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AARP, insurers back long-term-care break.

By Hansard, Sara
Publication: Investment News
Date: Monday, May 21 2001

Favor tax deduction; prospects improve

Legislation allowing people to deduct the cost of long-term-care insurance from their taxable income is making strange bedfellows in Washington.

The bill is drawing support from the insurance industry as well as the AARP, the association for people over 50. The two groups don't normally see eye to eye.

But financial planners, who are selling more of the policies to aging baby boomers, don't unanimously support the bill, and some dispute claims by the insurance industry that it will result in more policy sale

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