It's a fact:

What is long-term care?

Most people associate
individuals of all ages who can no longer independently perform basic
day-care centers, hospices, and nursing homes.

Why you need long-term
care insurance (LTCI

Even though you may
never need long-term care, you’ll want to be prepared in case you ever do,
requirements–you would have to exhaust a large portion of your life savings to
become eligible for it. And since HMOs, Medicare, and Medigap don’t pay for
most long-term care expenses, you’re going to need to find alternative ways to

However, LTCI is not for
some or all of the following apply:

You are between the ages
of 40 and 84

You have significant
assets that you would like to protect

You can afford to pay
the premiums now and in the future

You are in good health
and are insurable

How does LTCI work?

Typically, an LTCI
type of long-term care outlined in the policy.

Most policies provide
common method for determining when benefits are payable is based on your

Some policies, however,
medically necessary. Others will also offer benefits for cognitive or mental
incapacity, demonstrated by your inability to pass certain tests.

Comparing LTCI policies

Before you buy LTCI,
it’s important to shop around and compare several policies. Read the Outline of

When comparing policies,
you’ll want to pay close attention to these common features and provisions:

Elimination period: The

Duration of benefits:

Daily benefit: The
$50 to $350).

Optional inflation
rider: Protection against inflation.

Range of care: Coverage

Pre-existing conditions:
effect regarding treatment for pre-existing conditions.

Other exclusions:

Premium increases:
Whether or not your premiums will increase during the policy period.

Guaranteed renewability:
any changes in your health.

Grace period for late
late paying the premium.

Return of premium:
Return of premium or nonforfeiture benefits if you cancel your policy after
paying premiums for a number of years.

Prior hospitalization:

When comparing LTCI
attorney, or accountant for more information.


p style="margin-bottom: 7.5pt; line-height: normal; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">What’s it going to cost?

There’s no doubt about
you purchase a policy, the lower your premiums will be.

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