Tuesday, September 18, 2012

How Do I Start My Parent’s Long Term Care Insurance Benefit?

Long term care insurance helps many families with seniors pay for the care of these elderly individuals without suffering a financial strain. Long term care insurance prevents these families from having to wipe out savings accounts or bear a financial burden that they can’t necessarily handle. If you’re like Nancy of Chapel Hill, North Carolina, and have invested in long term care insurance, you want to make sure you know how to use this coverage when the time comes.

When do long term care insurance benefits kick in? 

As the AXA Equitable website explains, many long term care insurance policies have a waiting period before benefits begin, even after elderly individuals have been judged medically eligible.  These periods vary between insurance companies. Some are twenty days, others are thirty or sixty days. However, some insurance policies have no waiting period at all, and seniors are eligible to start receiving benefits on the first day they need care. It’s important to know the details of your loved one’s policy so you’re aware of the waiting period involved, if there is one.  During the waiting period, you’re responsible for paying for the patient’s care yourself, whether your senior is in a nursing facility or receiving care at home.

How do I file a claim to receive benefits?

You should know how to file a claim before you’d like your elderly loved one to receive long term care insurance benefits. In most cases, filing a claim requires submitting a written letter to your insurance company. In the letter, you’ll probably need to include a proof-of-loss form (which your insurance company can provide you) as well as relevant medical records. Some insurance companies require you to verify the person’s condition in writing every 30 to 90 days. You may also need to have verification from a doctor who has evaluated the elderly individual. These policies vary between insurance companies, so check with your agent to make sure you know the details of the claim submission process.

Long term care insurance is extremely beneficial to the families of elderly individuals. If your senior is in need of long term care, it’s important to research their insurance company’s specific policies to guarantee that you’re able to receive the benefits of the policy as quickly as possible.


  1. I know from personal experience that my family wanted to be able to live with assisted living or be in a nice and comfortable nursing home. Other family members and friends wanted to keep their medicare benefits and asked to receive senior long term care solutions. Long term care is an option that allows you to be taken cared of with your daily living activities such as using the bathroom or dressing.

  2. If you are going to start a long term care insurance for your parents then you should remember the policy must be named under your parents as the insured. They will be the one who will have to meet the qualifications of the insurance company like medical tests and history. If you can afford the long term care insurance rates then you should get the policy for them.