About Long Term Care Insurance...
Long term care insurance pays a benefit when someone cannot take care of himself/herself. The benefit is used to pay for expenses related to skilled nursing care, intermediate care, or custodial care. Benefit payments are generally triggered when the insured becomes unable to perform two or more activities of daily living (ex: bathing, eating, toileting.)
Policies can be categorized as "indemnity" or "reimbursement." In general, we prefer, and recommend the indemnity model. Also, in our opinion, tax qualified policies are not necessarily better than non-tax qualified policies.
Please return to this space soon for more information.