[LTPC-discussions] Tax Qualified vs. Non TQ
Bob Hadidian
ltpc-disc@ltpcalums.com
Tue, 15 Jul 2003 08:39:28 -0700
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NTQ plans require the loss of 2of 7 ADL's as opposed to 2 of 6 ADL's. =
But the ambulating ADL of the NTQ is rolled into the transferring ADL =
of the TQ. So it is slightly easier to qualify, yet still about 10-15% =
more expensive.
----- Original Message -----=20
From: Jerry=20
To: ltpc-disc@ltpcalums.com=20
Sent: Tuesday, July 15, 2003 8:31 AM
Subject: RE: [LTPC-discussions] Tax Qualified vs. Non TQ
NTQ plans are supposedly much easier to qualify for benefits. You do =
not have the 90day and loss of 2 ADL's requirement as the medically =
necessary requirement allows a person NOT to loose ANY ADL's just =
medically necessary. As far as the tax deductibility issue, I am told =
that it is not a problem because it is considered health insurance which =
is deductible.
-----Original Message-----
From: ltpc-disc-admin@ltpcalums.com =
[mailto:ltpc-disc-admin@ltpcalums.com] On Behalf Of Bob Hadidian
Sent: Tuesday, July 15, 2003 11:12 AM
To: ltpc-disc@ltpcalums.com
Subject: Re: [LTPC-discussions] Tax Qualified vs. Non TQ
Kevin
Personally, I see no reason to write a NTQ policy. In fact, in =
California it is no longer necessary for a company to offer both TQ and =
NTQ. Cal. Partnership policies are required to be TQ.
I do not even stock NTQ paperwork. Some of the reasons:
=B7 More certain of the tax status (line item deduction may =
soon be allowed)
=B7 NTQ premiums are higher
=B7 NTQ Has a 'medically necessary" requirement
=B7 LTC is confusing enough for the client, eliminating NTQ is =
just one less thing to cloud the issues.
Hope this helps.
Bob
----- Original Message -----=20
From: Kevin Hanner=20
To: ltpc-disc@ltpcalums.com=20
Sent: Tuesday, July 15, 2003 5:52 AM
Subject: [LTPC-discussions] Tax Qualified vs. Non TQ
At LTPC, all agents wrote tax-qualified policies. Since leaving, is =
anybody writing Non TQ plans? Most agents look at the pros and cons of =
each type of plan and that is all they write. I would like to see some =
discussion regarding thoughts and opinions on this topic (i.e., if all =
you write is Tax Qualified, what is your basis for doing so?) Thanks.
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<DIV><FONT face=3DArial size=3D2>NTQ plans require the loss of 2of 7 =
ADL's as=20
opposed to 2 of 6 ADL's. But the ambulating ADL of the NTQ is =
rolled into=20
the transferring ADL of the TQ. So it is slightly easier to qualify, yet =
still=20
about 10-15% more expensive.</FONT></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Djerbauer@adelphia.net =
href=3D"mailto:jerbauer@adelphia.net">Jerry</A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dltpc-disc@ltpcalums.com=20
href=3D"mailto:ltpc-disc@ltpcalums.com">ltpc-disc@ltpcalums.com</A> =
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Tuesday, July 15, 2003 =
8:31=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [LTPC-discussions] =
Tax=20
Qualified vs. Non TQ</DIV>
<DIV><BR></DIV>
<DIV class=3DSection1>
<P class=3DMsoNormal><I><FONT face=3D"Book Antiqua" color=3Dnavy =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 11pt; COLOR: navy; FONT-STYLE: italic; =
FONT-FAMILY: 'Book Antiqua'">NTQ=20
plans are supposedly much easier to qualify for benefits. You do =
not=20
have the 90day and loss of 2 ADL=92s requirement as the =
medically=20
necessary requirement allows a person NOT to loose ANY ADL=92s just =
<U>medically=20
necessary. </U>As far as the tax deductibility issue, I am told =
that it=20
is not a problem because it is considered health insurance which is=20
deductible.</SPAN></FONT></I></P>
<P class=3DMsoNormal><I><FONT face=3D"Book Antiqua" color=3Dnavy =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 11pt; COLOR: navy; FONT-STYLE: italic; =
FONT-FAMILY: 'Book Antiqua'"></SPAN></FONT></I> </P>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DTahoma =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">-----Original=20
Message-----<BR><B><SPAN style=3D"FONT-WEIGHT: bold">From:</SPAN></B>=20
ltpc-disc-admin@ltpcalums.com [mailto:ltpc-disc-admin@ltpcalums.com] =
<B><SPAN=20
style=3D"FONT-WEIGHT: bold">On Behalf Of </SPAN></B>Bob =
Hadidian<BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">Sent:</SPAN></B> </SPAN></FONT><FONT =
face=3DTahoma=20
size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">Tuesday, =
July 15,=20
2003</SPAN></FONT><FONT face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma"> </SPAN></FONT><FONT =
face=3DTahoma=20
size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">11:12=20
