Which of the following is correct regarding long-term care insurance?

Question

Quizplus · Accepted Answer

Long-term care insurance typically has an elimination period, which is a waiting period before the policy starts covering the costs of long-term care. This elimination period can range from 30 to 90 days or more, depending on the policy.

Answer: B
 Long-term care insurance tends to be more expensive the older you get, so it may be more cost-effective to purchase it when you are still relatively young and healthy. The value of the insurance depends on your specific needs and circumstances.

Answer: None of the above
 Long-term care insurance is not a universal benefit in Canada, and there is no standard coverage or premium amount. Some Canadians may have coverage through their employer or a private insurance policy, but others may have to pay for long-term care out of their own pockets. It is important to research and compare different policies to find the one that best meets your needs.

Which of the Following Is Correct Regarding Long-Term Care Insurance