Shortened Benefit Period = A non-forfeiture option that reduces the benefit period but retains the full daily maximums applicable until death. The period of time for which benefits are paid will be shorter. For example, you buy a policy for three years of coverage...
Personal Care ( Custodial care) = Care to help individuals meet personal needs such as bathing, dressing and eating. Someone without professional training may provide care.
Non-Forfeiture Benefits = A policy feature that returns at least part of the premiums to you if you cancel your policy or let it lapse.
Medicare Supplement Insurance = A private insurance policy that covers many of the gaps in Medicare coverage (also called Medigap insurance coverage).
Medicare = The federal care program providing hospital and medical insurance to people aged 65 or older and to certain ill or disabled persons. Benefits for nursing home and home health services are limited.
Medicaid = A joint federal/state program that pays for healthcare services for those with low incomes or very high medical bills relative to income and assets. “The number of Americans needing long-term care is expected to double in the coming decade as...
