What Is Long Term Care Insurance?
Long-term care refers to a broad range of medical and personal care services designed to assist individuals who have lost their ability to perform activities of daily living without assistance. In such cases, long-term care insurance provides coverage for both medical and non-medical services provided in a patient's home, a nursing home, or an assisted living facility. Unlike Medicare or most private health insurance plans, which pay primarily for hospital stays or doctor visits, long-term care helps pay for the cost involved in providing assistance with activities of daily living.
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Entitlement to pension benefits without a reduction, even though an employee is no longer in the service of an employer at retirement. For example, under the ten year vesting rule, an ...
Policy that comes into existence or adjusts the amount of coverage to provide protection for newly acquired or increasing values of an insured's real or personal property. ...
Eligible employees reimbursed from the employer for family health care expenses paid by those employees to include health insurance premiums, disability income insurance premiums, and ...
Professional designation awarded by the American College. In addition to professional business experience in financial planning, recipients are required to pass national examinations in ...
Organization that underwrites insurance policies. There are two principal types of insurance companies: mutual and stock. A mutual company is owned by its policy owners, who elect a board ...
Quantitative measurement of the total costs (losses, risk control costs, risk financing costs, and administration costs) associated with the risk management function, as compared to a ...
Charge against a business firm in a product liability insurance lawsuit. Manufacturers have been held responsible for their products. When consumers become injured while operating a ...
Equity of shareholders of a stock insurance company. The company's capital and surplus are measured by the difference between its assets minus its liabilities. This value protects the ...
Person other than the annuitant as designated by the policyholder on whose life expectancy the annuity payment is also based. ...
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