Long Term Care Insurance Options
- Consider a 90 day waiting period for a lower premium
- Consider an inflation rider if you’re younger
- Make sure you get the spousal discount when both of you apply
- Make sure your policy is guaranteed renewable so that your policy will be
in force as long as you pay your premiums
- The waiver of premium rider will allow you to go into a hospital or care facility
and have your premiums paid
- Notifying of a third party will ensure your premiums get paid by notifying a
person along with your agent before your policy lapses
- Protecting against unintended lapses can be used within 6 months if you pay back
premiums and if non payment was from an impairment
- Benefit increase riders raise your benefit a predetermined amount
- Consider the survivorship rider so that if either you or your spouse dies, the
survivor’s policy will be paid in full
- The return of premium rider will refund all premiums paid (upon your death) to
your beneficiary or estate without interest
- Make sure cooking, cleaning and bathing services are included
- Get benefits during the early stages of impairment to provide for
shopping, cooking, housekeeping, laundry or transporting
- A supportive equipment benefit will help pay for ramps, pumps, grab bars etc.
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