Get More with Indemnity LTCI
Pets will never receive extraordinary care when they turn old, weak and sick even after they’ve proven their love and loyalty to us humans for like 11 years, or 77 years if we use the pet calculator. Even if their rich masters are capable of purchasing an indemnity long term care insurance policy for them they will not receive any coverage. So you and I are lucky that we are not animals and thus we have to preserve this one chance in life which was bestowed to us.
Invest your hard earned money into something that will benefit you and your loved ones in the future. You’ve got a house but you won’t live there for eternity. You have a car which conks out and you never get to use. If you invest in a long term care insurance (LTCI) policy you have the assurance that it will never go obsolete even if it takes you 50 years before requiring serious care.
There are different types of LTCI policies but only one is generous enough to give you absolute freedom to manage your maximum benefit amount. An indemnity LTCI policy reimburses an insured individual up to his maximum daily benefit amount regardless of his actual cost on care.
If your policy stipulates a maximum benefit amount of $250, this is the exact amount that you will receive from your insurer even if your actual spending on care is only $170. Now it’s up to you how you would spend the remaining $80 of your daily benefit amount.
Some people use their policy’s maximum benefit amount to modify their homes so it would conform to the concept of aging in place. Meanwhile, there are others who would put it away for their family’s future.
Managing Indemnity Long Term Care Insurance
An indemnity LTCI policy will not require official bills from a nursing home or community-based long term care (LTC) facility before it pays the insured individual his maximum daily benefit amount. Upon qualifying for LTC, all you have to do is submit your claim to your insurer and satisfy your policy’s elimination period so that you can immediately receive your LTCI policy’s maximum daily benefit amount.
It’s important to remember though that your indemnity policy is not a salary loan or a debit card which you can use to buy anything that you want.
Always prioritize your healthcare needs and if there would be a remainder in your benefits you can do whatever you wish to do with it. If you were to listen to an expert’s advice though you will realize that it’s better to save the money than spend it on whims and vacations.
Indemnity policies are more expensive than the reimbursement type as the former allow people more leeway in cost efficiency. It is specially designed for people who are receiving in-home care as they wouldn’t have to go through a lot of paperwork before they can reimburse their LTC expenses.
To find out more about the benefits of an indemnity long term care insurance, contact your broker or surf the net for sites that offer extensive information about this insurance product.
Getting long term care insurance quotes early is highly recommended to people who wants to live a comfortable life once they retire from their jobs. The people behind CompleteLongTermCare.com acknowldeges that and that’s why we are giving you the chance to shop for long term care quotes from all major carriers.
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