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What to Look for in a Long Term Care Insurance Policy
- “Outline of coverage" describing all
benefits, limitations, and exclusions
- A comprehensive guide of all plans available
provided by the company so that you can compare
policies and determine what meets your needs
best
- Guarantees that the LTCI plan will be there
for you when you need it most; the policy should
not be permitted to be canceled, non-renewed, or
terminated by the company at their discretion
because you are experiencing mental or physical
problems
- Ability to return the policy and receive a
premium refund; you should have 30 days to be
able to reconsider in what is called a “free
look” period
- Policy purchasers should not have to fulfill
preexisting conditions before being able to opt
for a plan (preconditions to look out for
include hospitalizations or care of any kind)
Source: Genworth Financial
Printable Version
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