Long Term Care Insurance pays when certain triggers are met, indicating that the insured person cannot care for themselves without assistance. These triggers are the inability to pay for two or more ADL's (activities of daily living such as bathing or dressing) and cognitive impairment. In tax qualified plans, the insured person must show evidence that they will need long term care for over 90 days.
The benefit is actually paid after the days of the elimination period have passed.
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The benefit is actually paid after the days of the elimination period have passed.