Found this on the web. Is it saying there is no tax on this surrender value?
LTC NEWS has designed this guide on the tax advantages of Long-Term Care Insurance. Generally, no. Tax-qualified Long-Term Care Insurance benefits come to you tax-free. Insurance companies that pay long-term care insurance benefits are required by the Internal Revenue Service (IRS) to provide claimants with a 1099 LTC.
- thanks for you assistance
