15 Long-Term Care Insurance Inquiry Questions
What types of care are provided? (Skilled nursing care, intermediate care, and custodial care.) Home health care) How much will each level of service cost?
Is there a waiting period before receiving benefits?
How long will the policy provide coverage?
Is there an insurance benefit cap?
Will benefits rise in line with inflation?
Are pre-existing conditions covered? If so, how long will you have to wait?
Are there any eligibility criteria in the policy?
Is it necessary to be hospitalized before receiving skilled nursing home benefits?
Need for expert nursing care before paying for custodial care?
Do you need to have prior coverage in a custodial care facility or a hospital to receive home health care?
Only at a Medicare-certified institution will you be covered?
Is Alzheimer’s or another form of dementia expressly covered?
Is it possible for the insurer to cancel the policy?
Is it possible for the premium to rise throughout the policy?
Is there a premium waiver provision in the policy?
Is the insurer rated A+ or A by Best’s Insurance Reports or other insurance rating agencies?
Is the insurer knowledgeable about health insurance claims?
Is the policy guaranteed to be renewed?