What You Need to Know Before Choosing LTC Coverage
About this episode
This episode covers essential information about Long-Term Care Insurance, including policy mechanics, benefit triggers, and critiques of the WA Cares Act.
In this episode, I'm breaking down the essentials of Long-Term Care Insurance coverage—how policies work, what triggers benefits, and your options for benefit amounts and periods. I'll also talk about the WA Cares Act, exposing how it's an inadequate solution for your real LTC needs, and the pitfalls to watch out for as more states consider similar tax programs. If you want clarity on how to make the right choice for a reliable LTC policy that protects your retirement and legacy, this episode is for you. Listen now! Show highlights include: How the inability to perform at least two of these six activities of daily living can trigger LTC benefits. Can cognitive impairment by itself also trigger a claim? (1:06) What an elimination period means in LTC Insurance and how it impacts the premium cost. (1:53) How to choose a benefit frequency and amount. And why an inflation protection rider is a must, anticipating care costs exceeding benefits as this client story reveals. (3:09) Options to select an LTC benefit period of up to possibly 7 years—and who should consider lifetime coverage that I can tailor to your needs or budget! (5:20) If you're a W-2 employee, here's the maximum…
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