Life Care Communities
Definition of "Life care communities"
Facilities for senior adults who pay an entrance fee to move into the facility as well as a monthly fee. The adults receive, in return, a place to live and long-term care usually for the adult's life. Questions to be asked before joining a community include: Who sponsors the community? What is the financial condition of the community? Is the community accredited? Who are the trustees? Does the community provide educational and recreational opportunities? May the residents of the community have visitors and pets and under what circumstances? Who makes the rules for the community and to what extent are the members allowed to contribute? What legal rights do the members have to the assets of the community?
Popular Insurance Terms
Covers all employees of a business on a blanket basis with the maximum limit of coverage applied separately to each employee guilty of a crime. ...
Prepaid legal insurance coverage plan sold on a group basis. Entitles a group member to a schedule of benefits, at a stipulated premium, for adoptions, probates, divorces, and other legal ...
Negligent acts and/or omissions, other than breach of contract, normally independent of moral obligations for which a remedy can be provided in a court of law. For example, a person injured ...
Single policy on the insured's property for: two or more different kinds of property in the same location; same kind of property in two or more locations; two or more different kinds of ...
Workers' premiums in a contributory employee benefit plan. ...
An amount usually expressed as 50% of the monthly indemnity for the total disability benefit provided by a disability income insurance policy. This amount becomes payable when the insured ...
Single premium immediate annuity purchased to fund a structured settlement. This product is purchased when the injured party (the plaintiff) wishes to have a monthly income payment for life ...
States that preclude the placement of surplus lines with particular insurance companies. ...
Procedure in which a home office interviewer (who may or may not have underwriting experience) interviews applicants on the telephone. The questions asked the applicant are automated and ...
Have a question or comment?
We're here to help.