Well Thought Out Solutions

Long Term Care Insurance Features

Here's What You Need To Know!

What Features of Long-Term Care Policies Should I Focus On?

Designing a long term care insurance plan

The long term care benefits you receive depend on the plan you select.

Of course the cost of your coverage varies depending on the plan you choose.

Meeting, Consultation

When you buy long term care insurance, you'll want to consider the following:

  • The benefit amount - this is the amount the policy pays each day
  • The elimination period - this is the period of time you have to wait before you receive benefits
  • The benefit period - this is the length of time that you will receive benefits
  • Inflation protection rider - this rider automatically increases your daily benefit amount each year
  • Optional riders

How Much Coverage Do You Need?

Typically the benefit amount offered is $100-$500/Day or $3000-$15,000/Month
And you can choose different amounts for care in a facility or care in your own home.

These calculations are where most people totally miss the boat and get it wrong.
The reason for that is most advisors who offer LTCI really don’t know the right answers themselves.

Call for your consultation and the 1 minute explanation so you get it right.

Click here for your consultation 

What Else Do I Need to Know!

Additional about the amount: Options can be designed to meet different needs and expectations.


This standard option enables you to receive reimbursement for qualified long term care service expenses up to your maximum daily benefit.

This option enables you to receive reimbursement for qualified long term care service allocated on a monthly  maximum amount you selected.

Under this option, each month you will be paid Cash equal to maximum amount you selected. 

This is not the place to make a mistake

Benefit Period

This is defined as the amount of time you wish to receive a Benefit Amount. This period can range from two years to an unlimited amount of time.

Inflation Options

Inflation protection is an important feature of any long term care plan.

As described above choosing the right option is critical.

Elimination Period/Deductable

Elimination Period is the long term care insurance equivalent of a deductible - just like on your car or health care insurance. It represents a possible "out-of-pocket" expense but unlike other deductibles, it is based on a number of days not a particular dollar amount. That is, it is the length of time you are willing to wait before becoming eligible to claim against your policy. Generally, selecting a longer Elimination Period, like choosing a larger deductible, will result in lower premiums.

Elimination Period - Calender Day

With this option, you are not required to receive services for a day to qualify. Days begin to count from the date your chronic illness or disability begins. Each day will count towards satisfying the Elimination Period you select whether or not a qualified long term care service is used.

Elimination Period - Service Day

You can select an Elimination Period of 0, 30, 60, 90, 180,365 days. A service day is a day when qualified long term care services are received.

Emerging Trends/Alternate Plan of Care

(Important, not included in all policies)

As the need for Long Term Care has grown, so have the number and types of services available to meet that need. Thirty years ago, nursing homes dominated the Long Term Care industry and home health care was scarce. ten years ago, nursing homes were still the usual care setting, but home care and choices for care in the community had grown tremendously. Today, assisted living/residential care facilities are again changing the way Long Term Care is delivered. Tomorrow there may be other services.


Private Care Consultant

Personal assistance, provided under the Private Care Consultant Benefit involves supporting policyholders and their families on a level that goes beyond direct provision of care. They provide practical support for your emotional needs and the needs of your family. Assistance may include counseling, education and personal oversight of carequality. Your Private CareConsultant is retained solely by you and is not affiliated with the insurance companies.

Ask us which company provides the most extensive amount of this very important benefit

Do I Have To Pay Premiums Once I Go On Claim?

After you have satisfied your Elimination Period, the Waiver of Premium feature means that premiums will be waived. Some companies do it better.

Bed Reservation Benefit

If you are in a long-term care facility and for any reason you must leave for a temporary period (up to 60 days per year), and there is a charge to hold your bed, the Bed Reservation benefit will cover this expense up to the stated policy limits. This means that the facility can hold your bed for you until you return.

What If I Want Care When I Am Outside of the Country?

The world has become a smaller place. To meet the needs of diverse and geographically dispersed families, several companies wil provide benefit outside the United States.

Restoration of Benefits

What happens to my checkbook if I begin receiving benefits but then recover?

