LONG TERM CARE EDUCATOR
Expert advice and information on Long Term Care
LONG TERM CARE POLICY DEFINITIONS 
Daily Benefit Amount - The amount paid by the policy everyday you need care.
Maximum Benefit Multiplier - The number of days or amount of time the policy pays for your care.
Elimination Period - A deductible measured in days instead of dollars. The number of days you must wait while receiving long term care services before the policy starts to pay.
Inflation Rider - Simple or Compound inflation coverage increasing your benefits by 5% per year. GPO inflation rider - Guarantees future increases in coverage with no underwriting.
Unlimited or Lifetime Benefit - Coverage for as long as needed. Not limited by a Maximum Benefit Multiplier.
COVERAGE OPTIONS
COMPREHENSIVE - Pays for long term care inclusive of all choices available. Includes Home Health Care, Assisted Living, Nursing Home, Residential and Community Care, Adult Day Care, etc.
FACILITY ONLY - Pays only for facility based care. Does not cover Home Health Care.
HOME HEALTH CARE ONLY - Pays for Home Health Care and Adult Care only. Does not pay for facility based care.
SELF FUNDING - With this option you pay 100% of your care out of pocket. This is a viable option for the very wealthy, only. The best way to determine if this applies to you is if you have $2 million dollars or more saved - you have enough to self fund.
MEDICAID - This is a Government program designed to cover those at poverty level. This applies to very low income and those who have spent their last penny paying out of pocket for care and have become destitute. This program generally limits the choice of care to Nursing Home. Ask your agent about Long Term Care Partnership Programs in your State.
LONG TERM CARE COVERAGE - You are in control and make all the decisions with this option. The risk of paying for care is transferred to the insurance company. You plan ahead for the coverage you want and design a plan that fits your individual needs.
