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LONG TERM CARE INSURANCE
Review Items
...Among the many important points to consider when evaluating various LTCi plans, you should also examine:
- Insurance carrier’s long term commitment to LTCi industry & corporate philosophy toward continued LTCi growth
- Insurance carrier maintains majority financial interest in all reinsurance agreements
- Premium rate stability
- Bathing as ADL benefit trigger
- Assessment by independent health care professional
- Hiring self employed home care workers
- Three levels of human assistance
- Custodial care includes homemaker services
- Compound inflation benefit without reduction for claims paid
- Once-in-a-lifetime elimination period
- Elimination period counts calendar days or credits one day of home care per week towards seven days of elimination
- Independent care coordination
- No reduction of benefits through UCR/Prevailing Expense Model
- Carrier allows policyholder to maintain original policy discounts
A complete checklist from NAIC is available for printing or download by clicking:
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