Which of the following people would probably be the best candidate for long-term care insurance?
Asked by: Travis Kunze | Last update: July 8, 2025Score: 4.6/5 (4 votes)
Who is the best candidate for long-term care insurance?
The best candidates are typically those in good health who purchase policies in their 50s or early 60s, have stable financial resources to maintain premium payments and want to protect their assets from potential long-term care costs.
Who would most likely need long-term care insurance?
According to the Department of Health and Human Services research, 51% of women aged 65 and over will need paid long-term care. Meanwhile, 39% of men who are 65-plus will need such care. That differential helps explain why long-term-care insurance is typically more expensive for women than men.
Which of the following would be the best candidate for long-term care insurance?
The best candidates for long-term care insurance are people whose financial well-being would be jeopardized by long-term care expenses. People at the low end of the economic scale have no assets to protect, and people at the high end can pay their own long-term care expenses without endangering their financial health.
Who are the best candidates for self-funding long-term care costs?
Explanation: The best candidates for self-funding long-term care costs are those with above-average wealth whose disposable incomes exceed the cost of care. This is because they have the financial means to pay for their long-term care without negatively impacting their lifestyle or depleting their assets.
Why Donna Doesn’t Need Long Term Care Insurance
Who would be the most likely candidate for purchasing a LTC policy?
Who would be the most likely candidate for purchasing a LTC policy? Those who have the resources to pay the premiums. Long term care is especially needed when an elderly person requires assistance with activities of daily living due to: Physical or cognitive impairments.
Who is the largest payer for long-term care?
Medicaid is the primary payer across the nation for long-term care services.
Who is a good candidate for term life insurance?
Ideal Candidates for Term Insurance
Parents of young children are a good example. If you have children and pass away, your family will miss out on many years of your earnings. They might need a six- or even seven-figure policy to help replace your income, cover bills and pay future college education costs.
Why do people want long-term care insurance?
Long-term care (LTC) insurance primarily pays for supervision or assistance with everyday tasks (such as bathing or dressing) whether at home, in a community program, in an assisted living facility (ALF) or in a nursing home. Most LTC services do not require a licensed health care professional to provide care.
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.
Who gets long-term care?
Long-term care (also called “custodial care” or “long-term services and support”) includes medical and non-medical care for people who have a chronic illness or disability. This may include: Personal care assistance (like help with everyday activities, including dressing, bathing, and using the bathroom)
Who provides the most direct care for a patient in a long-term facility?
Over three-quarters (77%) of direct care workers were personal care aides, nursing assistants, or home health aides (collectively “aides”) and the remaining quarter (23%) were registered nurses (RNs) or licensed practical nurses (LPNs) (Figure 2).
Which type of long-term care benefit would be most appropriate for a stroke victim?
A nursing home may be best for stroke survivors who require skilled care 24 hours a day. Skilled care is the services provided by trained medical professionals, such as nurses. Skilled nursing care includes changing wound dressings, giving intravenous (IV) fluids and injections.
Who is more likely to need long-term care?
Someone turning age 65 today has almost a 70% chance of needing some type of long-term care services and supports in their remaining years. Women need care longer (3.7 years) than men (2.2 years) One-third of today's 65 year-olds may never need long-term care support, but 20 percent will need it for longer than 5 years.
Who would most likely benefit from long-term care insurance?
In order to maximize insurability and any potential health rate discounts, we recommend a target age range between 45 and 65. Clients with many chronic illnesses will likely not qualify for long-term care insurance, but they may be insurable for a short-term care insurance policy.
Who would major medical insurance be the best option for?
Major medical coverage is a good choice for nearly anyone who wants to minimize expenses for preventative care, emergency services, and management of chronic conditions.
What is the major reason a person requires long-term care?
Generally, a person needing LTC is one who requires assistance with activities of daily living (ADLs, including bathing, dressing, eating, transferring, walking) or instrumental activities of daily living (IADLs, including meal preparation, money management, house cleaning, medication management, transportation), ...
What is long-term care insurance Quizlet?
What is long term Care insurance? Long-term care insurance provides medical and custodial care for individuals whose health has deteriorated to the point where they cannot perform some basic functions of daily living without assistance.
Why choose long-term care?
Long-term care facilities offer a comprehensive range of services and amenities that are tailored to meet the specific needs of each resident. These facilities provide a supportive environment where individuals can receive specialized care, engage in meaningful activities, and enjoy a sense of community.
Who should consider term life insurance?
Term life insurance is attractive to young people with children. Parents can obtain substantial coverage for a low cost, and if the insured dies while the policy is in effect, the family can rely on the death benefit to replace lost income. These policies are also well-suited for people with growing families.
Which person should most consider purchasing life insurance?
- Life insurance can provide financial security for loved ones, covering expenses like daily living, education and debts.
- Parents, small business owners, retirees and those with dependents could benefit significantly from life insurance policies.
Who is the largest provider of term life insurance?
According to the National Association of Insurance Commissioners (NAIC), the largest insurance companies offering life insurance are New York Life Group, followed by Northwestern Mutual Group, with Metropolitan Group in third place.
Who is long-term care provided by?
The government's Medicaid programs is considered the primary payer of Long Term Services and Supports (LTSS), according to the American Association of Retired Persons, Public Policy Institute.
Who do the majority of long-term care recipients receive care from?
From whom do the majority of long-term care recipients receive care? The majority of people receiving long-term care receive it from family caregivers. Because premiums for long-term care insurance can be very costly, many consumers seek other methods of acquiring funding for future LTC needs.
Who pays the most for long-term care?
While Medicaid will pay up to 100% of the cost (indefinitely as long as there is a need), a nursing home resident must contribute nearly all of their income towards nursing home care as a Patient Liability. Note: Medicaid coverage is only provided for persons with limited financial means.