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1.
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.
2.
Cognitive impairment and physical infirmity are examples of _______.
Benefit triggers. Benefit triggers include cognitive impairment and physical infirmity.
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.
Which type of long-term care policy pays benefits at the beginning of the elimination (waiting) period?
Neither. The elimination or waiting period must expire before benefits are paid.
5.
In long-term care insurance, the term GUARANTEED RENEWABLE means _______.
The policy cannot be canceled or modified by the company as long as the premiums are paid. As long as the insured pays the premium on time, the insurance company must maintain the policy in force without any change in coverage unless the insured agrees.