If you or a loved one has invested in long term care insurance (LTCI), it’s important to know when and how to make the best use of it. Many people continue to save it for when they “really need it” down the road, but it may be wiser to start your claims sooner.

LCTI isn’t just for extended nursing home stays. It can be used if you need home care services, for example, if a broken bone or another condition keeps you from being able to get around on your own and perform activities of daily living.

Use the elimination period wisely.

LCTI policies typically require a waiting period of 30, 60 or 90 days - called an elimination period – from when your covered condition started before benefits will be paid. During that time, you will have to pay for the care you receive.

If you or a loved one is in the early stages of dementia or another cognitive problem, you might not need as much care early on as you will later. So starting a claim for two hours of care per day is better than waiting until you need six hours of daily care to begin your claim, because you will be paying for it initially during the elimination period.

Get expert help to understand your policy.

Every LTCI policy is different, and somewhere in its pages are the important specifics. For help in understanding when to use the benefits you qualify for, contact Margie Lannon at Homewatch CareGivers, 520-297-9349.

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