It protects benefits from erosion over time. Also, check to see how the elimination period can be satisfied. It's best if any day of required care can be used to satisfy the requirement. Some policies require that you receive benefits for a consecutive-day period to satisfy the elimination period. By law, insurers must offer this option, but it dramatically increases the premium and acts as little more than a savings account bearing no interest.
Good plans offer a rate guarantee of five years.
The best policy is one that balances superior benefits at attractive rates. Comparing identical features is critically important when reviewing premium rates. The Trust can help Concerned that members wouldn't have enough time or information to sort through all the options, the WEAC Member Benefit Trust reviewed individual LTC policies available on the market and selected one to offer members, their spouses, dependents, and parents. The Trust also holds educational seminars on LTC throughout the state. Members can use the Trust to learn more about LTC, to compare LTC policies, or to buy a policy.