Long Term Care
Things to consider regarding long term care:
- What is your anticipated cost? (We can show you the average cost of care in your area.)
- How much can you contribute to the cost of your care apart from the policy?
- How much will you need in monthly benefits?
- How long do you think you will need long-term care services?
- How long can you wait before receiving benefits?
Benefit Period - The maximum number of months your policy will pay. Options include:
- 24, 36, 48 or 60 months
Monthly Benefit Amount - Initial maximum dollar amount payable each month from $1,500 to $10,000
Policy Limit - Monthly Benefit Amount X Benefit Period (months)
Elimination Period - Waiting period before benefits begiin. Depending on policy chosen options include:
- 0, 30, 60, 90, 180 or 365 calendar days
Cash Benefit - If you elect to receive policy benfits in cash, there's no elimination period to satisfy. Your cash benefits equal:
- 30 or 40 percent of the policy's home health care benefit (dependent on policy)
Home Health Care - Including:
- Personal care services to assist with the activities of daily living
- Homemaker services to help with grocery shopping, meal preparation and housekeeping
- Professional services of a registered nurse, home health aide or therapist
- Adult day care services
Facility Care - Assisted living and nursing home care
Care Coordinator - a licensed health care professional who will assess your needs, develope an individualized plan and help you arrange for long-term care services. No elimination period for this service.
Respite Care - Provides a temporary replacement to give an unpaid caregiver up to one month off per calendar year.
Hospice Care - Hospice care in any setting if you are terminally ill and not expected to live beyond six months.
International Benefit - up to 12 months of care received
Waiver of premium - while received covered services at least 8 days in a month.
Alternate Care - reccommended by your care coordinator
Inflation Protection - Increases your monthly benefit each year
Shared Care - If you run out of benefits, access your partner's benefits leaving at least one year for your partner. If either partner dies while both policies are in force, survivor receives remaining policy limit.
Security Benefit - Helps ensure that your uninsured partner is cared for while you are receiving long term care services by paying for care or living expenses, up to an additional 60 percent of your monthly reimbursement expense.
Waiver of Elimination Period for Home Health Care
Reduced Benefit for Home Health Care and/or Assisted Living Facility - Reduce cost by reducing your benefit for home health care. Options are:
- 50 percent or 75 percent of the maximum monthly benefit
Return of Premium Three Times Monthly Maximum - Refunds up to 3 times initial monthly benefit amount if your policy has been in force at least 10 years or more.
Non-Forfeiture Shortened Benefit Period - If premiums are stopped after your policy has been in force for three years, coverage continues on a reduced basis.
* Some products or riders may not be available in all states. Terms and conditions may apply. Optional benefits provided by rider(s)(an addition to your policy).