Living benefits of life insurance refer to advantages and financial support provided to policyholders while they are still alive, ensuring additional financial security during critical life events.
Long-Term Care (LTC) encompasses the day-to-day care provided to individuals, usually over the age of 65, either in nursing facilities or at home. This care is necessary following illness, injury, or due to age when a person is no longer able to perform at least two out of the five basic activities of daily living: walking, eating, dressing, using the bathroom, and moving from one place to another.
Congressional pension reform legislation designed to encourage individual retirement savings and to make employer-funded plans subject to stricter regulation. Provisions also affect charitable contributions, long-term care, college savings plans, and assistance to employees in setting up 403(b) and 401(k) plans.
