Important Consideration When Choosing a Long Term Care Plan: Ratings
When you consider purchasing long term care insurance, you should take into account the financial ratings of the company. A Superior plan of care will have an A.M. Best rating of an A+ or higher. Below is a breakdown of the level of plan based on their A.M. Best rate. [...]
Riders: Shared Benefits and Survivorship
When looking at long term care insurance plans, you can choose to add riders to your plan in order to have additional benefits that are not covered under a normal plan. These riders will add to your premium cost, but allow you to tailor your plan to better suit your [...]
Riders: Return of Premium and Waiver of Premium
Return of Premium is a rider that can be added to your insurance plan for peace of mind. If the insured passes away having never filed a claim, the premiums that were paid for the plan or a portion of the premiums paid will be returned to the surviving heirs. [...]
Riders: Shared Benefits and Survivorship
When looking at long term care insurance plans, you can choose to add riders to your plan in order to have additional benefits that are not covered under a normal plan. These riders will add to your premium cost, but allow you to tailor your plan to better suit your [...]
Caregiver Training
Your long term insurance plan will usually pay for caregiver training if you are planning on having a family member or friend being a primary caregiver. They will need to learn how to do basic tasks in a safe manner in order to prevent injury to both the patient and [...]
Long Term Care Benefits
Home Care and Community Care Benefits Services provided by home health agencies are referred to as Home Care and Community Care Benefits. This can include a Registered Nurse, Licensed Practical Nurse, Physical Therapist, Occupational Therapist, Nurse’s Aide, non-medical homemaker services, at home hospice care and adult day care. Some insurance [...]
Care Coordination Benefits
Registered Nurses and Licensed Social Workers have experience in coordinating care for seniors, including home health care. Because they are local, they are able to better help families find the care their loved ones requires. Some insurance plans will offer this service as a benefit to the insured. This service [...]
Health Care Inflation Protection
Healthcare costs are not immune to inflation. On average, the cost of health care can rise annually anywhere from 4% to 7%. It is important when purchasing long term care insurance to build in protection to your benefits for the daily, weekly or monthly maximum benefits. There are usually three [...]