Bob Graham of the Insurance & Financial Advisor Web News reported that a newly proposed piece of legislation would provide a 50 Percent Tax Deduction on Long Term Care Insurance. Read It Here (New Window)

Rep. Rodney Alexander (R-La.) has introduced the Sunset of Life Protection Act (H.R. 1891).

Alexander said his intention was to minimize the need for individuals to rely on public resources in their later years by taking measures now to ensure a comfortable and complete long-term care coverage package. He also stated:

"Increased life expectancy, coupled with the rapidly aging baby-boomer generation forces more Americans to face the challenges of caring for either themselves or their loved ones."

This legislation would go a long way toward helping people plan for their future. Unexpected long term care events can wipe out life long savings without the protection of good Long Term Care insurance from a reputable carrier.