subject: Four Areas of Concern For Long-Term Care Insurance in South Hill [print this page] Four Areas of Concern For Long-Term Care Insurance in South Hill
Long Term Care Insurance is the type of care received either at home or in a facility, when someone needs assistance with activities of daily living, such as bathing and dressing due to an accident, an illness or advancing age.
A long term care insurance policy pays you a daily benefit to cover the cost of long term care. Long term care is ongoing care for people with chronic disabilities. It includes custodial care -- assistance with activities of daily life like eating, bathing and getting dressed -- in a nursing home, an assisted living facility or in the patient's own home. The following four issues discuss areas you should consider before you purchase Long Term Care Insurance.
Good Benefit Triggers
Benefit triggers are what cause benefits to start being paid. Your policy benefits should be triggered if you need assistance to perform at least two of the activities of daily living (ADLs), which include bathing, dressing, eating, toileting, continence, transferring (moving from a bed to a chair) and taking medication. Another trigger should be "cognitive impairment," which means coverage applies if you are mentally impaired (with Alzheimer's disease for example) even if you're physically able to take care of yourself.
Home Health Care Coverage
You will want to make sure your policy pays benefits for care at home as well as in an institution such as an assisted living care facility or a nursing home.
Guaranteed Renewable
This feature ensures that you will be able to continue your coverage without undergoing additional medical exams.
Inflation Riders
An inflation rider will increase the benefit amount by either a simple or compound inflation rate each year the policy is in effect. This can be a costly feature, but it is protection against the rising cost of long term care. It provides that the policy is much more likely to pay an adequate benefit in the future.
For over 60 years Southside Insurers has been an independent insurance agency serving Southside Virginia and Lake Gaston. We are located in South Hill, Virginia and have a close relationship with many neighboring towns. Our agency recommends and provideslong term care insuranceand services to our clients that will best meet their personal and business needs.
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