Long term care insurance is an essential part of protecting your health and career from lengthy illnesses. You could be out of work for more than 30 days at a time, and you must have a policy that will provide for you while you are sick. Long term insurance pays your bills when you are not working, and the policy must be tied to a short term policy often tied to your long term policy.
Long Term Care insurance pays for the work you miss when you are ill, and you must have the policy active to assist with your health care. Your health insurance pays your medical bills when you are sick, but your long term policy pays for the income you miss out on. You must use a policy of this type to receive payments after 30 days.
The claim you file for your policy must be submitted once you realize you will need care for more than 30 days. The policy will begin when you reach day 31, and you will keep submitting claims for care until you are authorized to go back to work. Claims must not be filed with correct dates for care, and you must not submit a claim that requests payment for anything prior to the 30-day time limit.
Long term policies are constructed in like manner for every customer. You will receive a policy that promises to pay for your care for a certain amount of time after you have reached the 30-day limit. You may purchase a policy that lasts for 60 days, 90 day or longer. Your insurance agent will give you premium comparisons for each policy, and you must choose a policy that you think will work for you.
You benefit from a long term policy when you are struck by an illness that lasts a long time. You cannot anticipate living a healthy or unhealthy life when you purchase your policy, but you must assume that there is a risk of developing a long term medical condition. Your policy will support you and your family until you are well enough to work again.