Selecting a Long-Term Care Policy

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Here are some questions to ask before you buy.

What type of care is covered? ___________________________________________ Is there a minimum or maximum age for purchasing a policy? _________________ Is prior hospitalization required? _________________________________________ Are home-care and community services covered? ___________________________ Is there a waiver of premiums in specified circumstances? ____________________ Under what conditions can the company cancel the policy or change the premiums? ____________________________________________________________________ What is the company’s reputation and rating? ______________________________ (Standard & Poor’s and A.M. Best provide financial ratings and analysis.) These reports can be found in most libraries or on their Web sites. Is a health screening required? __________________________________________ What qualifications must be satisfied in order to be eligible for benefits? ____________________________________________________________________ Will benefits be paid outside of the United States? __________________________ Is coverage available for mental disorders including Alzheimer’s disease and dementia? ___________________________________________________________ Are there specific exclusions? If so, what are the exclusions? ____________________________________________________________________

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