Once on benefit the senior no longer pays premiums but then receives the benefits that were agreed to in the policy. These benefits can be for a set number of years, while the senior is living, or better yet for the lifetime of the senior who is insured. It is best to apply for long term care insurance while one is healthy and younger seniors in their 60s have lower premium payments than older seniors. It is sound advice to set up a policy years before one may need these benefits because later their health may disqualify them. Russ Peck, Jr. is also a licensed agent of Forethought Insurance.
Forethought is a funeral planning insurance company.
They accept all seniors up to age 90. This is guaranteed whole life insurance. No medical questions are necessary though underwritten coverage may be attained if three simple medical questions are properly answered. The insurance gains tax-free interest that is applied to the rising costs of having a funeral due to inflation. The interest of funeral insurance is based on the CPI and other indicators of the U.S. economy.