Costs
What is the average basic premium for someone aged 55?
$950-$1,500
Does long-term care Insurance cover yourself or your family?
Yourself
Does long term care insurance cover things like funeral services, a casket/coffin, burial/cremation, etc.?
False
If you wait __ years after 55 years old to pay for this insurance, it doubles in cost.
15
Who is long-term care insurance typically required for?
Federal Employees
You'll receive benefits if you can't complete __ ADLs (Activities of Daily Living)?
2
List 2 factors that will make your premiums more expensive.
Age, physical health, gender, marital status, insurance rates, carrier policies are all acceptable answers.
Long-term care insurance covers for people suffering from chronic illness and what?
Disabilities
What's the most optimal age for someone to start investing in long-term care insurance? (Grandma Bertha)
55 years old
There are certain interest rates you can add to your benefits that will make your benefits larger (however, they make your premiums much larger, too). What are the 4 main interest rates we covered? (hint: one of them might be zero!)
0%, 2%, 3%, 5%
List 3 things that long-term care Insurance covers.
Nursing home care, Home health care, Personal care assistance, Adult day health care, Respite care, Other specialized care
Name 3 ADLs
Washing, Dressing, Feeding, Toileting, Moving Around, Transferring are acceptable answers