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Long-Term Care Insurance Q&A Quick Test Question #1: What type of insurance will protect your assets from loss due to lawsuits? A. Disability Insurance B. Lawsuit Insurance C. Umbrella Insurance D. Long-Term Care Insurance Question #2: What is the length of time you must be disabled before you will begin drawing benefits? A. Period of Loss B. Elimination Period C. Benefit Period D. Injury Time Question #3: True or False. The premiums of long-term care policies are tax-deductible for all policy owners. A. True B. False Question #4: How are the benefits you would receive from a long-term care policy taxed? A. Like normal income B. They are tax-free C. Taxable only if they exceed 7.5% of AGI D. State tax free, but federally taxable AIG VALIC is the marketing name for the family of companies comprising VALIC Financial Advisors, Inc.; VALIC Retirement Services Company; VALIC Trust Company; and The Variable Annuity Life Insurance Company (VALIC); members of American International Group, Inc. < PREVIOUS NEXT> #38599