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Question 1 of 5
1. Question
A “chronically-ill individual” is a person who has been certified by a licensed health care practitioner as being unable, for at least _________, to perform at least two activities of daily living (ADLs) without substantial assistance from another individual, due to loss of functional capacity.
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Question 2 of 5
2. Question
Jane receives long-term care benefits due to a cognitive impairment. How frequently must she be re-certified by a licensed health care practitioner in order to continue to qualify for benefits?
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Question 3 of 5
3. Question
Which of the following may affect the tax-deductibility of tax-qualified long-term care insurance premiums?
- Annually-adjusted dollar limits based on an insured’s age
- The policyholder’s adjusted gross income
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Question 4 of 5
4. Question
Alan owns an annuity/long-term care hybrid product. If the annuity has a $3,000 gain under the contract during a year that $4,000 in charges were made against the cash value to pay for tax-qualified long-term care insurance provided in a rider, how much must he recognize as income because of the charge against the cash value?
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Question 5 of 5
5. Question
Under which of the following combination (hybrid) long-term care products is the independent long-term care insurance benefit paid only after all cash value has been used to pay long-term care expenses?
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