Long Term Care Policy Checklist

Long term care insurance has been touted as one viable option to pay for long term care costs. But with so many policies to choose from, it has become more difficult to be sure that you're selecting a policy that's best for you. Because all policies are not the same, it is critical to be as educated as possible about how to obtain the coverage that best fits your individual needs. This checklist provides you with a good roadmap for asking the right questions about this product.

  • What services are covered?
  • How much does the policy pay per day?
  • How long will the benefits last?
  • Does the policy have a maximum lifetime benefit?
  • Is there a maximum length of coverage for each period of confinement?
  • How long must I wait before preexisting conditions are covered?
  • How many days must I wait before benefits begin?
  • Does this policy have any special requirements?
  • Is the policy guaranteed to be renewable?
  • What is the age range for enrollment?
  • Is there a waiver of premium provision?
  • Does the policy offer an inflation adjustment feature?
  • What does the policy cost?
  • What is the A.M. Best rating for the company?

For more information about managing the challenges of eldercare, contact Dr. Jim McCabe: (650) 383-5221.