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Long term care (LTC)

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Summarize the American Council of Life Insurers (ACLI) reports on Long Term Care insurance. Also discuss whether purchase of Long Term Care insurance is a good idea for younger aged individuals or should be limited to the elderly. Be sure to include discussion of the basics of long-term care insurance.

The following terms will be assessed in particular:

1. Your understanding of the American Council of Life Insurers (ACLI) reports on Long Term Care insurance.

2. Your discussion of whether Long Term Care insurance is a good idea for younger aged individuals or whether long term care insurance should be limited to the elderly.

3. Your knowledge of the basics of long term care insurance.

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Long term care (LTC) is explicated.

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This work is to be treated as a guideline to assist you with this assignment. At no time is it intended to be a final submission work and I discourage you from using it as such. Points made and topics discussed in this work should be researched further and validated by the student prior to utilizing it in their own work which will be complied for final submission to their schools.
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3. Your knowledge of the basics of long term care insurance.

Long term care (LTC) is sold to individuals or through group plans offered by employers and can be purchased for a set period of years or for lifetime coverage. Consumers of LTC plans have demanded greater choice and help in maintaining their quality of life in their later years so insurers have developed policies that cover services such as adult day care, respite care, assisted living, care management, home modifications as well as different forms of institutional living/care. It helps to pay for skilled care and covers assistance with activities of daily living such as bathing, eating, using the restroom, dressing or transferring from bed to chair. It is a relatively inexpensive way to help protect against the damage caused to one's finances by having to use their savings to pay for long term care. The amount paid on premiums usually falls well below the cost of a ...

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