Long Term Care Insurance covers what all the other health insurances don’t cover, such as care in your home, assisted living and nursing home facilities.
Long-Term Care Coverage:
Policies provide comprehensive long term care coverage for home care, assisted living and nursing facilities. Benefits are paid using one of three different methods:
Daily or Monthly Benefits: $100-$500 day or $3000-$15,000 monthly
Benefit Periods: Insured person may choose from 2, 3, 4, 5, 6, 10 years or lifetime benefits. This period determines your pool of benefits.
Examples:
Elimination Periods (sometimes called a deductible or a waiting period): This means benefits can start 0, 20, 30, 60, 90 or 100 days after you start using long-term care or become disabled.
Inflation Protection:
Inflation increases the pool of money each year. This is to keep up with the rising costs of long-term care.
Options for Funding Long Term Care Insurance
What Triggers Long Term Care Insurance Benefits
2 out of 6 Activities of Daily Living
About the Author:
Shelly Kapfhammer, is a Long Term Care Specialist for the Tax & Financial Group in Newport Beach, California. Shelly provides training and education to Financial Advisors, Life Insurance Professionals, Property and Casualty Agents, CPA's and Attorneys on the importance of Long Term Care in their portfolio. She works closely with the group health market on the need for Long Term Care as a health benefit in the workplace, as well as, affinity groups and associations. Shelly also personally sells Long Term Care Insurance to the indivual and group market. Shelly has been a guest speaker on the Los Angeles radio station 99.3 KCLA.
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Catharine “Kate” is a Certified Administrator for Residential Care Facilities for the Elderly (RCFE) and an Expert Senior Care Advisor. Kate’s grandmother battled Alzheimer’s Disease and Kate personally understands what millions of families are going through. Kate and her team are very passionate in empowering Seniors and their families by providing them with the Best Available Senior Care Options based on Senior’s care needs, preferred location and family’s budget.
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