Tennessee Insurance Group: 90-Second Long-Term Care Insurance Quote Request

Have you ever considered the possibility that the unthinkable could happen to you? An estimated quarter-million people needed long-term care in Tennessee last year, and 37% of them were under age of 65. People insure their homes against the unthinkable, they insure their automobiles against the unthinkable, why don′t they insure themselves against the unthinkable?

Long–term care insurance is the most misunderstood type of insurance available today. This type of insurance covers the costs of skilled nursing, home healthcare, and other assisted living services in Tennessee when a chronic condition, trauma, or illness limits an individual′s ability to carry out basic self–care tasks called activities of daily living (ADLs). Activities of daily living include bathing, dressing, eating, household chores, meal preparation, and managing money.

Many people believe that long–term care is covered by their health insurance policy, but it′s not. TennCare, a State of Tennessee funded health insurance program, will pay for long–term care, but only after all personal assets have been spent. A report prepared by the U.S. Senate Special Committee on Aging in February, 2000 described long–term care as follows:

"Long–term care differs from other types of health care in that the goal of long–term care is not to cure an illness, but to allow an individual to attain and maintain an optimal level of functioning.

Long–term care encompasses a wide array of medical, social, personal, and supportive and specialized housing services needed by individuals who have lost some capacity for self–care because of a chronic illness or disabling condition."

Different long-term care companies offer different options that are chosen at the time a policy is applied for, but five major components are found in all policies:

Daily Benefit
Inflation Benefit
Benefit Period
Elimination Period
Care Settings

Daily Benefit
This component refers to the amount that the policy will pay for each day that long–term care is required. If the daily benefit selected is LOWER than the actual per day charge for qualified care, then the difference must be paid for with personal savings or income. However, if the daily benefit selected is HIGHER than the actual per day charge for qualified care, then most companies will credit the difference and make it available for future use.

Inflation Rider
This component refers to how the daily benefit will grow in order to keep pace with inflation. There are 3 choices:

NO RIDER
The daily benefit stays the same throughout the life of the policy.
FUTURE PURCHASE OPTION
This option guarantees the insured′s ability to periodically purchase more daily benefit regardless of health status. Please note that if more daily benefit is purchased, then the policy premium will increase.
AUTOMATIC INFLATION BENEFIT
This benefit will automatically increase the daily benefit annually. Unlike the Future Purchase Option, policy premium WILL NOT increase as the daily benefit increases.

Benefit Period
This component refers to the life span of the policy. The plan will pay benefits according to the benefit period selected. The most common options are a 2–year, 5–year, 10–year, and unlimited benefit periods.

If a joint policy is purchased, most companies will allow a spouse to share a benefit period if needed. For example, if a joint long-term care policy is purchased with a 5–year benefit period and one spouse has used all 5 years while the other spouse has not used any, then the spouse requiring additional care can begin using the other spouses benefit period.

Waiting Period
This component, also known as an elimination period, refers to the amount of time that must pass after qualified care begins before the policy begins paying benefits. The most common waiting periods are 0–days, 14–days, 30–days, 90–days, 180–days, and 365–days.

Care Setting
This component refers to the place that long–term care will be provided. There are three options:

HOME HEALTHCARE ONLY
If selected, this option will only pay for care received at the insured′s home.
FACILITY ONLY
If selected, this option will only pay for care received in a long–term care facility.
INTEGRATED
If selected, this option offers the most flexibility as it will pay for qualified care received at home, adult daycare, assisted living facilities, and nursing homes.

Additional Information
Most long–term care policies offer unique payment methods as outlined below:

MONTHLY
A monthly premium is due throughout the life of the policy.
MONTHLY FOR 10 YEARS
A monthly premium is due for 10 years at which time the policy would be considered paid in full.
MONTHLY TO 65
A monthly premium is due until the the insured reaches the age of 65 at which time the policy would be considered paid in full.

Another consideration that should be made when purchasing long–term care insurance is that many companies offer a discount if the applicant is married whether the spouse is purchasing coverage or not. Also, some companies offer discounted rates if both spouses purchase their coverage through a joint policy.

90-Second Quote Request!
First Name:
Last Name:
Daytime Phone:
Evening Phone:
Zip Code:
Email Address:

Daily Benefit:
Inflation Rider:
Benefit Period:
Waiting Period:
Care Setting:
Billing Mode:

Gender:	Male Female
Birth Date:
Height:
Weight:
Married?	Yes No
Tobacco User?	Yes No
Medications?	Yes No

Please provide special instructions or any additional information that would aid us in obtaining the best quote possible.

Long-Term Care Insurance Companies We Represent

Please note that this page provides only an overview of the different types of Tennessee long-term care insurance. The information displayed here is intended to help you request a long-term care insurance quote. Please refer to your policy for more information concerning your coverage.