AM</SPAN></FONT><FONT face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma"><BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">To:</SPAN></B> =
ltpc-disc@ltpcalums.com<BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">Subject:</SPAN></B> Re: [LTPC-discussions] =
Tax=20
Qualified vs. Non TQ</SPAN></FONT></P>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: 12pt"></SPAN></FONT> </P>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Kevin</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Personally, I see no =
reason to=20
write a NTQ policy. In fact, in California it is no longer necessary =
for a=20
company to offer both TQ and NTQ. Cal. Partnership policies are =
required to be=20
TQ.</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">I do not even stock NTQ =
paperwork.=20
Some of the reasons:</SPAN></FONT></P></DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 1in; TEXT-INDENT: =
-0.25in"><FONT=20
face=3DSymbol size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Symbol">=B7<FONT=20
face=3D"Times New Roman" size=3D1><SPAN=20
style=3D"FONT: 7pt 'Times New =
Roman'"> =20
</SPAN></FONT></SPAN></FONT><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">More certain of the tax =
status=20
(line item deduction may soon be allowed)</SPAN></FONT></P>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 1in; TEXT-INDENT: =
-0.25in"><FONT=20
face=3DSymbol size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Symbol">=B7<FONT=20
face=3D"Times New Roman" size=3D1><SPAN=20
style=3D"FONT: 7pt 'Times New =
Roman'"> =20
</SPAN></FONT></SPAN></FONT><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">NTQ premiums are=20
higher</SPAN></FONT></P>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 1in; TEXT-INDENT: =
-0.25in"><FONT=20
face=3DSymbol size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Symbol">=B7<FONT=20
face=3D"Times New Roman" size=3D1><SPAN=20
style=3D"FONT: 7pt 'Times New =
Roman'"> =20
</SPAN></FONT></SPAN></FONT><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">NTQ Has a 'medically =
necessary"=20
requirement</SPAN></FONT></P>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 1in; TEXT-INDENT: =
-0.25in"><FONT=20
face=3DSymbol size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Symbol">=B7<FONT=20
face=3D"Times New Roman" size=3D1><SPAN=20
style=3D"FONT: 7pt 'Times New =
Roman'"> =20
</SPAN></FONT></SPAN></FONT><FONT face=3DArial size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">LTC is confusing enough =
for the=20
client, eliminating NTQ is just one less thing to cloud the=20
issues.</SPAN></FONT></P>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Hope this=20
helps.</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Bob</SPAN></FONT></P></DIV>
<BLOCKQUOTE=20
style=3D"BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: =
medium none; PADDING-LEFT: 4pt; PADDING-BOTTOM: 0in; MARGIN: 5pt 0in 5pt =
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medium none">
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">----- Original Message =
-----=20
</SPAN></FONT></P></DIV>
<DIV style=3D"font-color: black">
<P class=3DMsoNormal style=3D"BACKGROUND: #e4e4e4; MARGIN-LEFT: =
0.5in"><B><FONT=20
face=3DArial size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">From:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> <A=20
title=3Dkhanner@triad.rr.com =
href=3D"mailto:khanner@triad.rr.com">Kevin=20
Hanner</A> </SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial=20
size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">To:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> <A=20
title=3Dltpc-disc@ltpcalums.com=20
href=3D"mailto:ltpc-disc@ltpcalums.com">ltpc-disc@ltpcalums.com</A>=20
</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial=20
size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Sent:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">=20
Tuesday, July 15, 2003 5:52 AM</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial=20
size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Subject:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">=20
[LTPC-discussions] Tax Qualified vs. Non TQ</SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">At LTPC, all agents =
wrote=20
tax-qualified policies. Since leaving, is anybody writing Non =
TQ=20
plans? Most agents look at the pros and cons of each type of =
plan and=20
that is all they write. I would like to see some discussion =
regarding=20
thoughts and opinions on this topic (i.e., if all you write is Tax=20
Qualified, what is your basis for doing so?) =20
=
Thanks.</SPAN></FONT></P></DIV></BLOCKQUOTE></DIV></BLOCKQUOTE></BODY></H=
TML>
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