What Is Long Term Care Insurance?
Long-term care refers to a broad range of medical and personal care services designed to assist individuals who have lost their ability to perform activities of daily living without assistance. In such cases, long-term care insurance provides coverage for both medical and non-medical services provided in a patient's home, a nursing home, or an assisted living facility. Unlike Medicare or most private health insurance plans, which pay primarily for hospital stays or doctor visits, long-term care helps pay for the cost involved in providing assistance with activities of daily living.
Popular Insurance Questions
Popular Insurance Glossary Terms
Physical contact of an automobile with another inanimate object resulting in damage to the insured car. Insurance coverage is available to provide protection against this occurrence. ...
Associated insurers that are under common stock ownership or interlocking directorates. Such an arrangement makes it easier to exchange insurance products for sale to the consumer, reduces ...
Termination of premium payments by an employer on behalf of an employee to an employee benefit plan. ...
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Cost of an annuity. Annuities are often paid for in a lump sum rather than annual or other periodic payments. This sum, which guarantees an income, usually for life, is called the purchase ...
Value of a share of common stock, derived by dividing the total common stockholders' equity at the end of a period of time by the total number of shares outstanding at the end of the same ...
Trust that qualifies assets under the marital deduction provision in the Federal Tax Code for favorable treatment of an estate. The surviving spouse has the full power to use the assets of ...
Relinquishment of rights to benefits when an employee withdraws previous contributions to a plan. An employee who had not withdrawn these contributions would have been entitled to full ...
Clause in an insurance policy stipulating that the benefits under the policy will accrue to the right of the insured. For example, if the insured leaves a violin at a repair shop and that ...
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