Question

Which of the following statements about long-term care insurance is (are) TRUE? I. It is no...

Which of the following statements about long-term care insurance is (are) TRUE?

I. It is no longer needed once a person is eligible for Medicare.

II. Purchasers have a choice of daily benefits and benefit periods.

I only

II only

Both I and II

Neither I nor II

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Answer #1

Statement 1 is True

Long term care insurance is a insurance that provides coverage to people of 65 or older with chronic or disability conditions, This type of insurance is much costlier but offers many advantages over Public insurance, and Medicare is the government official Insurance for the Subsidised medical insurance for the people of 65 or older, there are 4 parts of the insurance which provides different types of benefits. But This doesn't cover long term coverage care to the patient like staying in a nursing home. Therefore, Patient Might need Long term care Insurance even if he qualify for Medicare,

In Long term care insurance Purchasers have a choice of daily benefits and benefit periods for which the premium is charged accordingly.

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