Which of the following statements regarding long-term-care insurance is true?
A) Long-term-care policies do not reimburse the insured for the cost of services incurred on a day-to-day basis.
B) The maximum duration of benefits is only 1 year.
C) There is no waiting period to receive the benefits.
D) Most long-term-care insurance policies are non-renewable in nature.
E) Many policies offer inflation protection riders for an additional premium.

Question

Quizplus · Accepted Answer

Many long-term-care insurance policies offer inflation protection riders for an additional premium, which helps ensure that the benefits keep up with rising costs. The other choices are incorrect. Long-term-care policies do reimburse the insured for the cost of services incurred on a day-to-day basis, the maximum duration of benefits is usually much longer than 1 year, there is typically a waiting period before benefits are paid out, and most policies are renewable (although premiums may increase over time).

Which of the Following Statements Regarding Long-Term-Care Insurance Is True