What Does Long Term Health Care Insurance Cover?

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   David RacichPRO

   Fountain Hills, Arizona

   Long term care insurance covers periods of assisted living at home and convalescent care in a nursing facility. The are two types of long term care insurance policies: indemnity and reimbursement. If elected, many long term care insurance policies also offer inflation riders as well to mitigate the rising cost of care.

   Answered on July 19, 2013

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   There are a wide range of Long Term Care insurance policies. 95% of the policies written are qualified plans, which mean that they have a specific trigger for the start of benefits and that is the loss of two essential capabilities as defined in the policy. The benefits vary a great deal but generally provide assistance when a person is in need of custodial care.

   Answered on December 26, 2014

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