An elimination period (EP) in a long-term care insurance policy is the waiting period or number of days that you are considered “benefit eligible” and typically receiving care, but before you start to receive payment for services. Think of an…
You or a loved one made the wise decision to buy a long-term care insurance (LTCI) policy, great choice! Now what? When are you eligible to receive the benefits? Benefit Triggers LTCI policies have “benefit triggers” that will enable you…
The holidays are upon us which means you’ll likely be spending extra time with your loved ones. It will be tempting to keep it lighthearted and not talk about awkward or hard stuff. Most people want to avoid talking about…
Long-term care expenses aren’t a drop in the bucket. They continue to rise each year, so it’s important to consider how you’re going to pay for care when you need it. In 2021, in Columbus, OH, the median cost of…
Long-Term Care is the personal assistance you need throughout the day when your health is compromised to help maintain your quality of life. A need for long-term care (LTC) may result from an accident, illness, stroke, aging, or other chronic…
Not everyone should buy long-term care insurance. Wait, what, not everyone? That’s right, not everyone should buy it. Reasons to buy long-term care insurance First, there are many reasons to buy long-term care insurance.
Hybrid/asset based/linked benefit long-term care insurance These three names are often used interchangeably for the same type of long-term care insurance and can confuse people! So what does it mean? With this type of insurance, you are linking one benefit…
Traditional long term care (LTC) insurance policies are built as stand alone, pure risk based insurance. These policies pay benefits when you are in a qualifying long-term care situation and you need help with Activities of Daily Living (ADLs) or…
Long-term care costs rise each year and inevitably will continue to, so it’s important to understand how you can leverage your insurance and use the power of inflation protection. How does inflation protection work?
You may be able to self-fund your care costs, but why would you when you can transfer the risk to the insurance company? Here are 6 main reasons why long-term care insurance is valuable: