In a Private Letter Ruling, the IRS has held that a long-term care (LTC) insurance policy with a death benefit qualified under the “long-term care insurance rule.” Specifically, the LTC policy also included a premium stabilization feature and a refund of premium (ROP) death benefit. The IRS held that the ROP death benefit under the policy was consistent with the requirements for the treatment of the policy as a qualified long-term care insurance contract. The benefit is payable only on the death of the policyholder and, thus, satisfies the IRS timing restriction. The amount of this benefit can’t exceed the percentage of the aggregate premiums paid by the policy holder owner. (PLR 201930025)