Overall
At what age do you get long-term care insurance?
What is around age 65.
True, false: A life insurance policy typically involves two parties: the owner and the insurance company. The owner controls the policy and pays the premium.
true
what is LTC?
Long term care
What types of services may NOT be provided under the long-term care's assisted living care?
Visits by a registered nurse
What is a benefit of having a will?
What are nominating people to handle your estate, guardians for your children, you can give your personal valuables to whoever you wish, etc.
True or false a good long-term care insurance will include in-home care?
What is true.
what is STOLI?
stranger-owned life insurance
What is intermediate care?
Involves daily nursing and rehabilitative care that can be provided only under a doctor's supervision by medical personnel
Which renewal provision(s) must be included in a long-term care policy issued to an individual?
Noncancellable and guaranteed renewable
True or false good identity theft protection includes restoration services?
What is true.
True or false long-term care insurance is the same as disability insurance?
What is false.
What is IOLI?
investor-owned life insurance
whats the age for LTC Eligible Age Groups?
65 years old and older
What is the "elimination period" under a long term care policy?
The amount of time during which no benefits will be paid.
How do you become self insured?
What are getting out of debt, fully funded emergency fund, investing and growing your wealth.
What is long-term care insurance?
What is to ease the financial load linked with LTC services and support
Who normally owns life insurance used to meet business insurance needs?
the business
What is the LTC Policy Period?
3 to 5 years
How many long-term care policies can be sold to an insured within a 12-month period before the number of policies is considered to be unnecessary?
2
When is renters insurance necessary?
Anytime you rent a home.
What percentage of people over the age of 65 will need long-term care at some point?
What is 69%.
what is the bring back rule?
To avoid inclusion in the insured's estate, it is best to set up the third-party ownership when the policy is issued.
what are LTC Underwriting Considerations?
General health
Age at inception
Medical history
Occupation
Avocations
General lifestyles
In long-term care insurance, what type of care is provided with intermediate care?
Occasional nursing or rehabilitative care
What is the purpose of insurance?
What is to transfer risk away from yourself and put it on the insurance companies.