Long-term care insurance options | DarrasLaw
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Long-term care insurance options

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Making sure that their own long-term care plans are sufficient can be a concern for many individuals. California residents may be interested to know that there are multiple long-term care insurance options that they can consider for their unique situations.

Inflation rider is a benefit that has the potential to automatically increase a policyholder's daily benefit by a certain percentage a year, compounded. It is ideal for those who want to have protection against inflation, although they should be prepared for the policy to cost more. A guaranteed purchase option allows individuals to periodically purchase supplemental coverage, sometimes without having to undergo a physical exam. Like an inflation rider policy, it can be expensive, so purchasers may want to wait until they are at least in their mid-70s to buy the policy, when long-term inflation may not be a primary concern. Couples are able to purchase shared-care plans that allow them to split insurance benefits, evenly or unevenly, between the two of them. The premium costs for such plans may be more than the costs of two separate and individual policies.

While numerous long-term care policies provide benefits for nursing home care, a majority of individuals may prefer to remain at home. Some policies will provide benefits for home care on the condition that the care is provided by a certified home health professional or an employee of a licensed agency. Individuals may also find policies that will provide benefits for home care that is provided by any non-relative.

Individuals who require long-term care insurance may require the assistance an attorney to ensure that they receive the benefits for which they have paid. The attorney may assist with the filing of an insurance claim or may file a lawsuit to appeal one that was denied in bad faith.