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What are common questions about long term care insurance?

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If you have long term care insurance, it goes without saying you never want to make a claim. Knowing you can, however, will give you peace of mind.

Like many, you may have questions about your long term care insurance. This is particularly true if you receive the benefit through your employer, along with others, and are not exactly sure of how it works, what it provides or how to make a claim should the time come.

Here are some of the most common questions concerning long term care insurance policies:

-- What types of benefits does long term care insurance provide?

-- What is the process of filing a claim?

-- What does long term care insurance cover and for how long?

-- What are the risks associated with relying primarily on long term care insurance, thus overlooking other options such as disability coverage?

-- What are some of the alternatives to this type of policy?

If you have long term care insurance, regardless of if it is an individual policy or not, you should fully understand what it provides. You may have to answer the questions above to get a better idea of what your policy is all about.

Just the same as any type of insurance, there are things you will like about your policy as well as things you may want to change. In the event that you make a claim, you will hope your insurer approves it and begins to pay benefits. If this doesn't happen, it could be time to consult with an attorney regarding your rights.

Source: The Wall Street Journal, "What You Need to Know About Long-Term-Care Insurance" accessed Jan. 19, 2015

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