Get Free Quotes Now
Long Term Care Insurance"Shopper's Guide to your Long Term Care Insurance Policy" is produced by The National Association of Insurance Commissioners (NAIC) and can usually be obtained from your State Insurance Department. "The Consumer's Guide to your Long Term Care Insurance Policy" is produced by The Health Insurance Association of America (HIAA) which provides basic information on a long term care insurance policy. Several companies offer plans and it is important to research the suggested plan in order to make an educated decision. Read the various literature carefully if you are considering a policy because buying a long term care insurance policy may not be for everybody. It is wise to request an outline of coverage that details policy features. Feel free to ask questions. An informed agent will be able to help you make an educated decision. Long Term Care Insurance Policy ChecklistHow are these services covered? Home health care What is the per day benefit for: Home health care Expected future costs are expected to rise. Does the long term care insurance policy offer a benefit increase rider? If so, exactly how? What are the options? What is the additional premium? Maximum lifetime benefit? If so, what is it? Home health care Is there a maximum length of coverage per "illness" or benefit period maximum? If so, what is it? Home health care Pre-existing conditions are covered after what time frame? What will be my out of pocket expenses before the long term care insurance policy benefits begin (what is "the waiting period")?
A prior nursing home stay for home health care Can the long term care insurance policy be canceled? Will the plan cover you in other States? Is there an age range for new enrollees? The cost of the policy? Per year? Per month? What is a "qualified" long term care insurance policy contract? |
