Long Term Care Insurance plans can help pay for Assisted Living,
Nursing Home placement, and In-Home Services.
In choosing a Long Term Care Insurance plan, it is very important to check the company's
ratings and history. You can do this through your state's Insurance Commissioner's
Office. Regardless of the company, you will want to ask certain questions. Some of the
questions to consider are:
Nursing Home placement, and In-Home Services.
In choosing a Long Term Care Insurance plan, it is very important to check the company's
ratings and history. You can do this through your state's Insurance Commissioner's
Office. Regardless of the company, you will want to ask certain questions. Some of the
questions to consider are:
- What is the rating and claim payment history of the company?
- Is the company in good standing with the better business bureau?
- What is the "Elimination Period"? This is the period of time from placement until the
policy actually starts paying. It may be immediate, thirty, sixty or more days. If you
opt for a long Elimination Period, you must be sure that you have supplemental
funds to carry you through until the policy pays.
- Will the policy cover Assisted Living and In-Home care as well as Nursing Home
placement? Many policies state that the policy will cover only skilled care such as
offered in Nursing Homes. Such policies may not cover certain home services or
Assisted Living.
- Does the policy have built-in inflation protection? The present cost of a facility may
double or triple by the time the policy is needed. You want to make sure that your
policy's benefits will provide for this inflation.
- What is the life span of the policy? Since the average stay in a Nursing Home is
around three years and longer in Assisted Living, you want to make sure that the
coverage will be adequate.
- Are there any physical or mental exclusions to the policy? Certain diagnosis such
as depression may or may not be covered. Many policies do not cover mental
disorders, alcoholism or drug addiction. If the individual has pre-existing illnesses,
you want to ask what the terms of the policy are with regard to these illnesses.
Long Term Care Insurance
Assisted Senior Placement
Services, Inc.
Services, Inc.
Long Term Care Insurance
| Assisted Senior Placement Services, Inc. Phone: 770-924-3253 Toll Free: 866-869-2777 E-mail: info@seniorplacement.com Copyright © 2008 Assisted Senior Placement Services, Inc. All rights reserved. |
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