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Benefits Beginner: Introduction to Buying Long-Term Care Insurance

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1.
An indemnity policy pays the full daily benefit _______.
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To the insured. The indemnity form of coverage pays the FULL daily benefit directly to an insured.
2.
Long-term care insurance is easy to purchase and budget for because it has so few variables to worry about.
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False. With LTC insurance, the many choices facing the consumer allow him to purchase something suited to his needs and budget.
3.
Many insurance companies began selling long-term care insurance policies in _______.
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The 1990s. Many companies jumped into the long-term care insurance business in the early 1990s.
4.
When estimating long-term care costs, you should use _______.
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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.
Benefits for home-based and community-based long-term care cover _______.
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A home health aide. The care provides benefits for services provided in the home or community outside a traditional care facility.