What kinds of care does the policy cover?
Ideally, it should let you receive home health care, as well as skilled, intermediate, and custodial nursing home care. Happily, most people only need home-based care, so they can remain in an environment where they feel comfortable. What is the policy’s waiting period? The insurer should not require a wait of longer than three months. How are benefits paid to me? Either you submit actual expenses for reimbursement, or the insurer sends you the amount directly. Is there a preexisting condition clause? Don’t buy a policy with this. Is there inflation protection on the policy? You may not need LTCI for years. Be sure that your benefits will keep up with inflation. Must I be hospitalized in order to be eligible for benefits? Don’t buy a policy that requires a hospital stay. If you only require home care, then you would have to pay out-of-pocket. What conditions trigger benefit payments? The policy should cover cognitive disabilities, like Alzheimer’s. It should be triggered if you can’t p
