Content Overview
- Summary
- Amount Of Coverage
- The Insurance Company's Financial Status And Claims Reputation/Service
- Amount Of The Premium
- Payment Options
- Whether The Policy Is Tax Qualified
- The Range Of Services Which Are Covered
- Where Services Can Be Provided
- Length Of Time Benefits Are Payable
- Waiver Of Premiums
- The Trigger For Qualifying For A Benefit
- The Waiting (Elimination) Period
- Renewability Provisions
- Inflation Adjustments
- Guranteed Purchase Option
- Notice Of Late Payment
- Non-Forfeiture Provisions
- For Married Couples And Domestic Partners: Shared Care, Survivorship Benefit
What To Look For When Purchasing A Long Term Care Insurance Policy
Notice Of Late Payment
Next » « Previous16/18
Look for a policy that contains the option of naming a second person to receive notice of any late premium payment.
Historically, policies would be cancelled just when the coverage was needed for lack of payment due to mental or physical impairment. Giving someone else a notice provides the opportunity to keep the policy from lapsing just when you need it.
Get Your Personal Guide
Please share how this information is useful to you. 0 Comments
Post a Comment Have something to add to this topic? Contact Us.