Long Term Care

LTC- Q's & A's:

Who needs Long term care?
Anyone who is going to live past 60 years of age.

What primarily does it cover?
Nursing Home Room & Board and other associated expenses.

Doesn't Medicare cover Nursing Home expenses?
No, Medicare only covers Medical expenses.

What else does the policy cover?
Assisted Living Costs and Home Health Care along with Adult Day Care. (For additional benefits see the Benefit Provision Page.)

Does the plan offer a discount if a husband and wife purchase policies together?
Yes, each person gets a 10% discount.

If I go into a nursing home how long will it take for the policy to pay benefits?
Either "0" days or 100 days depending on which option you purchase.

Why is it important to purchase a Long Term Care insurance policy from a "AAA" rated insurance company?
A "AAA" rating is the highest available ratings from both Moody's and Standard & Poor's. This gives you an extra layer of security concerning the financial strength of the insurance company. There are only six insurance companies in the world that hold "AAA" ratings from both Moody's and S&P.

IN ORDER TO PROVIDE YOU WITH A LONG TERM CARE QUOTE, WE WILL NEED THE FOLLOWING INFORMATION.

Name:

Gender:

Smoker: Yes No

When is your Birthday?
Month: Day: Year:
Marital Status: Single Married Divorced
Would you like a quote on your spouse? Yes No
Spouse Name:
Spouses Birthday:
Month: Day: Year:

Does your spouse use tobacco? Yes No
Email Address:
Home Phone Number:

Work Number:
Fax Number:
Address:
City, State, Zip:
How much of a Daily Benefit do you wish to apply for?

(You should have at least 70% of the daily charges in your immediate area). Costs range from $165 - $220 per day in many areas.
How long do you want the benefits to be paid for?

The key is at least 3 years of coverage due to the Medicaid Law. If you are going to use a Trust, then you need at least a 5 year benefit in order to get around the "Criminal Penalties" that are now imposed under the Health Insurance Portability Act which went into law on 1/1/97.
Do you want Home Care included? Yes No
If so, How much?
It is recommended to purchase at least 50% of the amount of Nursing Home coverage that you choose to elect. Home Care may be helped with ADL' s (activities of daily living, such as: eating, dressing, in and out of bed, toileting, taking medications, etc). This coverage is important for those who wish to receive custodial care at home.
Would you like Inflation Guard benefits?
Yes No
Very important to have. You want to make sure that the coverage you apply for today will increase in benefits as the cost of care most certainly will. Without the inflation guard your benefits will be eroded by inflation and your asset base would again be subject to the "spend down" regulations.

If you would be so kind....
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