Understand your Long Term Care insurance planning options and get a no obligation quote today!‎

Get my Free LTC Quote Now keyboard_arrow_right

Types of Long Term Care Insurance Policies

There are different types of long term care insurance to consider.Find out which type of long term care insurance will best fit your circumstances:

Indemnity Long Term Care Insurance

This type allows policyholders to fully take control on how their benefits should be managed. This is done by paying off the maximum benefit. Take for example a policy with a maximum benefit of $2,500 in a month. If only $1,000 has been used for a given month, the remaining amount can be used for other expenses that the policyholder may encounter.

Reimbursement Long Term Care Insurance

This is the most common form of LTCI policy. This type only pays for the exact amount of care. Going with the above example of a policy with a maximum benefit of $2,500 (and with spending of $1,000) in a month, the unused $1,500 will be set aside for future claims.

Partnership Long Term Care Insurance

This type is basically a partnership between an insurance company and the state. This allows recipients to be qualified for Medicaid assistance, without having to lose assets (as compared to the conventional of being in the poverty line).