BACK TO CARE INSURANCE Q & AS Waiver Of Premiums
This provision allows you to skip premiums under certain conditions while receiving benefits
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Types Of Facilities And Levels Of Care
Nursing facility – Typically an institution, distinct from a hospital, appropriately licensed to provide nursing care to in-patients, including: 24 hour-a-day nursing service under a plan developed by a professional group composed of at least one doctor and one nurse, maintenance of clinical records for all patients, and proper methods of administering drugs
→ Read MoreReturn Of Premium
Many companies offer a return of premium option at an additional cost
→ Read MoreRestoration Of Benefits
Many policies have specific dollar maximums after which benefits are no longer payable
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The provision of the policy, usually stated on the first page, that sets forth its term of coverage
→ Read MorePre-Existing Conditions
Typically, any condition that existed, was diagnosed, or treated before the policy was issued
→ Read MoreNon-Forfeiture Clause
Generally, if you stop paying premiums when they are due, you receive nothing from the company when you are in need of care
→ Read MoreNon-Cancelable Clause
In some instances, an insurance company is not allowed to refuse to renew your policy each year
→ Read MoreLifetime Maximum Benefits
The maximum benefit that will pay out over the length of the policy’s duration
→ Read MoreInflation Rider
Cost of living riders address the ever-inflating cost of care
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