Inclusion of a waiver of premium provision that waives the payment of premiums after the policyholder accesses services. But the future of LTC rests with the carriers who continue to develop product offerings that stretch beyond these traditional boundaries to meet the changing needs of America's families. My belief is that the next phase of development in LTC will center on intergenerational products that broaden the appeal of this type of insurance to a younger demographic group, as well as to their parents. Some products already have a foot planted firmly in the future this way, by offering more value today. An LTC policy can be paid in full after premiums are paid for the first 10 consecutive years after issue.
Younger policyholders can secure their futures during their income-earning years.
Creates a pool of money equal to triple the maximum monthly benefit amount for covered home care services when around the clock services are needed. Provides care for up to 30 days per policy year in a licensed hospital. A spouse may transfer a portion of benefits to the other spouse if both spouses purchased policies at the same time. Covers up to 90 percent of covered prescription drug charges while a policyholder is receiving LTC benefits, up to a maximum amount per year. This demand may eventually drown out the clatter of insurers counting the cash.