banking service chronicle Long term care insurance policies have an important component called a benefit period which greatly affectspremium costs. This article discusses what I call "Short and Fat vs. Long and Skinny LTC Policies". That is right -- Short and Fat LTC policies! So what is a benefit period anyway? banking service chronicle monthly magazine The benefit period is the number of years that ONCE you go on claim (need help in bathing and dressing or have some cognitive impairment (Alzheimers or similar ailment) that the insurance company will pay the daily or monthly benefit that you chose when you applied for the policy. So if you bought a benefit period of say 5 years, once you qualified for benefits, and satisfied the deductible (how many days of care that you need to pay out of pocket), the insurance company will pay those benefits for a maximum of 5 years in this case banking service chronicle monthly magazine subscription.
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