Policies that also provide for Long Term Care benefits
Linked benefits policies use life policies or annuities, and offer a form of Long Term Care coverage as well. If the owner never needs LTC benefits, the policy acts as an annuity or life insurance policy. However, if the owner needs LTC benefits, the policy begins to issue payments to cover the needed care—at a predetermined benefit level and maximum monthly benefit. These types of policies are usually easier to qualify for than traditional LTC plans, and do not require ongoing premiums to be paid to fund the policy like traditional LTC plans.
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