10-Questions to Ask Before Buying Long-term Care Insurance
Posted by Alerts For Consumers at Mon, 23 Jul 2007 11:33:00 GMT and is filed under Mortgage and Real Estate,Consumer Information 
Categories: Long term care, long term insurance, nursing home, assisted living
Long term insurance policies come with many exclusions. Whether it’s a common medical ailment or a specific type of health facility, these benefit plans have many restrictions. Prior to making a long term insurance policy investment, ask the following questions:
1. Which chronic medical conditions/disabilities are covered?
2. Are degenerative illnesses such as Alzheimer's, Parkinson’s and dementia covered? What care is included?
3. Are certain medical facilities or settings (i.e. assisted living) restricted?
4. How much will the premiums increase over time?
5. What is the policy’s maximum benefit amount?
6. What is the daily covered minimum?
7. Is a non-forfeiture benefit included with the policy?
8. What is the financial history and stability of the insurance provider?
9. How many days is the elimination period (the span of time, the insured must pay out-of-pocket).
10. Does the policy have inflation guard?
With the tax benefits of Health Savings (HSA) plans, a long term insurance policy maybe futile. Review more consumer information and news on buying long term insurance.
By Holly Bentz (c) 2007 fruitionMedia
All of the features that you mention are available with just about every long term care policy as options. Long term care insurance policies today offer lots of choices. Having lots of choices means that someone purchasing long term care insurance needs to take a little time to educate themselves about the different choices that are available in the policies they are considering.
Long term care insurance is a very important purchase. It's important to choose the benefits that are right for you.
Scott A. Olson, CLTC
www.LTCInsuranceShopper.com
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