Which of the following is an optional benefit under long-term care policies?

Which of the following is an optional benefit to a long-term care insurance policy quizlet?

Which of the following is an optional benefit under long-term care policies? Optional benefits under long-term care (LTC) plans include: guarantee of insurability, return of premium, hospice care, nonforfeiture options, and inflation protection.

What is an excluded benefit?

Excluded Benefits means vacation days or vacation pay, sick days or sick leave, maternity leave or other leaves of absence, termination or severance pay, pension benefits, ERISA coverage and similar contributions, and payroll taxes, worker's compensation and benefits in excess of the percentage limitation provided in ...

What is not an advantage of long-term care policies?

One of the biggest drawbacks of getting long-term care insurance is the risk of losing all the premiums you have paid over the years. If you end up not needing long-term care services, you won't be eligible for coverage. This means the money you've spent for coverage goes down the drain.

What are LTC benefit triggers?

Which of the following will a long-term care plan typically provide benefits for?

Generally, LTCI policies will, for a specified period of time (called the benefit period), pay a selected dollar amount per day toward skilled, intermediate, or custodial care in nursing homes, assisted-living facilities, or the insured's home.

What are the three main types of long-term care insurance policies?

What are the benefits of a term policy?

Term life insurance provides coverage in case you pass away during the policy term. A term life policy stays in effect for a specific length of time (e.g., 10, 20, 30, or even 40 years). Some families prefer to have coverage during their working years to help replace their income in a worst-case scenario.

Which of the following is not an allowable exclusion for long-term care insurance policies?

The correct answer is: b. Acute care Explanation: 1. Acute care is not an allowable exclusion for long-term insurance policies. Acute care refers to the treatment of short-term illnesses or injuries that require immediate medical attention and are typically covered by health insurance policies.

Which of the following are examples of optional health benefits?

Optional benefits include services including prescription drugs, case management, physical therapy, and occupational therapy.

What is optional long term disability insurance?

Optional/Buy-up Long Term Disability (LTD) Insurance

Long Term Disability insurance is designed to pay a monthly benefit to you in the event you cannot work because of a covered illness or injury. This benefit replaces a portion of your income, thus helping you to meet your financial commitments in a time of need.

Which of the following best defines long-term care?

Long-term care involves a variety of services designed to meet a person's health or personal care needs when they can no longer perform everyday activities on their own.

What are coverage triggers?

A coverage trigger is an event that must occur in order for a liability policy to apply to a loss. Coverage triggers are outlined in the policy language, and courts will use different legal theories pertaining to triggers to determine whether policy coverage applies.

What are qualified LTC benefits?

These policies must include at least 8 benefits: a nursing home benefit, an Residential Care Facilities/Residential Care Facilities for the Elderly benefit for assisted living and the 6 home care benefits: Home Health Care, Adult Day Care, Personal Care, Homemaker Services, Hospice Service, and Respite Care.

What triggers a long-term care event?

Long term care policies typically kick in when an individual needs assistance with two out of six qualifying tasks (generally this includes toileting, bathing, dressing, eating, transferring, and incontinence), but this could vary depending on the specific long term care policy.

Which of the following does not trigger benefits under a long-term care policy?

In long-term care policies, benefit triggers are essential activities that determine eligibility for coverage. Among the options listed, sleeping is not typically considered a benefit trigger, while eating, toileting, and continence are. Therefore, the correct answer is C) Sleeping.

What is excluded in a long-term care policy?

Attempted suicide or an intentionally self-inflicted injury. Resulting from alcoholism or drug addiction (except for an addiction to a prescription medication when administered in accordance with the advice of a Physician). War or any act of war, whether declared or not.

Which benefit would be typically excluded under a long-term care policy quizlet?

Under a Long Term Care policy, which benefit would be typically excluded or limited? Addictive behavior rehabilitation is normally excluded or limited under a Long Term Care policy.

What is benefit exclusions?

A benefits payable exclusion is a clause in insurance policy contracts that removes the insurer's responsibility for paying claims related to employee benefits.

What are three examples of excluded fringe benefits?

What is an exclusion list?

An exclusions list is a list—set up by a financial institution—of customers who are to be exempted from ongoing due diligence screening. This is usually because these customers' activities have a history of being flagged as false positives, or of otherwise not exhibiting anything suspicious.