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Benefits Beginner: Introduction to Buying Long-Term Care Insurance

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1.
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.
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.
When pricing long-term care insurance, your budget is important in _______.
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Avoiding a lapse due to failure to pay premiums. If you do not budget properly, premiums could become a hardship or even impossible to pay, resulting in a policy lapse.
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.
During the elimination period, long-term care costs are paid by _______.
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The insured. Expenses during the waiting period must be paid by the insured.