Activating Your Long-Term Care Policy

Does this sound familiar? Many years ago, you and your spouse decided to take out long-term care insurance. Decades later, you have no idea where that policy is gathering dust. No doubt, you've invested a tidy sum in premiums, and it's getting closer to the time when you're thinking about needing that policy. Now, all you must do is find it.

Let's fast forward to the supposition that you do find your policy. What's the next step to understanding this wordy, legal document? That's where Senior Village comes to the rescue. One of the member services of the Forms and Documents Team is helping you understand your policy. We will work with you to get answers to these questions:

How do I qualify to activate my policy?

Does my policy have a waiting period during which I must pay out-of-pocket expenses for care before my policy takes over?

Do I qualify for at least two Activities of Daily Living as certified by a doctor such as assistance with mobility, eating, showering, dressing, etc.?

Will I need care for at least 90 days?

What kind of benefits can I expect from my policy?

How much are my daily/monthly maximum benefits?

Does my policy have an inflation/benefit adjuster?

Is there a term limit to receive benefits after activating the policy: two, six or longer years?

How does the policy cover home care, adult day care, assisted living, nursing care?

Are there any "riders" attached to the policy?

Activating a long-term care policy is not easy or quick, and you certainly don't want to wait until you need it before you learn the requirements. Trained volunteer advocates on the Senior Village Forms and Documents Team will help you find answers to these questions and fill in necessary forms. We even have a retired long-term care insurance specialist on hand to communicate directly with your insurance company.

Other member services performed by this team are assistance with understanding legal and financial documents and guiding members through early months of widowhood. We provide information and pose questions for you to ask your professional advisors. To learn more about the Forms and Documents Team, call Senior Village at (520) 314-1042.