With the Restoration of Benefits feature, if you received benefits under your plan and later recover to the point that you have no more than one deficiency in your Activities of Daily Living (commonly referred to as ADLs) for at least six consecutive months, your full Checkbook Maximum Benefit will be restored. Not offered from all companies.

How Will Know When I Qualify For Benefits?

To be eligible for benefits, you must be certified by a licensed health care practitioner as having a chronic illness or disability. This is defined as a loss of the ability to perform (without substantial assistance) at least two ADLs, due to a loss of functional capacity.

These are bathing, continence, dressing, eating, toileting and transferring. This loss must be expected to last at least 90 consecutive days. A Severe Cognitive Impairment which requires supervision to protect your health and safety can also be considered a chronic illness or disability. After your Chronic Illness or Disability is certified, a Plan of Care must be developed consistent with your needs. This is the federally mandated language for tax qualified plan. 

Find out who we prefer.

That being said we feel our preferred carriers seem to treat our clients just a bit better.

Are Any Discounts Available?

Partner Discount 15-40%

We currently work with over 300 national groups and can directly offer those group discounts.

Please see if I qualify for  those groups.


Premium Payment Options

Lifetime Premium payments are made until your benefit is needed.

10 Year Paid Up  Premium payments are accelerated so that your policy will be paid up after 10 years.

Paid Up At Age 65  Premium payments are accelerated so that your policy will be paid up when you reach age 65.

Premium Reduction At Age 65  Premium payments are paid until age 65,at which time the premiums will be reduced.

Shared Care Benefits

If you and your spouse or partner have identical plans, and if one exhausts their benefits, then that individual may access the benefits of the other. Slight variations from company to company.

Return of Premium 

With this option, regardless of age, upon death, a refund for the total amount of the premiums will be paid. Slight variations from company to company.

Survivor Waiver of Premiums

With this benefit,  if no claims were made against either policy, one party dies, the survivor’s premium will be permanently waived. Slight variations from company to company.

Joint Waiver of Premium

If both you and your spouse or partner have a plan and one of you qualifies for Waiver of Premium, the other’s premium will be waived as well.

Non-Forfeiture Benefit

If after being in force for at least three years, your policy ends due to non-payment of premiums for any reason, your coverage may be extended. While this benefit varies by state, in general the Rider will provide coverage  equal to 30 times your current benefit or your total premiums paid minus any claims paid, whichever is greater. Slight variations from company to company.

Several Points To Ponder:

The government isn't going to pay for long term care at home, in a nursing home, or in an assisted living center.

Medicare pays 100% of long term care for 20 days and all but a deductible for the next 80 days—after that nothing. Medicare is designed to pay for skilled care and most part long term care is not skilled care.

At age 65, a woman has a 1 out of 2 chance of spending time in a nursing home. A man has a 1 out of 3 chance.

Medicaid kicks in only after a person's assets and dignity are gone. In many states the eligibility threshold for single people is $2,500 in assets. After all, Medicaid is WELFARE.

Children would like to help, but children often have kids of their own. They certainly can't quit their jobs to care for their parents.

Health rarely improves with age. Buying early not only locks in rates which you could not receive at a later date, but ensures you are covered. You can't buy long term care coverage at crisis time. 

American's have access to the best health care in the world, if they can pay for it.

Most people want to choose where they go instead of having to go where they are taken, and if independence is important then you need to think ahead.

Take the next step and put your worries to rest—today.

Please set up my consultation Click Here

A Harvard University study showed that 69% of single people and 34% of married couples would exhaust their assets after 13 weeks in a nursing home. 13 Weeks = 91 days!


With improved longevity there is in all likelihood a growing need for long-term care services by aging baby boomers in the next few decades. The costs will be immense. It is unlikely that our society can meet that demand, given the present mix of long-term care funding, which relies primarily on the use of out-of-pocket resources or if no personal funds  are available  public welfare. Because insurance is the best method to protect against this type of risk the best solution would be to start as early as possible when the total costs would be the least out of pocket overall 

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