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| How Broad Should Your Plan of Coverage Be? |
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At the time you select your policy, we do not have a crystal ball to know
where we will end up receiving long term health care services (nursing
home , home care, adult day care…) It is comforting to know that your
policy will provide benefits in a variety of settings.
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| Levels and Settings of Care: |
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Policies should cover all levels of care - meaning both skilled and non
skilled (often referred to as custodial) care.
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| Benefit Period: |
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This is the length of time your policy would pay benefits. Benefit
periods can be two years, three years, four years, five years, six years,
and unlimited. Obviously, the longer the benefit period, the higher the
premium, but it is advisable to buy the longest benefit period you can
comfortably afford.
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| Elimination Period: |
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The elimination period is essentially your deductible for a long term
care policy. Typically, you would choose an elimination period between
0 - 180 days. The shorter the elimination period the higher the premium,
but keep in mind how much you can afford to pay for long term care
expenses out of your own pocket before your benefits kick in.
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The Companies Reliability |
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