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Individual Long Term Care Health Insurance - Long Term Care Insurance

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Long Term Care Insurance

Long Term Care insurance evolved out of a need for further coverage in the care of Long Term Disability that some Disability Insurance policies do not cover. A Long Term Care Policy does not have a cash value, a client pays a premium that maintains the policy for a specific period of time


When purchasing Long Term Care insurance there are three key factors to consider:

  • The Amount of your Daily Benefit

    Usually this can range from $50 to $250 per day.

  • The Benefit Period

    This is the length of time you will receive payments from the health insurance company which is selected in a number of years ranging from one to a lifetime.

  • And the policies' Elimination Period

    This is the number of days, weeks or months that you will be financially responsible for your own care before the insurance policy begins to pay. Check your policy and note whether this elimination period is per lifetime or can be repeated in multiple occurrences.

Long Term Care insurance comes with many optional benefits, each serves to increase the value to the policyholder and adds additional premium.

Inflation Protection - increases your daily benefit on an annual basis to keep step with inflation. This rider will increase your premium annually, but will provide you long term financial protection at the level you purchase on a continuing basis. It is suggested that one purchase this rider if you are purchasing a Long Term Care policy at a younger age.
Home Health Care Coverage - While most policies provide for institutional care, some clients have expressed their preference for care while at home. This policy rider will allow you to receive a benefit that covers services rendered at home. It may also offer coverage for Adult Day Care Centers and Assisted Living Facilities.

Nonforfeiture - This rider providers protection against allowing the policy to lapse. It takes extra premium now to ensure coverage even if you miss your regularly scheduled premium payment.

While this is not a comprehensive guide to Long Term Care Insurance, provides this information to you in an effort to assist our clientele to be more knowledgeable consumers. We always recommend finding a financially strong reputable company and an agent with knowledge of long term care issues.

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