by Joshua Morrison | Jul 25, 2017
The Elimination Period: Calendar Days or Service Days The Elimination period is the number of days an individual is responsible for self-funding a qualified long-term care event before benefits begin to be paid. It’s similar to a deductible but measured in days either...
by Joshua Morrison | Jun 6, 2017
Long-term care insurance benefits cover the cost of care up to a monthly maximum amount. The maximum is either the daily cost of care or the monthly cost of care. The difference impacts the insured’s out of pocket expenses. Case in point: Cost of Care...
by Joshua Morrison | May 31, 2017
Reimbursement is the standard way Tax Qualified policies pay for qualified long term care expenses. Some reimbursement contracts also offer a Cash Benefit (indemnity) choice in advance of care as a monthly lump sum. Case in point: A Reimbursement policy will...
by Joshua Morrison | Mar 27, 2017
The difference between a daily and monthly long-term care benefits may seem obvious, but how it affects the client’s wallet may not be as clear. A daily benefit pays up to the maximum benefit amount each day for covered services. A monthly benefit pays up to the...
by Joshua Morrison | Feb 14, 2017
Don’t let the cost of long-term care insurance dissuade you from talking to clients about this essential coverage. The two greatest financial fears of retirees are 1) being unprepared for health care costs in retirement and 2) outliving retirement income. Long-term...
