By selecting a longer waiting period,the purchaser of long-term care insurance can afford long-term coverage and still keep the premiums affordable.

Question

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By choosing a longer waiting period (also known as a elimination period), the purchaser of long-term care insurance can reduce the cost of premiums since the insurance company will not begin paying benefits until after the waiting period has elapsed. This allows the individual to afford long-term coverage while keeping the premiums affordable.

By Selecting a Longer Waiting Period,the Purchaser of Long-Term Care