Unit 21: Long-The Term Care
Long-term care benefit amounts are usually expressed as dollars per
day
Benefits amounts in a long-term care policy are usually expressed as
dollars per day
One of the requirements of a qualified long-term care policy is the inability of an insured to perform a number of the activities of daily living by themselves. Which is considered a measurement of the most impaired person?
eating
An insured must receive care for a stated number of days before a ling term care policy can pay benefits. This time deductible is known as the
elimination period
Which of the following provisions give a long-term care policy owner the option to purchase additional insurance amounts within specified parameters regardless of insurability?
guarantee of insurability
An optional benefit that allows an insured to buy additional coverage at certain times using their attained age is
guaranteed insurability
Roxanna wants to buy additional coverage in the future using her attained age and without having to provide evidence of insurability. Which of the following optional benefits should Roxanne add to her long-term care policy?
guaranteed insurability
A qualified long-term care insurance policy must contain which of the following requirements?
guaranteed renewability
Carl is 95 years old and often needs skilled medical and therapy services in his home. Which of the following types of long-term care does Carl need?
home health care
In terms of long-term care, which of the following WOULD be covered by a Medicare supplement insurance plan?
hospice care
Assisted living facilities provide
housing, meals, and help with personal care
An insurance policy benefit that increase benefits to keep up with anticipated cost increases for long-term care services is said to have
inflation protection
Javier purchased a long-term care insurance policy with an optional benefit that provides a yearly increase in benefits. His policy offeres
inflation protection
Care that is provided on an intermittent basis by licensed nurses is known as
intermediate care
Medical or rehabilitative care performed on an intermittent basis is known as
intermediate care
Which of the following is intermittent care performed by licensed nurses under a doctor's orders?
intermediate care
Which of the following statements regarding the respite care provision under a long-term care policy is CORRECT?
it pays a benefit for a family caregiver to get away from her duties for a short period of time
If a long-term care policy is considered tax qualified,
its benefits will qualify for tax-exempt treatment
In regards to underwriting considerations of long-term care policies, the key decision is based on
whether an individual can perform the activities of daily living
skilled nursing long-term care is provided
around the clock
Individuals that need assistance from time to time but can live more independently than people who need custodial care may need
assisted living care
The minimum benefit period for a long-term care insurance policy is
12 months
For long-term care policies to be considered qualified, a health professional must certify that a chronic illness will last for a minimum of
3 months (90 days)
How long is the free-look period in a long-term care insurance policy?
30 days
Marketing standards for long-term care policies require a free look period of?
30 days
Which of the following statements explains why a person would NOT be a good applicant for a long-term care insurance policy?
Because of his financial situation, he must rely on Medicaid to pay the cost of long-term care
Qualified long-term care policies must meet the specific requirements of
HIPAA
Which of the following sets the requirements that must be met for long-term care insurance policies to be considered "Qualified"?
HIPAA
What is the definition of pre-existing condition in a long-term care policy?
a condition for which advice or treatment was received within 6 months before the effective date of coverage
Regarding long-term care insurance, the existence of symptoms that would cause an ordinarily prudent person to seek diagnosis or treatment, or a condition for which medical advice or treatment was recommended by or received from a provider of health care services within 6 months before the effective date of an insured's coverage, is known as
a pre-existing condition
Which of the following terms describes the ability to perform certain independent tasks?
activities of daily living
A deductible that is measured in time rather than dollars is called
an elimination period
What protects an insured against unintentional lapse?
another individual also receives the premium due notice
For a long-term care insurance policy to begin paying benefits, the insured must
be diagnosed as chronically ill
Which of the following is a common benefit trigger for a long-term care policy?
cognitive or mental impairment
Kathleen needs help with eating, bathing, and dressing. Which level of long-term care does Kathleen need?
custodial care
The type of care that provides assistance with the activities of daily living performed by unskilled helpers is known as
custodial care
Which of the following types of care is described as broad range of medical, personal, and environmental services designed to assist individuals who have lost their ability to remain completely independent in the community?
long-term care
Becky wants to make sure that she has insurance to protect herself if she eventually needs long-term custodial or nursing home care. Which type of policy will cover these types of care?
long-term care insurance
Which of the following statements about long-term care coverage is CORRECT?
long-term care insurance provides a broad range of coverage for services rendered at home, at adult care centers, or in nursing homes
Which of the following is an optional benefit to a long-term care insurance policy?
nonforfeiture benefit
A long-term care policy can be terminated because of the insured's
nonpayment of premiums
Which of the following may be used as a reason to cancel a long-term care policy?
nonpayment of premiums
Skilled nursing care differs from intermediate care in which of the following ways?
skilled care must be available 24 hours a day, while intermediate care is daily, but not 24-hour care
When marketing long-term care insurance, the insurer or agent must consider
the suitability of the purchase
The elimination period may be thought of as a
time deductible
