2 Things You Need to Know Before You Get Long Term Care Benefits

Compare Plans - Get Quick Free Quotes

Find Local Doctors & Most Popular Plans
Secure Form
Find Local Doctors & Most Popular Plans

Financially strong A.M Best rated insurers with low complaint ratios related to claims will send you quotes directly and promptly. You may also have access to instant rate quotes, and side by side plan comparisons. The service is free, and comes with no obligation. Your privacy is our highest priority.

PLUS, Receive 2 FREE Books -
Long Term Care Insurance & Preventing Dementia

2 Things You Need to Know Before You Get Long Term Care Benefits

Long term care insurance policies cover the costs incurred for getting long term care services, like, stay at nursing home, assisted living facility, adult day care facility and also home health aides. Long term care policy applicants have to go through medical underwriting process. If you are receiving long term care services at the time of application, you may not be eligible to buy a policy.

Like other insurance policies, long term care insurance policies also have some regulations which determine how and when you can receive the benefits.You have to fulfil these criteria in order to start receiving the benefits as per the terms of the policy.Two of the most important ones are -

  • Benefit triggers
  • Elimination period

Benefit Triggers

These are the list of conditions which make you eligible to receive the benefits of your long- term care insurance policy.

  • Activities of daily living - there is a list of six everyday activities that all long-term care insurance companies consider as the standard. These are- eating, bathing, using the toilet, dressing, transferring (moving to and from bed or chair) and continence. If a person is unable to perform any two of these, he or she is considered to be eligible for benefits.
  • The condition of the policyholder seeking benefits has to be certified by an authorized medical personnel or social worker through assessment of the person. The assessment is noted in the prescribed form by the authorized person.
  • After the completion of the assessment process, the insurance company representative outlines the plan of care and approves the eligibility of the policyholder to receive benefits.

Elimination Period

A long-term care policy will not start giving the benefits as soon as you are eligible to receive benefits.

  • A policyholder has to wait for a certain period of time before the insurance company starts the benefits
  • This period varies as per the terms of the policy - it can be 30, 60 or 90 days from the day the person is declared eligible to receive benefits
  • Long term care costs during the elimination period have to be met by the policyholder on his own
  • Some long-term care insurance policies make it a must to pay for services during the elimination period

After a policyholder meets these conditions, the insurance company starts paying the cash benefit amount according to the maximum daily amount specified in the policy. The payment can continue till the maximum lifetime amount value is reached. Some insurance companies offer the option of 'cash disability', at additional cost, which lets the policyholder start receiving benefits as soon as he or she is approved for the benefit triggers criterion.

More Useful Links:

Are Long Term Care Insurance Plans Priced Uniformly Across The USA?

ASSET PROTECTION

Help protect your savings from the costs of care NOT COVERED
by traditional insurances or Government programs, like Medicare.
It helps you choose where you receive care and avoid the nursing home!

OVERWHELMING STATISTICS
  • 40% receiving long-term care are working-age adults, ages of 18-64.*
  • About 70% over age 65 will need long-term care services in their
    lifetime. By 2020, this number is expected to exceed 12 million.*
WHY US?

Financially strong A.M Best rated insurers with low complaint ratios related to claims will send you quotes directly and promptly. You may also have access to instant rate quotes, and side by side plan comparisons. The service is free, and comes with no obligation. Your privacy is our highest priority.

DISCOUNTS AVAILABLE

Sample Long-Term Care Insurance Savings Opportunities

Up to 30% Spousal/Partner Discount

Up to 15% Preferred Health Discount

Up to 5% Small Business Discount

* Discounts are not cumulative and vary by state.

Find Local Doctors & Most Popular Plans

Financially strong A.M Best rated insurers with low complaint ratios related to claims will send you quotes directly and promptly. You may also have access to instant rate quotes, and side by side plan comparisons. The service is free, and comes with no obligation. Your privacy is our highest priority.

PLUS, Receive 2 FREE Books -
Long Term Care Insurance & Preventing Dementia

2 Things You Need to Know Before You Get Long Term Care Benefits

Long term care insurance policies cover the costs incurred for getting long term care services, like, stay at nursing home, assisted living facility, adult day care facility and also home health aides. Long term care policy applicants have to go through medical underwriting process. If you are receiving long term care services at the time of application, you may not be eligible to buy a policy.

Like other insurance policies, long term care insurance policies also have some regulations which determine how and when you can receive the benefits.You have to fulfil these criteria in order to start receiving the benefits as per the terms of the policy.Two of the most important ones are -

  • Benefit triggers
  • Elimination period

Benefit Triggers

These are the list of conditions which make you eligible to receive the benefits of your long- term care insurance policy.

  • Activities of daily living - there is a list of six everyday activities that all long-term care insurance companies consider as the standard. These are- eating, bathing, using the toilet, dressing, transferring (moving to and from bed or chair) and continence. If a person is unable to perform any two of these, he or she is considered to be eligible for benefits.
  • The condition of the policyholder seeking benefits has to be certified by an authorized medical personnel or social worker through assessment of the person. The assessment is noted in the prescribed form by the authorized person.
  • After the completion of the assessment process, the insurance company representative outlines the plan of care and approves the eligibility of the policyholder to receive benefits.

Elimination Period

A long-term care policy will not start giving the benefits as soon as you are eligible to receive benefits.

  • A policyholder has to wait for a certain period of time before the insurance company starts the benefits
  • This period varies as per the terms of the policy - it can be 30, 60 or 90 days from the day the person is declared eligible to receive benefits
  • Long term care costs during the elimination period have to be met by the policyholder on his own
  • Some long-term care insurance policies make it a must to pay for services during the elimination period

After a policyholder meets these conditions, the insurance company starts paying the cash benefit amount according to the maximum daily amount specified in the policy. The payment can continue till the maximum lifetime amount value is reached. Some insurance companies offer the option of 'cash disability', at additional cost, which lets the policyholder start receiving benefits as soon as he or she is approved for the benefit triggers criterion.

More Useful Links:

Are Long Term Care Insurance Plans Priced Uniformly Across The USA?

ASSET PROTECTION

Help protect your savings from the costs of care NOT COVERED
by traditional insurances or Government programs, like Medicare.
It helps you choose where you receive care and avoid the nursing home!

OVERWHELMING STATISTICS
  • 40% receiving long-term care are working-age adults, ages of 18-64.*
  • About 70% over age 65 will need long-term care services in their
    lifetime. By 2020, this number is expected to exceed 12 million.*
WHY US?

Financially strong A.M Best rated insurers with low complaint ratios related to claims will send you quotes directly and promptly. You may also have access to instant rate quotes, and side by side plan comparisons. The service is free, and comes with no obligation. Your privacy is our highest priority.

DISCOUNTS AVAILABLE

Sample Long-Term Care Insurance Savings Opportunities

Up to 30% Spousal/Partner Discount

Up to 15% Preferred Health Discount

Up to 5% Small Business Discount

* Discounts are not cumulative and vary by state.