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Question 1 of 4
1. Question
John has a long term care insurance policy that provides a daily benefit of $200 and pays benefits under an indemnity provision. What benefit would be paid if the charges for his covered care were $175, assuming the elimination period had been satisfied?
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Question 2 of 4
2. Question
What is the grace period in a long term care insurance policy that normally applies to a premium not paid by the due-date?
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Question 3 of 4
3. Question
All tax-qualified long term care insurance policies must have a/an _______ renewability provision.
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Question 4 of 4
4. Question
Arthur is a self-employed taxpayer whose adjusted gross income last year was $100,000. If he paid tax-qualified long term care insurance premiums of $6,000 and had other medical expenses of $4,500, what is his maximum tax deduction for long term care insurance premiums assuming the premiums do not exceed the applicable dollar limit?
