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A long term care policy prohibited provision
Cancels norenews or terminate policy on the grounds of a deterioration of mental or physical health of the insured provides coverage for only skilled nursing care instead of lower levels of care limit are denies benefits to a policyholder who was the diagnosed with any destructive brain tissue disease that will result in loss of brain function
To address adverse selection what can an insurer legally do
Underwriting helps to protect agent against adverse selection and accepting risk that are more likely the average to suffer losses established and enforce sound underwriting practices
Premiums are not tax deductible and benefits are subject to federal income tax a federal income FICA tax
Premiums paid with after tax dollars Income Benefit not taxable individually on disability income policy
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