Six Things You Need To Know About Ltci And The Indemnity Long Term Care Insurance Payment

Posted by on April 13, 2012 | No Comments

When you get an indemnity long term care insurance quote it’s important to grasp a few things first. This is a good policy for you if you are on a limited budget. Here are 6 crucial things you must know about this kind of policy and the payment you may have.

1. An indemnity long term care insurance policy has a fixed amount of benefits. There is a cap on this. Unlike an inflation policy this amount will cap out at a certain amount.

2. The long term care insurance cost for the standard payment is always the same. If you are on a fixed budget and you cannot afford a changing or skyrocketing standard payment you possibly will get advantages from this type of plan. Your payment will remain the same irrespective of the type of cost which has occurred.

3. An expense incurred plan reimburses you the quantity of money you’ve got to pay for care up to the benefit amount you have paid into. For example, if your benefit amount is $300 a day for long-term care and you want someone to help two times a week at $100 a day you’ll be paid the full $300 amount. Many plans will leave the money in your account or your pool of benefits available for you. Some will cut you a check.

4. An indemnity plan will only pay the long run care insurance cost only if a medical cost was incurred also. If there’s no medical cost then the benefit amount will not be paid to you.

5. An indemnity standard payment is what you want it to be because you have the ability to select the quantity of benefits you want to have per day, month, week, etc . When you get a long term care insurance quote you can specify the amount of benefit when you get the policy. Many of us base this on their earnings and what they can afford to put into their long-term care.

6. As you can with other long-term care policies you can share an indemnity policy with your other half. You can pay a monthly payment into the policy and use it accordingly if either of you need to need any type of long-term care.

An indemnity long term care insurance quote looks much nicer to people than an inflation quote because the payment is the same through the life of the policy or you.

Before you go out and buy a policy go to LTC Financial Solutions, ask questions and request a long term care insurance. We represent 20 of the top LTCi providers. This gives you tremendous options.

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