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1.
Which benefit option would you consider if you were concerned about having to surrender your long-term care policy after many years of premium payments?
Non-forfeiture-benefit. This option is intended to ease some policy buyers' worries about their ability to pay for long-term care (LTC) insurance in the future.
2.
Which of the following best describes the maximum daily benefit that a long-term care insurance policy provides?
The maximum the policy will pay for any day that you are eligible for benefits. The maximum daily benefit is the maximum the policy will pay for any day that you are eligible for benefits.
3.
Which of the following benefit extras would pay for professional services provided to give family members who ordinarily provide long-term care a break?
Respite care. The respite benefit covers the cost of professional care up to a limited number of days to relieve family members who ordinarily provide care.
4.
What is the biggest single factor affecting long-term care insurance premiums?
Age of policy applicant (insured). The age of the policy applicant is the biggest single factor in determining the premium quote he or she will be offered.
5.
Which type of long-term care policy pays maximum daily benefits regardless of the size of the claim?
Indemnity. Indemnity policies pay the full daily amount for each day regardless of actual expenses.