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There are certain standards you should look for when shopping for a long-term care insurance policy. The National Association of Insurance Commissioners has developed standards to protect consumers, but when shopping for a new policy look for one that includes: Coverage for Alzheimer’s disease and dementia A minimum of one [...]

Like any insurance policy, there are certain terms you are likely to hear or see used when your policy or benefits are explained. Understanding these terms will only help you navigate the waters of shopping for long-term care insurance. Ability to Renew: In today’s market, nearly all long-term care policies [...]

All insurance policies have a list of limits and exclusions. This is necessary to keep premiums affordable and protect the insurance companies, which ultimately are a business, and businesses need to make a profit to stay in business. The list of limits and exclusions for long-term care policies will vary [...]

Long-term care services are typically needed when a person cannot perform certain Activities of Daily Living, or ADLs, or becomes cognitively impaired due to Alzheimer’s or dementia. The most common ADLs that qualify a person for long-term care are: Self-Feeding Bathing Dressing Toileting Transferring (getting from bed to a chair) [...]

Elimination periods or deductible periods are terms you may hear tossed around when shopping for long-term care insurance. It’s important to understand what these terms mean, and how they could impact your future financial situation should you need long-term care. Elimination period is a term used to describe the number [...]

The cost of long-term care insurance varies greatly, depending upon your age, the type of insurance you choose, how long you are willing to wait before eligible for coverage, where you live, and whether or not you opt for inflation coverage. For example, let’s compare a policy that looks like [...]

Long-term care insurance is sold through private insurance companies. Each year, we see more insurance companies offering the polices, which is great news for those shopping for coverage. The first place most people look when wanting to add long-term care insurance to their planning is their place of employment. Typically, [...]

Alzheimer’s disease has a very slow, progressive nature. While this is a blessing in the early stages, it does mean that long-term care costs for Alzheimer’s patients are extremely expensive. On average, the cost for caring for an Alzheimer’s patient can be $200,000 or more. Realistically, few people can afford [...]