Long-Term Care Insurance Flashcards
What do LTC insurance policies cover?
Nursing home care (i.e., Facility Care) , home care and community care
What are LTC insurance benefits?
Inflation protection, waiver of premiums in certain special cases, and features such as guaranteed renewabilty.
What are LTC exclusions?
War, self-inflicted injuries, or committing a felony.
What organization that developed model legislation to govern long-term care insurance?
NAIC (National Association of Insurance Commissioners)
Through which legislation did the U.S. Supreme Court reverse its historical position rendered in Paul v. Virginia on interstate regulation of insurance?
In 1944, in the South-Eastern Underwriters Association (SEUA) case, the U.S. Supreme Court concluded that insurance was indeed interstate commerce
What’s the last step in risk financing?
