Have you (or your parents) reached an age that you’re curious about long-term care insurance? You want to know what it is, how it helps you, and what exactly is involved in applying for and getting coverage?
Well, you’ve come to the right place.
Let’s first outline basic features of a long-term care insurance policy.
Now, let’s discuss these policy features in plain English:
Your benefits generally trigger when you can’t perform 2 of 6 activities of daily living (ADLs) listed below:
We hope this helped you get acquainted with some of the basics of long-term care insurance.
In our next installment, we’ll discuss pricing and alternative products to traditional long-term care insurance.
We do not provide legal or tax advice. Readers should consult their own legal or tax advisor. There is no guarantee investment strategies will be successful. Investing involves risks, including possible loss of principal. There is always the risk that an investor may lose money. A long-term investment approach cannot guarantee a profit. Investors should talk to their financial advisor prior to making any investment decision. This information is intended for educational purposes, and it is not to be construed as an offer, solicitation, recommendation, or endorsement of any particular security, products, or services.