing coverage to help solve the protection gap. One solution is to supplement current employer coverage with an individual short-term disability income insurance. Short-term coverage can help pay monthly benefits sooner than an employer’s long-term disability insurance policy. And it can pay up until the time employer-sponsored benefits begin. As a producer, you can provide more complete income protection
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Tax Advantages of Disability Income Insurance

February 3, 2020 | by V | Comments Off

The taxation of disability income insurance is straightforward – especially in individual cases. However, surprises can occur if policies are set up incorrectly as unexpected taxation of a benefit reduces available funds at precisely the wrong time. Individual DI In terms of taxes, individual DI is rather clear cut. Premiums paid by individual policyholders are non-deductible as they are not considered an eligible medical expense on Schedule A. Also, benefits are not included as income and therefore not taxable. Employer-Paid DI In disability income cases where a business entity is involved, the tax implications are varied. Here are some common
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