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1.
Many insurance companies began selling long-term care insurance policies in _______.
The 1990s. Many companies jumped into the long-term care insurance business in the early 1990s.
2.
During the elimination period, long-term care costs are paid by _______.
The insured. Expenses during the waiting period must be paid by the insured.
3.
The three most important long-term care coverage variables are benefit amount, benefit period, and the alternate plan of care.
False. The three most important LTC coverage variables are benefit amount, benefit period, and elimination period.
4.
When estimating long-term care costs, you should use _______.
Actual costs today projected into the future when you are more likely to need the services. Estimate the possible cost of five years in a nursing home of your choice--not now, but late in life.
5.
Which of the six activities of daily living is sometimes omitted from the long-term care insurance benefit triggers?
Bathing. Some older policies use a list of five ADLs that does not include bathing.