||Long Term Care Insurance
|What is LTC Insurance?
policies pay benfits when an Insured can no longer care for
himself/herself and requires assistance to perform routine Activities
of Daily Living (ADLs).
|What Conditions Trigger Benfits?
impairment, such as Alzheimer's disease or other dementia, as well as
when the Insured requires assistance to perform 2 or more ADLs, such as
bathing, eating, dressing, toileting, transferring, bladder and bowel
|Where are Care Services Provided?
||Care is provided in a Facility or in the Insured's own Home or both.
|What Type of Plans are Available?
or Reimbursement plans. An Indemnity plan pays a daily benfit, once the
requirements of the policy are satisfied. A Reimbursement plan, upon
satisfying requirements, will reimburse covered expenses to a maximum
outlined in the policy.
|How Long Do Benefits Continue?
||Benefits payments periods can be 1, 2, 5 years or unlimited (lifetime).
|Are Premiums Guaranteed?
are not Guaranteed, however they will only be increased on a class
basis. They will not increase due to any individual's age or health
|Are There Limitation on Renewing?
||Almost all policies are guaranteed renewable and cannot be cancelled.
|What is the Purchasing Period?
||Generally from ages 20 to 80 for individual policies and 20 to 75 for Group plans.
|How's the Premium Experience?
||LTC insurance is relatively new in Canada and doesn't have a significant track record.
In the United States where LTC has been evolving for over 3 decades,
individual policies from some carriers, have experienced very
significant increases. The only exceptions have been two large group
plans that haven't raised permiums in over 15 years.
|Free Report for more details:
||Refer to Free Report section to request a Free Report on Long Term Care.
||To request a Free Quote refer to Quotes section.