Long Term Care Insurance - How Do You Qualify?

You might be wondering how you can qualify for long-term care insurance. Perhaps all you've ever heard about are some general information about how this program is a must-have for any one approaching retirement, but that you've never come across specifics.

In real-life situations, you can begin to reap the benefits of long-term care if a doctor certifies that you are a so-called "chronically ill individual". To be certified as such requires the following:

• You need to be supervised to protect yourself from threats to your safety and health because of severe cognitive impairment or the loss of ability to process information.

• You are not able to perform two out of six ADLs or Activities of Daily Living, namely: transferring, continence, bathing, toileting, eating and dressing.

The insurance company will begin to pay the benefits when you are already certified. And it will continue to pay your benefits for pre-set period of time - some policies have a cap of five years, while others can last for as long as you need the insurance.

What long term care insurance does is to cover the cost of assisted living costs, or costs associated with nursing homes, at-home care, hospice care, among others. Physical therapy, speech therapy, occupational therapy, and home health aides and visiting nurses are also covered.

There are three levels of care in long-term care:

• Skilled care or 24-hour care by nurses under the supervision of a doctor.
• Intermediate care or occasional nursing, therapy and care by medical personnel.
• Custodial care assistance in daily living like dressing and eating.

Before you can be paid your long-term care benefits, there is a waiting period or elimination period which varies depending on the insurance provider, although a 90-day waiting period is commonplace. During the waiting period, the insured person pays for all the expenses associated with long-term care.

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