Premiums Paid for Long-Term Care Insurance Policies May Be Deductible

question 96

True/False

Premiums paid for long-term care insurance policies may be deductible as medical expenses.

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Definitions:

Economic Reason

The underlying rationale or motive behind financial decisions or actions, often based on maximizing efficiency or profit.

Transactions Demand

The need to hold money for the purpose of conducting transactions in the short term.

Abrupt Price Drop

A rapid and significant decrease in the market price of a security or commodity.

Blanket Liens

A legal claim allowing a lender to seize nearly all of a borrower's assets if they default on a loan.