What is Long-Term Care Insurance?
Long-Term Care Insurance (LTCI) is a type of insurance designed to help cover the cost of long-term care services that traditional health insurance, Medicare, or disability insurance may not fully pay for. Many people assume they’ll never need long-term care. However, as people live longer, the likelihood of needing assistance…
What Is Section 7702? Understanding the Tax Advantages of Permanent Life Insurance
If you’ve researched permanent life insurance or tax-advantaged financial strategies, you’ve probably heard someone mention “Section 7702” or a “7702 Plan.” One of the biggest misconceptions is that a 7702 Plan is a special retirement plan or investment account. It isn’t. Section 7702 is…
Washington State Long-Term Care (WA Cares Fund): What You Need to Know
Washington State became the first state in the nation to create a mandatory, publicly funded long-term care program known as the WA Cares Fund. The program was designed to help eligible workers pay for future long-term care expenses through a payroll-funded insurance benefit. While the program provides an important safety net, many…