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  • Standard Coverage for LTC Insurance

    Wednesday, July 27, 2011

    As you learn more about LTC insurance, you might have noticed the disclaimer stating that no policy, regardless of how legitimate or comprehensive it might be, actually covers all of the costs associated with care in an assisted living facility or for ongoing treatment in your home. Although this is certainly the case, understanding what is usually considered to be standard coverage for this insurance is also going to be helpful—especially if you are still in the initial stages of deciding whether or not the purchase of such an insurance policy is even going to be a good idea. Consider some of the standard care provisions, how they might relate to your situation, and whether or not you are prepared to cover these expenses on your own in the event that you opt to forego the long-term insurance coverage altogether.

    By definition, protective life insurance extended care benefits can be used when a person can no longer perform usual “activities of daily living.” Usually, these activities involve things such as dressing, bathing, transferring (getting out of bed and into a sitting position), eating, and continence.

    Or, the insurance quotes comparison could be on account of a need for coverage related to senile dementia or Alzheimer’s disease. Remember that these ailments are typically influenced by your family history; therefore, a close assessment of your medical records might be a good place to start if you are trying to make an educated guess about whether or not you are going to need these services at all.

    The policies on the market today provide coverage for skilled, intermediate and custodial care in nursing homes. Usually, this type of care also covers work done by homemakers or physical therapists. Although some patients require assisted living for the rest of their lives, others are able to recover and lead fully independent lives if they have the right assistance during their crucial steps back to health.

    Another type of care that is often covered is alternate care. This is nonconventional care that was developed by a licensed health care practitioner that serves as a good option if nursing home care seems too expensive. A health care professional creates the alternate care, the insured can initiate the plan, and then the insurer has the final word of approval.

    Under this alternate care, you can qualify for insurance coverage when you need to make necessary modifications to your home. For instance, you could reimburse yourself for building ramps for wheelchairs or modifications to a bathroom or kitchen. Since some people prefer to stay in their homes as long as possible, having the option to modify the area is a wonderful resource.