Policies for long-term care insurance are created based on the following physical need or cognitive impairment of the client how much it pays in daily…

Try: Policies for long-term care insurance are created based on the following physical need or cognitive impairment of the client how much it pays in daily weekly monthly vs lifetime benefits where the policy holder currently resides where the policy holder will live in the future how much the policy holder is willing and able to pay policies will vary depending on the cost of care in a geographic area and the beginning and end dates of the policy other factors other factors include how much the policy holder is willing or able to pay out-of-pocket before the insurance begins to pay life expectancy medical advances during the lifetime of the policy often a waiting period may be required before funds are accessed a given policy for example might allow claimants to start collecting benefits on the day they begin receiving assistance whereas another policy might require a waiting period of anywhere from 30 to 120 days the waiting period often corresponds to the benefit period or the maximum amount of time the insurance company will pay benefits often the longer the waiting period before benefits begin the longer the insurance policy will pay for your care benefit periods benefit periods are typically three to five years and correspond to the lifetime benefit cap or the maximum dollars that will be paid by the insurance company on the policy information references "guide to legal and financial planning needs of seniors" by homewatch care givers available at www homewatchcaregivers com

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Categories: Sage, Topic, Financial, Legal, Medical Physical

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Keywords: Long term care health care insurance

*This information is listed as a Fact Sheet and is not explicitly medically licensed

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