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Convert Old Life Insurance to Long-Term Care Tax-Free | Durham News
Did you know you could turn your old life insurance policy into long-term care coverage tax-free? With a 1035 exchange, millions could avoid the crushing cost of nursing home care—averaging over $122K a year—without paying taxes. But it’s not foolproof: health status, surrender fees, and loans can block the move, and it must be a direct swap between insurers. Plus, the clock is ticking—coverage denial rates spike after 65. If you’ve got an older policy and want to hedge against future care costs, consult a financial and tax pro before you act. Listen in comfort:Get a discount on a Soli…
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