Long Term Care FAQ

Long-Term Care Insurance Explained

(Everything you need to know - and more)

Table of Contents

Q. How much does long-term care Insurance cost per month?
Q. Does long-term care cover assisted living?
Q. What does gross long-term care premiums mean?
Q. Who offers long-term care insurance?
Q. Can someone with Parkinson's get long-term care insurance?
Q. Does long-term care insurance cover Alzheimers?
Q. Why should I buy long-term care insurance?
Q. How do I qualify for long-term care benefits?
Q. How do I plan for long-term care?
Q. How do I shop for long-term care insurance?
Q. Is assisted living considered long-term care?
Q. What's the best long-term care insurance company?
Q. Do long-term care insurance premiums ever increase?
Q. Does long-term care insurance cover home health care?
Q. How do I pay for long-term care costs?
Q. Can I buy long-term care insurance for my parents?
Q. What happens if you cancel your long-term care insurance?
Q. Does Medicare cover long-term care?
Q. What is a long-term care facility?

Q. How much does long-term care Insurance cost per month?

A. Long-term care insurance cost varies. The pricing depends on a number of factors among them being age, health, and plan benefit selections. To find out exact costs as they pertain to you and your specific needs, contact your local independent insurance agent. 

Q. Does long-term care cover assisted living?

A. Like any other insurance policy, the coverage depends on plan selections made by you as the insured. However, there is often an option for most long-term care insurance policies to cover the cost of assisted living care. Check with your local independent insurance agent for specifics related to you and your long-term care policy.

Q. What does gross long-term care premiums mean?

A. Gross long-term care insurance premiums are the total amount that you paid for your long-term care insurance. Most premiums are tax-deductible. Check with your local independent insurance agent for gross long-term insurance premium specifics and how they are applicable to you.

Q. Who offers long-term care insurance?

A. Your local independent insurance agent has a number of insurance companies that offer long-term care insurance solutions. Your independent insurance agent is the best resource when it comes to insurance company offerings and prices to fit your budget. Contact your local independent insurance agent today. 

Q. Can someone with Parkinson's get long-term care insurance?

A. Some long-term care insurance plans offer coverage even if you already have Parkinson's disease. This is entirely dependent on the insurance companies underwriting process and risk tolerance. Speak with your local independent insurance agent on specific plan options.

Q. Does long-term care insurance cover Alzheimers?

A. Yes, most plans cover Alzheimer's facility expenses and care should you need it. Be sure to select this as one of your long-term care benefit options. Speak with your local independent insurance agent for more details.

Q. Why should I buy long-term care insurance?

A. The best reason to buy long-term care insurance is to pay for your long-term care expenses should you need them. This will allow you the option to keep your retirement savings rather than dwindling them away on long-term care expenses. 

Contact your local independent insurance agent for plan and policy specifics.

Q. How do I qualify for long-term care benefits?

A. Each insurance company has certain qualifications and underwriting guidelines that must be met in order to obtain a long-term care insurance policy. Contact your local independent insurance agent for your long-term care policy benefit options and determine which plan is right for you. 

Q. How do I plan for long-term care?

A. One of the best ways to plan for your long-term care is to be proactive. Part of being proactive is purchasing a long-term care insurance policy through your independent insurance agent. A long-term care insurance policy was made for long-term care and can cover a variety of expenses. Speak with your local long-term care insurance agent today.

Q. How do I shop for long-term care insurance?

A. The best way to shop for your long-term care insurance is through your local independent insurance agent. Your local independent insurance agent has a variety of insurance companies that they work with. This gives you a number of policy coverage and pricing options. Check with your local independent insurance agent today. 

Q. Is assisted living considered long-term care?

A. On most long-term care insurance policies there is an option for assisted living care coverage. In this respect, it is an offered benefit and considered long-term care. Speak with your local independent insurance agent for policy options that best suit your long-term care needs.

Q. What's the best long-term care insurance company?

A. The best long-term care insurance company is dependent on what type of coverage you need and who will accept you. There are a number of different long-term care insurance companies all with different coverage products and a variety of pricing. Working with your local independent insurance agent on insurance carrier offerings is the best route.

Q. Do long-term care insurance premiums ever increase?

A. Yes. The state has to allow for this increase and it has to be requested by the insurance companies. The state does allow increases to happen if there is a need for more reserve in order for the insurance companies to continue paying out claims. 

Speak with your local independent insurance agent on your long-term care policy premiums.

Q. Does long-term care insurance cover home health care?

A. Most long-term care insurance policies will have coverage for home health care. This is dependent on what benefits you and your independent insurance agent select. Speak with your local independent insurance agent on your long-term care benefits today.

Q. How do I pay for long-term care costs?

A. You can pay for your long-term care insurance usually on a monthly, quarterly, semi-annual or annual basis. This is dependent on the payment plans your insurance company offers. 

There are some plans where you can pay for the premium all up front and have the option to get that paid-in-full-premium back should you ever need it. Discuss your long-term care insurance options with your local independent insurance agent for plan specifics.

Q. Can I buy long-term care insurance for my parents?

A. Yes. You can buy long-term care insurance for your parents. Your parents will still have to go through the application process with the insurance company and be rated on their health risk factors and age. 

Your parents will also have to consent to have this process done. Contact your local independent insurance agent for more details on this matter.

Q. What happens if you cancel your long-term care insurance?

A. Like most insurance policies, if you stop paying your insurance premiums your policy will cancel. Your long-term care insurance is no exception. Long-term care insurance can be cancelled and your benefits will simply stop once your policy is cancelled. 

However, it may be harder to obtain coverage in the future if you cancel your long-term care insurance due to age and health risk factors. Contact your local independent insurance agent for more details. 

Q. Does Medicare cover long-term care?

A. Medicare does not cover any type of long-term care such as nursing home care, assisted living care, and more. Medicare will only cover short-term care and short-term assisted living care. Discuss your options with your local independent insurance agent and be in the know.

Q. What is a long-term care facility?

A. A long-term care facility is covered under your long-term care insurance policy. What qualifies as a long-term care facility is dependent on what coverage and policy you selected for your long-term care. 

Each policy and insurance company has different benefits to select. Speak with you your local independent insurance agent for your long-term care plan specifics.

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TrustedChoice.com Article | Reviewed by Paul Martin

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