Protecting What You’ve Built: A Closer Look at Life Insurance and Long-Term Care Planning
Insurance is often set up and forgotten but the policies you own deserve the same ongoing attention as the rest of your financial plan. Below are three resources to help you make sure your coverage is working as intended. These resources are provided jointly by Hobbs Group Advisors and one of our partners, The Cason Group.
Is Your Life Insurance Policy Still Performing as Expected?
Shifting interest rates over the past few decades have quietly eroded the performance of many older cash value policies. A formal policy review analyzes whether your coverage still aligns with your goals and whether a more competitive product might serve you better.
Business Owners: Are Your Employer-Owned Life Insurance Policies Compliant?
Death benefits paid to an employer aren’t automatically tax-free. Under Section 101(j), companies must meet specific IRS requirements — including written employee notice and consent at issuance and annual Form 8925 filings — or risk a portion of the benefit being treated as taxable income. If these policies haven’t been reviewed for compliance, now is a good time.
Employer-Owned Life Insurance Policy Review
Long-Term Care Insurance: Tax Advantages Worth Knowing About
If you own a tax-qualified LTC policy, you may be able to deduct a portion of your premiums as a medical expense. Business owners often have even greater flexibility — C-corporations can deduct 100% of premiums, and self-employed individuals and S-corp owners can deduct up to age-based limits. HSA funds can also be used to pay premiums, and 1035 exchanges allow existing life insurance or annuity values to be converted into LTC coverage tax-free.
