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Long Term Care
  Long Term Care Insurance
What is LTC Insurance? Typically 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? Cognitive 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 continence.
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? Indemnity 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? Premiums 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 changes.
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.
Free Quote: To request a Free Quote refer to Quotes section.