DANBURY, Conn., Dec. 8, 2010 /PRNewswire/ -- (www.myprgenie.com) -- Corporate Compensation Plans (CCP) has used its proprietary software system to design a long term care insurance plan for the affluent that will conserve wealth, reduce estate taxes, and help transfer wealth on a tax-advantaged basis.
"Long term care insurance," said Philip Davis, CCP's President, "is usually thought of as protection for individuals who do not have enough assets to self-insure the potential costs of extended health care. However, when used as a component of a strategy to reduce estate taxes and eliminate the need to liquidate assets, it can become a valuable wealth conservation tool."
CCP's special software program demonstrates how long term care insurance can provide a multi-million dollar upside to estates with little, if any, cost to the estate if the individual never needs extended health care. "In other words," said Tasha Mayberry, CCP's Vice President of Marketing, "the plan is very similar to an investment put - if extended health care is needed, the 'put' is exercised and the insurance company pays all of the costs. However, unlike a put, if extended health care is never needed, the insurance company will refund 100% of the premium payments."
CCP's wealth conservation plan is discussed in detail in the following White Paper: How to Use Long Term Care Insurance to Conserve Assets, Reduce Estate Taxes, and Transfer Wealth.
For nearly four decades, Corporate Compensation Plans has been creating and administering tax and cost effective benefit plans for many of the largest corporations and law firms in the country. Its website can be visited at www.corpcompinc.com.
SOURCE Corporate Compensation Plans