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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.
You can check the financial strength of long-term care insurers on the Internet by going to all of the following except _______.
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Google. You can use the Internet to check the financial strength ratings of the insurance companies on your list according to three of the most widely used rating services: A.M. Best's financial strength ratings, Moody's Investor Service, and Fitch Investors' Service.
4.
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.
5.
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.